Obtain an official extract from the Land Registry
Agency: Land Registry
An official extract from the Land Registry office in the Office of Justice located in Vaduz is obtained
This procedure must be done to ensure that there is no arrears attached to the property. This extract is needed to be included in the contract. Either a seller or a seller’s lawyer obtains the extract. The extract includes information on the plot size, any building restrictions, any potential liens.
Time and cost: 1 day, CHF 20 (CHF 20.00 for online excerpt, CHF 10.00 for hard copy paid cash at the counter)
Obtain a cadastral extract from the Office for Construction and Infrastructe (ABI)
Agency: Office for Construction and Infrastructe (ABI)
A cadastral extract from the ÖREB Kataster is obtained at the Office for Construction and Infrastructe (ABI). This extract is obtained in person.
Time and cost: 1 day, CHF 40
Lawyer prepares the sale contract
Agency: Lawyer’s office
The sale contract is prepared by a lawyer and is signed by the parties. The lawyer’s fees vary from 0.3% to 1% of the property value, depending on the complexity of the contract.
Time and cost: 2 days, CHF 38,206.66
The contract is signed before an official of the Land Registry
Agency: Land Registry
The Land Registry official checks the accuracy of the contract and ensures its compliance with the Registry’s requirements. Once the contract is reviewed, the Land Registry issues a final decision (ordinance) stating whether the transaction can be carried forward. The Land Registry also prepares and issues an invoice with the relevant transaction fees. The fees commonly range between 1,000 and 2,000 CHF. Both the Tax Authority and the Landeskasse of Liechtenstein (agency that keeps track of all the officially issued invoices) get notified when an invoice is issued.
Time and cost: 1 day, CHF 20
Initial meeting with Tax Authority on Capital Gain Tax
Agency: Tax Authority
This informal meeting with the Tax Authority is not required by law but in practice, it is done 90% of property transfer transactions. During this consultative process a seller would get a free estimate for the Capital Gains Tax (it can vary between 2 up to 20%) and will receive the information on how the tax is going to be calculated for this case. This would insure the smooth running of the transfer process and would eliminate any unpleasant surprises/disagreements and hence delays. Capital Gains Tax (CGT) can be high and knowing the amount in advance allows the seller to have enough funds to settle the CGT. At this meeting a tax adviser also checks all the documents and might request some additional proof of the works that have been performed on the property prior to assigning an assessor to the case. This meeting allows the seller to get a better clarity on the tax deductions and the assessor would also have a better understanding of what to check on the property.
Time and cost: 7 days, no charge
Receive inspection from Tax Authority
Agency: Tax Authority
The assessor physically visits the property and checks all the alleged changes/renovations to the building and land to verify the submitted documentation. Once all the documents are processes, the Tax Authority issues the final invoice.
Time and cost: 1 day, no charge
Payment of Capital Gain Tax and contract processing fees
Agency: Commercial Bank
The fees for processing the contract and the Capital Gain tax as determined by the Tax authority are paid at a commercial bank. Capital gain tax, that can go up to 24% of the property value. The payment must be submitted in person either at a bank or through a post office. Once the payment is made, Landeskasse and the Tax Authority get automatic notifications.
Time and cost: 1 day, CHF 1,500 (Contract processing fees CHF 1500 + 24% of Capital Gain Tax (not included in calculation per methodology))
Finalize registration at the Land Registry
Agency: Land Registry
Once the taxes are paid and there are no outstanding issue with the sale, the Land Registry does the final check of the contract. Then, the paper copy of the contract is stamped and filed at the Land Registry. Copies are also sent to both the buyer and the seller. This is an internal procedure and seller/buyer do not need to be present. Once the payment is made, the Tax Authority and the Landeskasse (agency that keeps track of all the officially issued invoices) get automatic notifications.
Time and cost: 3 days, CHF 45,847.99 (0.6% of property value)
