The Prince of Liechtenstein is the head of state of the small, landlocked country of Liechtenstein, located between Switzerland and Austria. The current prince, Hans-Adam II, has held the title since 1989, although he delegated most of his powers to his son, Joseph Wenzel, in 2004. The principality is known for its strong financial sector and high standard of living. Liechtenstein is a constitutional monarchy, meaning the prince shares power with elected officials. The prince has the authority to veto legislation and dissolve the parliament, but he also plays a ceremonial role in representing the country internationally.