Liechtenstein

Its favorable tax laws have made it the headquarters of numerous holding companies. In proportion to its size Liechtenstein is the most highly industrialized nation in the world (metal-processing, chemical and pharmaceutical, textile and food industries), and its per capita income is also one of the highest in the world. The language of the country is an Alemannic dialect of German.The region of present-day Liechtenstein was already settled during the Early Stone Age. In the Roman period a road traversed the region from north to south. The county of Vaduz, established in 1342, was acquired in 1712 by Prince Hans Adam of Liechtenstein and combined with the lordship of Liechtenstein. On January 23, 1719 Emperor Karl VI finally granted both counties the status of the Imperial Principality of Liechtenstein. In 1806 Liechtenstein was joined to the Rheinbund by Napoleon and subsequently the German Bund. With the dissolution of the German Bund Liechtenstein became an autonomous state. Prince Franz Josef II died in 1989, a week after his wife Gina, in his 51st year of office. He was succeeded by the Crown Prince Hans Adam II, who had already taken over the leadership of the government in 1984.From 1852 until after the First World War Liechtenstein was joined with Austria in a currency union, but in 1924 it formed an economic union with Switzerland (using Swiss currency and under Swiss customs and postal administration but with its own stamps). The Principality of Liechtenstein is a member of the European Parliament, the European Free Trade Association (EFTA) and the United Nations.The Principality of Liechtenstein is a constitutional monarchy, inherited through the male line. The Parliament consists of 15 delegates elected for four years by secret ballot. Legislation may be changed by referendum.