Liechtenstein Embraces E-Commerce, Makes E-Signatures Legally Valid

Ulrika Lomas, Tax-news.com, Brussels

20 October 2000

As e-commerce is rapidly becoming the "new economy", most governments have realised the value of creating legislation which will enable e-commerce businesses to thrive and Liechtenstein is one of the latest countries to take steps towards building e-commerce within its borders.

Not wishing to be left behind in the race to become a major player in the new economy, the lawmakers of Liechtenstein are to introduce legislation that will allow electronic signatures to be legally valid in the principality. The laws are largely adopted from the European Union's guide-lines for electronic signatures.

The legislation, which will strengthen Liechtenstein's position in international e-commerce competition, will make electronic signatures just as legal as hand-written signatures and give them recognition in the entire EEA area. The government believes this move will encourage more electronic transactions as both the public and private sectors' confidence in Internet security rises.

Furthermore, internet access in Liechtenstein will also be encouraged, as Prime Minister Mario Frick has announced that telecommunication networks and services will be deregulated and liberalised to a greater extent than they are currently. This means that the protection that LTN Liechtenstein TeleNet AG now enjoys will cease, but the company says it is eager to compete and is interested in providing a complete range of services.

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