AGP Executive Report

Tech Diplomacy: Liechtenstein Prime Minister Brigitte Haas’s first official visit to Vietnam is expected to deepen cooperation in technology, innovation and business, with the Vietnam-EFTA trade deal providing a framework for closer ties. Cybersecurity: A July attack on Liechtenstein’s beneficial ownership register exposed data linked to about 31,000 entities. The register remains offline while authorities review its security and integrity. Defence Innovation: Liechtenstein-based SMEs can seek support from the EU’s €115 million AGILE programme for defence technology projects, due to launch in 2027. Investment Rules: A German draft law would treat Liechtenstein investors like other non-EU investors, potentially bringing more deals under scrutiny. Travel Access: Liechtenstein ranked 28th among the 29 Schengen countries in a new passport ranking.

Vietnam Tech Ties: Ahead of Prime Minister Brigitte Haas’s first official visit to Vietnam, the countries’ ambassador says the trip could deepen cooperation in high technology, innovation and business. A recently concluded EFTA–Vietnam trade deal may help turn those ambitions into investment and partnerships. Cybersecurity: A July attack on Liechtenstein’s beneficial ownership register exposed data linked to about 31,000 entities, including owners’ names and birth dates. The register is offline while authorities review its security. Defence Innovation: Liechtenstein-based businesses are eligible for the EU’s new €115 million AGILE fund, which will back small firms developing defence technologies, with the programme expected to start in 2027. Investment Rules: A draft German law would treat Liechtenstein investors as non-EU investors in parts of its foreign-investment screening regime, potentially bringing more deals under review.

Defence Innovation: Liechtenstein companies could apply for the EU’s new €115 million AGILE programme, which will offer grants covering up to 100% of eligible costs for SME defence projects. The fund is expected to support 20–30 projects, with operations starting in early 2027. Cybersecurity: A breach of Liechtenstein’s beneficial ownership register exposed data on about 31,000 legal entities, including owners’ names, birth dates and nationalities. The government took the register offline and is reviewing its security. Investment Rules: A proposed German law would treat Liechtenstein investors like other non-EU investors in screening reviews, potentially bringing more investments under scrutiny if the draft is adopted.

Defence Technology: Liechtenstein businesses may be eligible for the EU’s €115 million AGILE fund for small firms developing defence technology. The programme is expected to launch in early 2027, with grants for 20–30 projects. Cybersecurity: A July cyberattack exposed data on about 31,000 entities in Liechtenstein’s beneficial ownership register, including owners’ names, birth dates and nationalities. The register was taken offline while its security is reviewed. Investment Rules: A draft German law would treat Liechtenstein investors like other non-EU investors in screening some investments, potentially widening scrutiny of cross-border deals. The proposal is still at an early stage.

Investment Rules: A leaked German draft would bring Liechtenstein investors into foreign-investment screening on the same footing as other non-EU investors, replacing their current exemption from cross-sectoral checks. The proposal is still at an early stage. Cybersecurity: Liechtenstein says attackers copied data on about 31,000 companies, foundations and trusts from its beneficial-ownership register. The register is offline while safeguards are reviewed; no bank records were involved. Defence Innovation: Liechtenstein firms are eligible for the EU’s new €115 million AGILE programme, which will fund small and medium-sized businesses developing defence technology, including projects using drones and AI. It is expected to start in early 2027. Digital Finance: Balzers-based Bank Frick is partnering on Talea DRN, a new securitization note issued as both a conventional security and a digital token, with the same rights and collateral in either form.

Register Security: A cyberattack exposed data linked to about 31,000 Liechtenstein companies, foundations and trusts, including beneficial owners’ names and dates of birth. The government took the register offline for security reviews; it says bank and financial-institution records were not affected. Defence Innovation: Liechtenstein-based entrepreneurs can apply to the EU’s new €115 million AGILE programme, which will fund small-business defence technology projects, with grants covering up to 100% of eligible costs. The scheme is expected to launch in early 2027. Digital Finance: Bank Frick is partnering on Talea DRN, a new Luxembourg-issued investment note available as both a conventional security and a digital token, with the same rights and collateral in either form.

Schengen Biometrics: Liechtenstein citizens are exempt from the EU’s Entry/Exit System fingerprint and facial-image registration rules for non-EU visitors. Digital Finance: Balzers-based Bank Frick is the digital-asset partner for MTCM’s new Talea DRN, which lets investors hold the same audited note as either a traditional security or a digital token. Science and Technology Ties: India and Switzerland agreed to expand cooperation in science, technology, transport and infrastructure, alongside broader trade and investment plans involving EFTA, which includes Liechtenstein.

Border Technology: Liechtenstein citizens are exempt from biometric registration under the EU’s Entry/Exit System, which records fingerprints and facial images from many non-EU travellers. Innovation Ties: Liechtenstein is part of EFTA, whose trade agreement with India aims to spur investment and jobs; officials say it has already supported about 160,000 jobs, while discussions point to deeper technology and research links. Digital Finance: Liechtenstein-based Bank Frick is partnering on Talea DRN, a new investment note that can be held as either a conventional security or a digital token, with the same rights in both forms. Investment Rules: A German draft law would treat investors from Liechtenstein like other non-EU investors in screening foreign investments; the proposal is not yet final.

India-EFTA Innovation: A year into its trade pact with India, the EFTA bloc—which includes Liechtenstein—is seeking to turn investment promises into practical gains. Discussions have highlighted technology partnerships, research and manufacturing, with India reporting about 160,000 jobs linked to the agreement so far. Digital Finance: Liechtenstein’s Bank Frick is partnering on Talea DRN, a security that can be held as either a conventional investment or a digital token, with the same rights in both forms. Schengen Borders: Liechtenstein citizens are exempt from the EU’s biometric Entry/Exit System, which records fingerprints and facial images from many non-EU short-stay travellers. Investment Rules: A German draft law would treat Liechtenstein investors like other non-EU investors in screening foreign investments; the proposal is still under government review.

Border Technology: Liechtenstein citizens are exempt from the EU’s biometric Entry/Exit System, which records fingerprints and facial images from many non-EU short-stay travellers. Digital Finance: Balzers-based Bank Frick is partnering on Talea DRN, a new investment note that can be held as a conventional security or digital token, with the same rights in either form. Research Links: Switzerland and India plan new joint projects in health, clean energy and space; Liechtenstein is part of EFTA, whose trade partnership with India is driving wider cooperation.

Digital Finance: Liechtenstein’s Bank Frick is the digital-asset partner for newly launched Talea DRN, a Luxembourg note that can be held as a conventional security or token, with the same rights in either form. India-EFTA Innovation: India and Switzerland signed agreements covering science and technology, transport and infrastructure, while leaders highlighted an EFTA investment goal of $100 billion and one million jobs in India over 15 years. Liechtenstein is an EFTA member, though the agreements’ direct role for the principality was not specified. Investment Rules: A draft German screening law would treat Liechtenstein investors like other non-EU investors, as required by revised EU rules; the proposal is still under discussion.

EFTA Innovation: India and Switzerland signed agreements covering science, technology and transport, as leaders highlighted the wider EFTA trade pact’s ambitions: $100 billion in investment and one million jobs in India over 15 years. Liechtenstein is an EFTA member; officials say the pact has already supported about 160,000 jobs. Digital Finance: Bank Frick, based in Balzers, is partnering on Talea DRN, a Luxembourg-issued note that investors can hold as either a conventional security or a digital token, with the same rights. Investment Rules: A German draft law would place investors from Liechtenstein in the same screening category as other non-EU investors, potentially affecting cross-border deals if the proposal is adopted. Arctic Trade: Canada and Iceland backed stronger NATO presence in the region and welcomed talks on updating their trade agreement with EFTA, which includes Liechtenstein.

India–EFTA Innovation: At a summit this week, officials said the trade pact has supported about 160,000 jobs, with investment and innovation partnerships still a focus. Liechtenstein is one of the four EFTA states. Digital Finance: Balzers-based Bank Frick is partnering on Talea DRN, a new security that can be held as either a conventional investment or a digital token, with the same rights in both forms. Investment Screening: A German draft law would treat Liechtenstein investors like other non-EU investors; the proposal is not final, but could reshape how cross-border investments are reviewed.

EFTA Innovation: At the India-EFTA Prosperity Summit, officials said the trade pact has supported about 160,000 jobs so far, with a longer-term goal of $100 billion in investment and one million jobs over 15 years. Liechtenstein is one of the four EFTA members, whose companies are exploring deeper technology, research and manufacturing ties with India. Digital Finance: Liechtenstein’s Bank Frick is partnering on Talea DRN, a Luxembourg-issued investment note available as either a traditional security or a digital token. Investors hold the same note and rights in either form, with the option to switch between them.

Digital Finance: MTCM launched Talea DRN in Balzers, a note designed to work as both a conventional security and a digital token. Bank Frick is its digital-asset partner, linking Liechtenstein’s financial sector with blockchain-based investment. India–EFTA Technology Links: India and Switzerland are advancing investment-treaty talks and broader cooperation in technology, innovation and infrastructure. Their agreements also point to joint research in health, clean energy and space; Liechtenstein is part of the EFTA bloc behind the wider trade partnership. Data Privacy: A reported hack of Liechtenstein’s register has highlighted the privacy risks that can arise when public records are exposed.

Digital Finance: MTCM launched its Talea DRN note with Balzers-based Bank Frick as digital-asset partner and paying agent. The Luxembourg-issued note is available as both a conventional security and a token, with the same rights in either form. India–EFTA Ties: India and Switzerland are moving investment-treaty talks forward after signing agreements covering science and transport technology. Their wider trade pact includes Liechtenstein and targets $100 billion in investment and one million jobs in India over 15 years.