“Rofenberg” gives you and your internationally mobile employees occupational benefits coverage you can rely on – anytime, anywhere. The principle focus is on ongoing financial security in the event of death or disability and in retirement. And for good reason, because relocating from one country to another brings with it significant changes to personal, cultural and social circumstances. This makes it all the more important for employees to know that someone is looking out for them and their dependants.
Before an international assignment, it’s a good idea to check the labor and social insurance conditions, the entitlement to occupational benefits, as well as the contribution requirements that apply in the country you will be working in.
The purpose of the foundation is to provide occupational retirement, survivors' and disability pension benefits for the employees of the affiliated companies within the meaning of Art. 2 par. 1 of the Pension Fund Act of November 24, 2006 (PFG) to the exclusion of non-pension fund business. In particular, it administers occupational benefits for expatriates who are not subject to Liechtenstein’s old-age, survivors’ and disability insurance (AHV). The Foundation is subject to the oversight authority of the Financial Market Authority of Liechtenstein (FMA), Landstrasse 109, 9494 Vaduz.
Protection of risk benefits
Execution of investment activities
Administration and management
Name, registered office and entry in the commercial register of the Foundation
The Board of Trustees of the "Rofenberg" Employee Welfare Foundation is composed of the following members:
The Organization for Economic Co-operation and Development (OECD) agreed on this global standard in July 2014. On October 29, 2014, together with 50 other states and jurisdictions, Liechtenstein signed the multilateral agreement on the implementation of the global standard for the Automatic Exchange of Information (AEOI). The agreement establishes a multilateral framework for implementing the new standard bilaterally with interested and applicable states.
Under the AEOI, tax authorities in participating countries pass information on to the tax authorities of other countries concerning the earnings and assets held by taxpayers. The aim is to prevent cross-border tax evasion. Within Liechtenstein itself, the AEOI is implemented by means of the AEOI act, the AEOI ordinance and the AEOI information sheet from the tax administration. Information is collected on this basis and exchanged with the relevant partner states in the following year.
Based on the OECD standard, insurers must provide the following information concerning taxpayers who hold assets (account or policy) in a different country from their tax domicile:
Both natural persons and legal entities are affected by the AEOI if their tax resident status is not exclusively in the Principality of Liechtenstein. Financial institutions must therefore clarify the tax residence or residences of all of their customers.
For certain legal entities, persons who hold a controlling stake are also affected by the AEOI and must therefore also have their tax residence status clarified.
AXA Life Ltd intends to notify the affected customers within the Rofenberg Employee Welfare Foundation on an annual basis about the information sent.
Tax residence is determined by the respective national legal system. The following criteria are applied to determine an employee’s country of tax residence and consequently where their global income will be taxed:
The Principality of Liechtenstein already has agreements in place with numerous countries on the automatic exchange of information. The current status for the individual countries can be found on the website of the Ministry of General Government Affairs and Finance.
Under the Automatic Exchange of Information (AEOI), reporting Liechtenstein financial institutions submit reports to the tax administration. The tax administration forwards the information received to the competent foreign tax authority. Under the OECD standard, the reports must be sent electronically.
The reports to the tax administration are sent annually within six months of the end of the respective calendar year.
AXA International Business Competence Center
General-Guisan-Strasse 42, CH - 8400 Winterthur
Phone: +41 58 215 31 90