Establishment (Anstalt) in Liechtenstein

The Anstalt exists in this form almost nowhere but Liechtenstein. It has no members and no shareholders; control runs through the founder's rights, which are transferable and inheritable and do not themselves appear in the commercial register.

It is deliberately malleable: an Anstalt can trade like a company or hold assets like a foundation, with or without beneficiaries, with or without capital divided into participations. That adaptability is why it is common — and why the legal form alone says little about what an entity actually does.

It is administered by a board (Verwaltungsrat). Because the founder's rights are not published, a register entry says nothing about who stands behind an Anstalt; this register shows what the Official Gazette announced, and no more.