Liechtenstein

Liechtenstein (LIK-tən-styne; German: [ˈlɪçtn̩ʃtaɪn]), officially the Principality of Liechtenstein (German: Fürstentum Liechtenstein), is a German-speaking microstate situated in the Alps between Austria and Switzerland in Central Europe. The principality is a semi-constitutional monarchy headed by the Prince of Liechtenstein; the Prince's extensive powers are equivalent to those of a President in a semi-presidential system. Liechtenstein is bordered by Switzerland to the west and south and Austria to the east and north. It is Europe's fourth-smallest country, with an area of just over 160 square kilometres (62 square miles) and a population of 38,749. Divided into 11 municipalities, its capital is Vaduz, and its largest municipality is Schaan. It is also the smallest country to border two countries. Liechtenstein is one of only two doubly landlocked countries in the world. Economically, Liechtenstein has one of the highest gross domestic products per person in the world when adjusted for purchasing power parity. The country has a strong financial sector centred in Vaduz. It was once known as a billionaire tax haven, but is no longer on any official blacklists of uncooperative tax haven countries. An Alpine country, Liechtenstein is mountainous, making it a winter sport destination. Liechtenstein is a member of the United Nations, the European Free Trade Association, and the Council of Europe. Although not a member of the European Union, it participates in both the Schengen Area and the European Economic Area. It has a customs union and a monetary union with Switzerland.