The SOL Foundation is based in the Principality of Liechtenstein. Liechtenstein lies within the Alps on the upper course of the River Rhine and shares borders with Switzerland and Austria.
The Principality of Liechtenstein is a constitutional hereditary monarchy on a democratic and parliamentary basis. The power of state is shared between the Prince and the people. The Principality is based on the 1921 constitution.
The Constitution sets out two methods of direct democracy: the Initiative and the Referendum. Legislative power lies with the Parliament, executive power with the Government. The judicial system in Liechtenstein is known as the Court of Justice (“Landgericht”); the highest judicial authority is the Supreme Court (“Oberster Gerichtshof”).
Liechtenstein is a highly industrialised country. Around 40% of the workforce is employed in the industrial sector, which together with the manufacturing sector generates almost 40% of the country’s gross value added. Though there are a number of large industrial companies in the Principality, it is the many small and medium-sized enterprises which form the backbone of Liechtenstein’s economy.
Another important economic factor is the country’s position as a professional, stable and innovative financial centre. The financial services sector is second only in size to the industrial sector.