Assistance in opening a business in Andorra
Nowadays Andorra is a quite popular country for business registration. One of the main reasons for that – the lowest tax rates in Europe. See the comparative table on taxes in other European countries.
Since 2014 there have been serious changes in Andorran legislation in terms of establishing companies. Since the summer 2014, foreign investors have obtained the right to own 100% of the company and not only 49% as it had been before.
In Andorra you can open three types of companies
SA - a corporation with a registered capital of 60,000 euros
SL - Limited Liability Company with a registered capital starting from 3,000 euros
SLU - Limited Liability Company, but with one founder
Registration of companies in Andorra, steps
The whole process of registration on a turn-key basis lasts 2-3 months, it will depend on how quickly a person can get through bank compliance procedures.
The first step is to register a name of the future company. The chosen name should be unique – not yet mentioned in the register of established companies, better in Catalan language, and not containing certain geographical names. The process of registration takes approximately 10 working days.
The next step is to prepare a large package of documents for applying for a foreign investment permit. The process takes approximately 25 working days.
At the same time we submit the documents to the bank to obtain a temporary bank account where you have to deposit the registered capital (usually for SL and SLU 3,000 euros). A charter of the future company should be prepared as well.
As soon as all the documents are prepared, it will be possible to start the process of registration.
The last step will be to get a tax number, registration certificates and a confirmation of social insurance registration.
Just before you start working it is necessary to register a business activity. This process takes approximately 1 month and requires compliance with certain rules and regulations, such as installation of a fire extinguisher in your premises (it can be your office or flat if registered activities permit this).
Based on the fact of setting up a company, a non-resident founder can get residence in 10 days.
Interesting areas for investment: offline and online marketing and production, software and mobile applications development, restaurant and hotel business, tourism, innovative business, IT technologies (Blockchain, E-Sports, etc.), real estate investment.
