A RESIDENCY qualification for directors of companies established in the Alpine Principality of Liechtenstein, set up to help its authorities fight abuse of its liberal business laws, including money laundering, has been declared illegal.

The European Free Trade Area Court has ruled that the regulation discriminates against citizens of other EFTA countries, (Switzerland, Iceland and Norway), breaching fair trade treaty commitments made by Liechtenstein on joining the association.

Lawyers for the mini-state argued that that "by ...

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