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The Liechtenstein foundation is an entity with its own legal personality and is particularly suitable for the realisation of family-related or philanthropic intentions.

The Liechtenstein trust is especially noted as a civil-law instrument for the transgenerational protection and preservation of wealth and values as well as a means for conducting charitable activities.

The purpose of the foundation can be either of a private or philanthropic nature. Specifying which of the two can be considered the primary purpose is important in the determination of whether or not the foundation is subject to external oversight by the Foundation Supervisory Authority. Foundations of a purely or mainly private nature are not subject to any external supervision.