Industry Classification: Not applicable
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Iceland reserves the right to adopt, maintain or modify any measure with respect to the provision of new services other than those classified in CPC.
Schedule of Liechtenstein
List of reservations:
Reservation No.1 - All sectors
Reservation No. 2 - Business services (professional services)
Reservation No. 3 - Business services (professional services)
Reservation No. 4 - Business services (research and development services)
Reservation No. 5 - Business services (other business services)
Reservation No. 6 - Distribution services
Reservation No. 7 - Postal services
Reservation No. 8 - Educational services
Reservation No. 9 - Financial services
Reservation No. 10 - Recreational, cultural and sporting services
Reservation No. 11 - Transport services and auxiliary transport services
Reservation No. 12 - Water
Reservation No. 13 - Energy related activities
Reservation No. 14 - Other services
Reservation No. 15 - New services
1. Sector: All sectors
Sub-Sector: Not applicable
Industry Classification:
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment) Article 3.76 (Obligations)
Description: Investment Liberalisation, Cross-Border Trade in Services and Regulatory Framework for Legal Services
a) Public utilities
With respect to Investment Liberalisation – Market Access, Performance Requirements and Cross-Border Trade in Services – Market Access
Liechtenstein reserves the right to adopt, maintain or modify any measure relating to public utilities, public services or public functions to the extent that they are established or maintained for public purposes, whether owned, operated or contracted out by local or central government, such as social security or insurance, social welfare, technical testing and analysis services, environmental services, health services, transport services and services auxiliary to all modes of transport. Services considered as public utilities at a national or local level may be subject to public monopolies or to exclusive rights. Exclusive rights on such services are often granted to private operators, for instance operators with concessions from public authorities, subject to specific service obligations. Given that public utilities often also exist at the sub-central level, detailed and exhaustive sector-specific scheduling is not practical.
b) Most-Favoured-Nation Treatment
Liechtenstein reserves the right to adopt, maintain or modify any measure which accords differential treatment pursuant to the EEA Agreement, the EFTA Convention, bilateral agreements between the Principality of Liechtenstein and the Swiss Confederation or to any future bilateral or multilateral agreement which:
(i) creates an internal market in services and investment;
(ii) grants the right of establishment; or
(iii) requires the approximation of legislation in one or more economic sectors.
An internal market in services and investment means an area without internal frontiers in which the free movement of services, capital and persons is ensured.
The right of establishment means an obligation to abolish in substance all barriers to establishment among the parties to the regional economic integration agreement by the entry into force of that agreement. The right of establishment shall include the right of nationals of the parties to the bilateral or multilateral agreement to set up and operate enterprises under the same conditions provided for nationals under the law of the country where such establishment takes place.
The approximation of legislation means:
(i) the alignment of the legislation of one or more of the parties to the bilateral or multilateral agreement with the legislation of the other party or parties to that agreement; or
(ii) the incorporation of common legislation into the law of the parties to the bilateral or multilateral agreement.
Such alignment or incorporation shall take place, and shall be deemed to have taken place, only at such time that it has been enacted in the law of the party or parties to the bilateral or multilateral agreement.
c) Commercial presence
The establishment of a commercial presence by a legal person (including branches) is subject to the requirement that no objection for reasons of national economy (balanced proportion of national and foreign capital; balanced ratio of foreigners in comparison with the number of resident population; balanced ratio of total number of jobs in the economy in comparison with the number of the resident population; balanced geographic situation; balanced development of the national economy, between and within the sectors) exists.
With respect to the establishment of a commercial presence by a natural person, Liechtenstein reserves the right to require a continuous prior residence of that person in Liechtenstein for a certain period of time.
With respect to the establishment of a commercial presence by a legal person (including branches), Liechtenstein reserves the right to require that at least one of the managers of the commercial presence has had a continuous prior residence in Liechtenstein for a certain period of time.
General and limited partnerships must fulfil the same conditions as corporations with limited liability (legal persons).
d) Acquisition of real estate
Liechtenstein reserves the right to require a prior authorisation for any acquisition of real estate. Such authorisation is granted only in the case of an actual and proven need for living or business purposes as well as a continuous prior residence in Liechtenstein for a certain period of time.
e) Arms, munitions, war material and embargoed goods
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to the production or distribution of, or trade in, arms, munitions, war material and embargoed goods, including dual-use goods and special goods for military use.
2. Sector: Business services – professional services
Sub-Sector: Legal services
Industry Classification: CPC 861 Legal services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.76 (Obligations)
Description: Investment Liberalisation, Cross-Border Trade in Services and Regulatory Framework for Legal Services
a) Legal services relating to domestic (EEA and Liechtenstein) law and legal representational services relating to foreign and international law
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to legal services relating to domestic (EEA and Liechtenstein) law and legal representational services relating to foreign and international law.
b) Services of notaries and bailiffs
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to the supply of legal advisory and legal authorisation, documentation, and certification services provided by legal professionals entrusted with public functions, such as notaries, and with respect to services provided by bailiffs who are appointed by an official act of government.
3. Sector: Business services - professional services
Sub-Sector: Health and social services as well as related distribution services
Industry Classification: CPC 93 Health and social services CPC 621 Commission agents’ services CPC 622 Wholesale trade services CPC 632 Non-food retailing services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Investment Liberalisation and Cross-Border Trade in Services
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to human health and veterinary services, social services and intermediation services relating to social services, as well as distribution services with respect to pharmaceuticals, medicinal products and medical devices, transplant products, narcotics and psychotropic substances.
4. Sector: Business services - research and development services
Sub-Sector: Research and development services
Industry Classification: CPC 85 Research and development services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Investment Liberalisation and Cross-Border Trade in Services
Liechtenstein reserves the right to adopt, maintain or modify any measure relating to research and development services with regard to projects financed in whole or in part by public funds.
5. Sector: Business services – other business services
Sub-Sector: Advertising services
Services incidental to agriculture, hunting, forestry and fishing
Placement and supply services Investigation and security services
Industry Classification: CPC 871 Advertising services
CPC 881 Services incidental to agriculture, hunting and forestry
CPC 882 Services incidental to fishing
CPC 872 Placement and supply services of personnel
CPC 873 Investigation and security services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Investment Liberalisation and Cross-Border Trade in Services
a) Advertising services
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to outdoor advertising services, advertising services for goods subject to import authorisation as well as advertising services for pharmaceutical products, alcoholic beverages, tobacco products and toxics.
b) Services incidental to agriculture, hunting, forestry and fishing
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to services incidental to agriculture, hunting, forestry and fishing, except advisory and consulting services (part of CPC 881 and CPC 882).
c) Placement and supply services
Liechtenstein reserves the right to adopt, maintain or modify any measure relating to the provision of placement and supply services of personnel that are neither Liechtenstein nationals nor residents possessing a work permit.
d) Investigation and security services
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to investigation and security services, except security consultation services (CPC 87302).
6. Sector: Distribution services
Sub-Sector: Commission agents’ services Wholesale trade services Retailing services
Industry Classification: CPC 621 Commission agents’ services CPC 622 Wholesale trade services CPC 632 Non-food retailing services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Investment Liberalisation and Cross-Border Trade in Services
Liechtenstein reserves the right to maintain, modify or adopt any measure with respect to:
a) trade in livestock;
b) trade in precious metals and stones as well as goods derived therefrom;
c) distribution services related to goods subject to import authorisation as well as alcoholic beverages, tobacco and toxics; and
d) retailing through mobile sales unit (part of CPC 631 + part of CPC 632 + part of CPC 6111 + part of CPC 6113 + part of CPC 6121.
7. Sector: Postal services
Sub-Sector: Not applicable
Industry Classification: CPC 751 Postal services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Investment Liberalisation and Cross-Border Trade in Services
Liechtenstein reserves the right to adopt, maintain or modify any measure relating to postal services as well as the production and distribution of Liechtenstein postage stamps.
8. Sector: Educational services
Sub-Sector Not applicable
Industry Classification: CPC 92 Educational services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Investment Liberalisation and Cross-Border Trade in Services
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to:
a) all educational services which receive public funding or State support in any form as well as with respect to private education services for compulsory education;
b) other education services, which means other than those classified as being primary, secondary, higher and adult education services, except language tuition.
Foreigners may establish commercial presence only if organised as juridical persons according to Liechtenstein law.
9. Sector: Financial services
Sub-Sector Not applicable
Industry Classification: Not applicable
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment) Article 3.49 (Senior Management and Boards of Directors)
Description: Investment Liberalisation and Cross-Border Trade in Services
Liechtenstein reserves the right to maintain, adopt or modify any measure with respect to the following:
a) All financial services:
According differential treatment to an investor or a financial service supplier of a third country pursuant to any bilateral or multilateral international investment treaty or other trade agreement.
The right to require a financial service supplier, other than a branch, when establishing in Liechtenstein to adopt a specific legal form, on a non-discriminatory basis.
The cross-border supply of all financial services from within a Party into another Party, except for:
(i) direct insurance services (including co- insurance) and direct insurance intermediation for the insurance of risks relating to:
a) maritime transport and commercial aviation and space launching and freight (including satellites), with such insurance to cover any or all of the following: the goods being transported, the vehicle transporting the goods, or any liability deriving therefrom; and
b) goods in international transit;
(ii) reinsurance and retrocession;
(iii) services auxiliary to insurance;
(iv) the provision and transfer of financial information, and financial data processing and related software by suppliers of other financial services; and
(v) advisory and other auxiliary financial services relating to banking and other financial services as described in subparagraph (xvi) of the definition of banking and other financial services (excluding insurance) in Article 3.45 (Definitions) of Sub- Section 3.5.3 (Financial Services), but not intermediation as described in that sub-paragraph (xvi) of that definition.
b) Banking and other financial services:
Only legal persons having their registered office in a Contracting Party to the EEA Agreement can act as depositories of the assets of investment funds. The establishment of a specialised management company, having its head office and registered office in the same Contracting Party, is required to perform the activities of management of common funds, including unit trusts, and where allowed under national law, investment companies.
10. Sector: Recreational, cultural and sporting services
Sub-Sector:
Industry Classification: CPC 963 Library, archive, museum and other cultural services
CPC 96332 Nature reserve services, including wildlife preservation services
CPC 96492 Gambling and betting services CPC 96412 Sports event organization services
Type of reservation: Article 3.6 (Market Access) Article 3.7 (National Treatment) Article 3.8 (Most-Favoured-Nation Treatment) Article 3.9 (Senior Management and Boards of Directors) Article 3.10 (Performance Requirements) Article 3.14 (Market Access) Article 3.15 (Local Presence) Article 3.16 (National Treatment) Article 3.17 (Most-Favoured-Nation Treatment)
Description: Investment Liberalisation and Cross-Border Trade in Services
Liechtenstein reserves the right to adopt, maintain or modify any measure with respect to: