This Master’s Thesis aims to give an insight into Liechtenstein’s experience with State aid as a Member State of the European Economic Area (EEA). In order to do so, the EEA-Agreement and how it differs from the legal framework of the EU will firstly be introduced and the so-called two-pillar structure will be explained. Thereafter, the Master’s thesis focuses on the “old” State aid procedure and the State Aid Modernisation and shows the challenges created by the delayed incorporation of some EU acts into the EEA Agreement. Lastly, some important State aid cases regarding Liechtenstein will be reviewed.