Andorra tax advantages
-no personal wealth tax
-no inheritance tax
-no tax on dividends received from Andorran companies and Andorran holding companies
-no tax on trading in financial instruments (shares)
-no, or minimal tax on foreign income (when properly structured)
-maximum tax rate in Andorra is 10%
Andorra lifestyle advantages
-security: ranked as most secure country in the world
-neutrality and stability: has stayed clear of wars and tensions longer than any other country
-Andorra has one of the highest life expectancy in the world (longest for men)
-Nested between France and Spain, you will receive a bit of both
-High quality of life and affordable living
-High degree of privacy and respect of the private sphere
-Possibility to register a Yacht or Jet under very favorable conditions
-Andorra one of healthiest countries in the world. Ranked 4 in the world by the renowned medical research journal “the Lancet”.
Andorra residencies are divided into two main categories: residencies without work permit and residency with work permit. The first having 3 subcategories.
All residencies must provide a no criminal record and pass a simple medical exam for any noticeable diseases.
RESIDENCIES WITHOUT WORK PERMIT
They have the following in common:
- a refundable bond of EUR50.000 to be deposited with INAF
- an additional EUR10.000 for each dependant
- a proof of sufficient economical means of support. This is at least 3 x the minimum yearly salary in Andorra + 1 x the minimum yearly salary for each dependent. Minimum Andorran yearly salary for 2017 is EUR11.900.
- a proof of medical, incapacity and old age insurance valid in Andorra
- a rental contract or title deed of residential property in Andorra
- an undertaking of spending at least 90 days a year in Andorra
1.Category Residency without lucrative activity
This category was formerly called “passive residency with investment”. Besides what is required for all residencies without work permit, it also requires a minimum total investment of EUR400.000 into Andorra (the EUR50.000 bond and any EUR10.000 bond being deductible from that amount). This investment can be made in:
- real estate
- participations in Andorran companies
- financial instruments issued by entities resident in Andorra
- financial instruments issued by public administrations in Andorra
- non-interest bearing deposit with INAF
This category resident is allowed to be the administrator of an Andorran company for which he has 50% or more participation. But not receiving a salary as a paid employment. This category is the most straight forward to obtain.
2.Category Residency for professionals with an International project
This category was formerly called “passive residency with international business”. Besides what is required for all residencies without work permit, this one requires being able to present a successful project, that will in the eyes of the administration be of interest to Andorra and be viable. This business should trade a minimum of 85% outside Andorra and can employ a maximum of one person.
3.Category Residency for reasons of scientific, cultural and sports interests
A person that has international recognition for his talent in the world of science, culture or sports can apply for this category of residency. At least 85% of this person´s activity must be outside Andorra. A detailed CV with supporting documents must be provided.
RESIDENCY WITH WORK PERMIT
This residency can be applied threw Andorran person´s or entities. You can form a business in Andorra, but these residents are expected to be in Andorra most of the time of the year as would a regular working Andorran. Controls by authorities are performed.
MORTAGES AND BANKS IN ANDORRA
Banks in Andorra offers High Class Private Banking for families and entrepreneurs looking for wealth preservation and discretion. Andorran banks are amongst the most capitalized in the world and have received many international distinctions. Mortage loans are available to the qualified client. Andorra Partners Group can provide bank introductions.
REAL ESTATE IN ANDORRA
Most new residents will acquire a residential home as part of their required investment or while looking for something of interest some may also rent their home. In Andorra the fees for the buyer are 2% to the government and 2% to the parish. Notary fees are also fixed by law and for purchasing a house for EUR350.000 the new owner pays about EUR1063 to the notary. Real Estate agent fees are paid by the seller. If the interesting property is not in your own real estate agent list, your dedicated real estate agent can still conclude the deal since most real estate agents cooperate with each other in Andorra. Andorra Partners put you in direct contact with a fully licensed and trusted real estate agent with English as native language, please fill the form below with your requirements: