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Offshore Trusts Report: LiechtensteinLegal Framework and Formation Rules and Fees Liechtenstein is the only civil law jurisdiction which has adopted largely anglo-saxon trust legislation (contained in the PGR Code), although, unlike the common law trust, there is no bar against accumulation of income, nor against perpetuities. Liechtenstein is home to a thriving business in trust management. Although other local corporate forms offer partial substitutes for the trust, it remains a highly effective means of asset protection, and non-anglo-saxon clients are often more comfortable with Liechtenstein as a jurisdiction than they might be with, for instance, an ex-British colony. A Liechtenstein Trust is set up by a written agreement (Trust Deed) between the trustor (settlor) and trustee(s), or by a written Declaration of Trust by the trustor, matched by a written Acceptance of Trust by the trustee. The legislation in fact does not speak of 'trusts' but of 'trusteeship'.
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