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The Establishment is a legal form that exists only in Liechtenstein as a legal entity under private law. It is suitable both for commercial as well as for non-commercial purposes. While the Establishment is not so well-known internationally, it continues to be used for the purpose of asset management.

In contrast to the situation under other legal systems, the Liechtenstein Establishment is not an institution under public law. Instead, it is a legal entity under private law with independent legal personality. Its assets represent independent assets which are available solely to cover the liabilities of the Establishment. The Establishment recognises only beneficiaries which benefit economically from it and which are named in bylaws. There are no members, partners or shareholders, and the capital is not normally divided into shares. The Establishment may engage in commercial transactions of all kinds, it may administer its own assets, or may pursue any other objective permitted by law.