- Residency by Investment
Andorra is a tiny independent state between Spain and France, with the area of 467.6 km² and with the population of 70 K people. Andorra is the 6th smallest country in the world, with high standard of living, offshore financial sector and steady economic growth. Andorra isn’t a member of the European Union and Schengen area, but it is a member of EU customs union and therefore the official currency is Euro. The official language of the country is Catalan, Spanish and Portuguese is widely spoken. Andorra has one of the most developed tourism industry in the world, as an estimated 10 Million tourists visit the country every year.
Andorra is a perfect place to settle for high-net worth individuals. The immigration law of Andorra was amended on the 1st of May 2012. There are three types of passive residency in Andorra:
- Resident without gainful activity - There is a mandatory rule the resident o reside at least 90 days per year in Andorra. The minimum investment requirement is 400,000 Euro (either in real estate, financial investment or shareholding in Andorran company). It is also required the investor to prove the independent funding of his/her lifestyle in Andorra. The initial deposit must be 50,000 Euro, which form a part of 400,000 Euro investments.
- Resident as a professional with an international business - There is a mandatory rule, the applicant to prove the independent funding of his/her lifestyle in Andorra. The applicant is obliged to deposit 50,000 Euro plus 10,000 Euro for per dependent held by Andorran Government. Another requirement is that there must be minimum 1 employee in Andorra and 85 % of the revenues must be generated outside the country.
- Resident because of a scientific, cultural or sports reason - There is a mandatory rule, the applicant to prove the independent funding of his/her lifestyle in Andorra. The applicant is obliged to deposit 50,000 Euro plus 10,000 Euro for per dependent held by Andorran Government. The applicant must reside at least 90 days per year in country.
Residing in Andorra has several benefits, including favorable tax regimes with no wealth, capital gains, income, Estate duty or dividend taxation. The country has low crime rate and has one of the best healthcare systems in the world. The residence permit does not entitle investor to work in the country. The residence permit entitles investor to enjoy free travel between Andorra, France and Spain. Resident is an opportunity to obtain an Andorran citizenship after qualified period. It has to be mentioned that obtaining Andorran citizenship is very long and complicated process, as it can be applied after 20 years (provided that before application there was a 10 years permanent residency). In addition the Andorran law forbids the dual citizenship and requires from the applicant to renounce his/her primary citizenship. Obtaining citizenship is not a primary reason why investors want to choose Andorra. Favorable taxation system is the most important issue for them.
Andorra la Vella
Located in the continent of Europe, Andorra shares land borders with 2 countries: France, Spain.
Unitary parliamentary semi-elective diarchy
CET (UTC+1) | Summer (DST) CEST (UTC+2)
Reasons to choose Andorra?
- Favorable tax regime: with no wealth, capital gains, income, Estate duty or dividend taxation
- One of the best health care systems in the world
- Low crime rate and Safety
- Opportunity to obtain Andorra citizenship after qualified time
- Right to travel between Andorra, Spain, and France without restriction
- Obtain permanent residence permit in Andorra for all family members after qualifying period
- No right to work or rent commercial premises (active residence required)
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Entry denied: Libya