Office for Financial Market Innovation and Digitalisation

The Office for Financial Market Innovation and Digitalisation (SFID) acts as the Liechtenstein government's central advisory and coordination body for innovation in the areas of the financial market, new technologies and digitalisation. As a strategic unit, SFID is responsible for the further development and implementation of the government's innovation framework, focussing on providing advice on specialist issues, supporting the government's strategic objectives, promoting the innovation location and coordinating between government agencies, the financial sector and (international) partners.

The broad range of tasks includes supporting and advising (financial) market participants, shaping government framework conditions, international cooperation in the area of financial centre innovation and implementing EU digitalisation legislation. With its work, SFID makes a decisive contribution to strengthening the financial centre, the innovation location and the innovation ecosystem in Liechtenstein.

The core tasks and activities of SFID are:

1. Business services and advice

We are here to answer questions related to innovation, new technologies and digitalisation in Liechtenstein.
We help coordinate cooperation with the right experts and authorities.
If financial market-related companies need licences or want to set up in Liechtenstein, we are here to help.
We offer advice on setting up the special legal form of Liechtenstein Venture Cooperative (LVC).

2. Further development of the state framework conditions

On the business side:

Through the innovation clubs, SFID receives suggestions and proposals for improving the legal/regulatory framework conditions for companies and prepares the basis for decision-making. SFID can take over the project management during implementation.
for further information -> Impuls Liechtenstein

On the part of the authorities:

Proposal, inclusion, concept development and support for the implementation of ideas or projects on the part of the authorities to improve the framework conditions and prerequisites. (e.g. TVTG Act, Legal Entity Identifier (LEI)

3. International co-operation

Monitoring international developments
Participation in international committees
Involvement in international co-operation
Further development of the state framework in connection with higher-level regulation

Thematic areas: Artificial intelligence (AI), blockchain, staking and lending, decentralised autonomous organisations (DAOs), decentralised finance (DeFi), non-fungible tokens (NFTs), sustainability and social impacts

4. Innovation location

Knowledge of new technologies and a deeply rooted culture of innovation is particularly important for the authorities. That is why SFID sees itself as a:

Driving force for exchange between authorities, market participants and the broader innovation ecosystem (e.g. DigiHub)
Network in the FinTech, start-up and innovation sector
Organiser for the discussion of current topics Blockchain & Innovation Circle (BIC)

5. EU digitalisation acts and programmes

Since 1.1.2022, the SFID has been responsible for the adoption of European legal acts in the area of digitalisation. SFID oversees the EU legal acts to be incorporated into the EEA Agreement in the area of digitalisation, represents Liechtenstein in the corresponding EFTA and EU working groups and coordinates the necessary implementation measures in Liechtenstein. In order to fulfil these tasks, SFID works closely with the relevant authorities and ministries involved.

Thematic areas: Platform-to-Business Regulation, Digital Markets Act, Digital Services Act, Free-of-Data Regulation, Data Governance Act, eGovernment, Artificial Intelligence (AI), European Digital Innovation Hub (EDIH)