Principality of Liechtenstein

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Flag of the Principality of Liechtenstein Two equal horizontal bands of blue (top) and red with a gold crown on the hoist side of the blue band.

The Principality of Liechtenstein was established within the Holy Roman Empire in 1719; it became a sovereign state in 1806. Until the end of World War I, it was closely tied to Austria, but the economic devastation caused by that conflict forced Liechtenstein to enter into a customs and monetary union with Switzerland. Since World War II (in which Liechtenstein remained neutral), the country's low taxes have spurred outstanding economic growth. Shortcomings in banking regulatory oversight have resulted in concerns about the use of the financial institutions for money laundering. Liechtenstein has, however, implemented new anti-money-laundering legislation and recently concluded a Mutual Legal Assistance Treaty with the US. - CIA World Factbook.

Liechtenstein Coat of Arms

Liechtenstein - Fotw
In 1937, the head of government Joseph Hoop presented officially the new flag and gave a symbolic interpretation of its colours.
www.fotw.us/flags/li.html

Liechtenstein - wikipedia.org
At one time, the territory of Liechtenstein formed a part of the ancient Roman province of Raetia. For centuries this territory, geographically removed from European strategic interests, had little impact on the tide of European history.
en.wikipedia.org/wiki/Liechtenstein

Liechtenstein - U.S. Department of State
        The Liechtenstein Family of Austria acquired the fiefs of Vaduz and Schellenberg in 1699 and 1713 respectively, and gained the status of an independent principality of the Holy Roman Empire in 1719 under the name Liechtenstein. The French, under Napoleon, occupied the country for a few years, but Liechtenstein regained its independence in 1815 within the new German Confederation. In 1868, after the Confederation dissolved, Liechtenstein disbanded its army of 80 men and declared its permanent neutrality, which was respected during both world wars.
        In 1919, Liechtenstein entrusted its external relations to neutral Switzerland. After World War II, Liechtenstein became increasingly important as a financial center, and the country became more prosperous. In 1989, Prince Hans Adam II succeeded his father to the throne and in 1996 settled a long-running dispute with Russia over the Liechtenstein family's archives, which had been confiscated during the Soviet occupation of Vienna in 1945 and later moved to Moscow. In 1978, Liechtenstein became a member of the Council of Europe and then joined the UN in 1990, the European Free Trade Association (EFTA) in 1991, and both the European Economic Area (EEA) and World Trade Organization (WTO) in 1995.
www.state.gov/r/pa/ei/bgn/9403.htm