Liechtenstein joined the Schengen zone

20.12.2011

From 19 December 2011 the effect of the Schengen Agreement will apply to the Principality of Liechtenstein. At the meeting of the European Commission the entry of the state in the Schengen zone was announced - now the agreement to open borders will extend to 26 countries, covering more than 400 million people.

Since yesterday the checks on the borders of the principality with the other states-parties of the Schengen Agreement were cancelled. Let’s recall that an obstacle to the accession of Liechtenstein to the Schengen area was objections of Swiss and Germany, based on the fact of ineffective control of the principality in tax evasion.

However, after 13 December 2011 - on that day the Council of Europe declared the readiness of Liechtenstein to implement fully the obligations under the Schengen agreement - the entry to the zone became possible.

Expert’s opinion

“Joining the Schengen zone for Liechtenstein is a huge plus, providing open borders of the states - parties of the agreement. This will bring beneficial effect on the trading activity of companies. For many years exactly the principality of Liechtenstein has been tax haven for many business structures. And now, in the zone of ​​Schengen, the country plans to remain attractive in the banking sector also”.

On the basis: www.neurope.eu

Vorontsova Maria ( the lawyer of international consulting department of Honest&Bright)