Tax scandal involving Matthias Kuehn: investigations now extend to Liechtenstein

New round in the long-running case: Kuehn and the network reaching Liechtenstein

The name Kuehn still echoes along Mallorca's promenades. At the café on the Passeig Mallorca plates are cleared, espresso is sipped standing up, and conversations between the tables are once again about files and international accounts. What started long ago as an island rumor has now taken shape: Spanish tax authorities are expanding their investigations and are turning their attention to a law firm in Liechtenstein, as detailed in Escándalo fiscal en torno a Matthias Kühn: las investigaciones llegan ahora hasta Liechtenstein. This is a moment where local curiosity and international legal issues collide.

What this is really about

Investigations into developer Matthias Kuehn have been ongoing for more than two years. Formally the case involves insolvencies, complicated purchase and payment sequences, and a web of companies. Investigators portray a picture of shell companies, trustees and transfers of assets used to shield claims and assets from creditors and the tax authorities. Originally the claim was around 13 million euros; authorities now speak of significantly higher sums—partly in the high double-digit millions (see 25 millones en el foco: el juicio contra Matthias Kühn en Palma y lo que la isla debería aprender).

New is the focus on a Liechtenstein law firm that is said to have acted as administrator or manager of corporate umbrellas for several parties. For Mallorca this is more than a legal detour: many investors, buyers and neighbors want to know whether and how their market is affected by such constructions.

Why Liechtenstein plays a role — and what problems this creates

Liechtenstein is no stranger to tax matters: although the principality has opened up in recent years, it remains attractive for complex wealth planning due to particularly discreet structures and specialized service providers. The investigations show how difficult cross-border clarification can be: documents and procedural steps must be requested, translated and aligned legally. Authorities learned during the Panama Papers era that transparency takes time and international cooperation.

In practice this means: traceability of capital flows, questions about the beneficial owners and the effectiveness of national registers come to the fore. For Mallorca this means: buyers should check who is really behind companies; creditors must plan for patience and international legal routes; courts need time to understand complex construction mechanisms.

Concrete effects on the island

The consequences for daily life on the island are threefold. First: reputational risk. When large cases make the headlines, trust declines and sellers/investors become more cautious. Second: market mechanics. Properties may be sold more slowly or subjected to more intense scrutiny—which can stabilize prices in the short term but also raise transaction costs in the long term. Third: political and regulatory reactions. Mallorca's authorities and notaries might demand stricter proof for property transfers.

On the Passeig you now hear more than just the sound of coffee machines: conversations about bonds in the double-digit millions, planned hearings, and questions about the role of relatives. Kuehn's wife was mentioned in earlier steps but, according to the current status, is not the main accused—nevertheless her name remains part of the rumor mill.

The legal timetable

The investigating court has scheduled hearings for the end of October. Interrogations of the main accused, his sons and other involved parties are planned. Dates had originally been set for July but were postponed. A decision on the posted security payment—the bond in the double-digit millions—is still pending. Such procedural dynamics show how long and drawn-out complex economic proceedings can be.

What has been neglected so far — and what should be done

The public debate often lacks a view of practical prevention. It is not only about the guilt or innocence of an individual, but about systemic questions: How complete are registers of beneficial owners? How fast do information requests to third countries like Liechtenstein work? And: what role do notaries, lawyers and banks on Mallorca play in checking the origin and legality of large money flows?

Solutions that are repeatedly mentioned in island conversations and by experts: better international cooperation in financial investigations, mandatory transparency obligations for property purchases by legal entities, stronger due diligence obligations for notaries and banks, and more staff and expertise at local tax authorities. Small measures, big impact: even mandatory disclosure of the beneficial owner can make transactions more transparent and investigations easier.

Conclusion: The Kuehn case is more than scandal material for the plaza — it is a test case for cross-border investigative work, for the resilience of our real estate market and for trust in legal processes. For residents and investors the takeaway remains: look closely, ask questions and do not rely on appearance alone. Mallorca will feel the legal dust for a while yet.

Quick facts

Investigations: ongoing for more than two years; original claim: around 13 million euros; current estimates: significantly higher; bond: double-digit millions; new focus: law firm in Liechtenstein; next dates: hearings end of October.