Would you like to live in such a castle? Well, this one has already been taken as this is the residence of ruling Prince of Liechtenstein, Hans-Adam II. Liechtenstein is known as a principality as it is a constitutional monarchy headed by a prince. The reigning Prince is the head of state and represents Liechtenstein in its international relations . The Prince may veto laws adopted by parliament. The Prince can call referendums, propose new legislation, and dissolve parliament, although dissolution of parliament may be subject to a referendum.