Types of residence
Andorra is an economically developed principality where the tax rate does not exceed 10%. The principality has a stable banking system and developed commercial relations with other countries.
Andorra offers two types of residence.
1. Passive residence. This type of residence is given for investments in Andorra; you will not be bound to a country and will be able to choose any place for living and doing business.
If your aim is to purchase assets and keep money flowing, this type of residence will be the safest for you. To get the passive residence you need to invest 400,000 euros in the economy of Andorra: 350,000 euros in real estate or debt obligations and 50,000 euros in the reserve fund of Andorra.
2. Active residence. This type of residence allows you to open your own business and use the loyal conditions of paying taxes in Andorra.
To get the passive residence you need to:
- open a company;
- own more than 20% of company ́s shares;
- transfer a refundable security deposit in the amount of 15,000 euros to the account of the Ministry of Finance of Andorra.
Based on that you can get an active residence and work exclusively in your own company.
Registration of a company abroad gives you many advantages in doing business but it is a complex procedure requiring knowledge of various nuances. To avoid these difficulties our high-qualified experts will help you to open a business in Andorra easily and on good terms.
