The high-resolution bistatic lidar developed at the Physikalisch-Technische Bundesanstalt (PTB) aims to overcome the limitations of conventional monostatic lidar technology which is widely used for wind velocity measurements in wind energy and meteorology applications. Due to the large measurement volume of a combined optical transmitter and receiver tilting in multiple directions, monostatic lidar generally has poor spatial and temporal resolution. It also exhibits large measurement uncertainty when operated in inhomogeneous flow, for instance, over complex terrain. In contrast, PTB’s bistatic lidar uses three dedicated receivers arranged around a central transmitter, resulting in an exceptionally small measurement volume. The coherent detection and modulation schemes used allow the detection of backscattered, Doppler shifted light down to the scale of single aerosols, realising the simultaneous measurement of all three wind velocity components. This paper outlines design details and the theory of operation of PTB’s bistatic lidar and provides an overview of selected comparative measurements. The results of these measurements have shown that the measurement uncertainty of PTB’s bistatic lidar is well within the measurement uncertainty of traditional cup anemometers, while being fully independent of its site and traceable to the SI units. This allows its use as a transfer standard for the calibration of other remote sensing devices. Overall, PTB’s bistatic lidar shows great potential to universally improve the capability and accuracy of wind velocity measurements, such as for the investigation of highly dynamic flow processes upstream and in the wake of wind turbines.