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Liechtenstein ( ( listen) LIK-tən-styne; German: [ˈlɪçtn̩ʃtaɪn]), officially the Principality of Liechtenstein (German: Fürstentum Liechtenstein), is a doubly landlocked German-speaking microstate in Central Europe. The principality is a constitutional monarchy headed by the Prince of Liechtenstein.
Liechtenstein is bordered by Switzerland to the west and south and Austria to the east and north. It has an area of just over 160 square kilometres (62 square miles), the fourth smallest country in Europe and has a population of 37,877. Divided into 11 municipalities, its capital is Vaduz, and its largest municipality is Schaan. It is also the smallest country to border two countries.Economically, Liechtenstein has one of the highest gross domestic products per person in the world when adjusted for purchasing power parity. Liechtenstein has been known in the past as a billionaire tax haven; however, it is no longer on any blacklists of uncooperative tax haven countries (see taxation section).
An Alpine country, Liechtenstein is mainly mountainous, making it a winter sport destination. Many cultivated fields and small farms are found both in the south (Oberland, upper land) and north (Unterland, lower land). The country has a strong financial sector centered in Vaduz. Almost 20,000 people commute to work in Liechtenstein. Liechtenstein is a member of the United Nations, the European Free Trade Association, and the Council of Europe, and although not a member of the European Union, the country participates in both the Schengen Area and the European Economic Area. It also has a customs union and a monetary union with Switzerland.
Liechtenstein - Siver News originally published at Liechtenstein - Siver News
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