Financial place
The Principality of Liechtenstein is a constitutional hereditary monarchy on a democratic and parliamentary basis. The power of the state is enshrined in the Prince and the people.
Liechtenstein participates in a customs union with Switzerland and employs the Swiss franc as national currency. It has been a member of the European Economic Area, an organization serving as a bridge between the European Free Trade Association (EFTA) and the European Union since May 1995.