Published at: 13/01/2020 11:51 am
The Principality of Andorra is a hidden European gem, where you enjoy the tax advantages in exchange for living there as a tax resident only for three months per year.
Andorra is a favourite place of the wealthy since more than a hundred years. It is rich, beautiful and connects France with Spain. The quality of living is high, and you can enjoy the travel benefits of the European Union, without living in an EU Member State.
- You can live in Andorra, and you can move and stay free in the EU Schengen zone.
- Your family members (spouse and underage children) are included in the program so that they will receive the resident status as well.
- Andorra proudly owns one of the most attractive tax rules in Europe. Corporate and income taxes are low, and there are no wealth and inheritance taxes.
- The residence permit of Andorra allows you to become a citizen later.
- You can open a bank account in Andorra and deposit at least 150,000 euros.
- You purchase government bonds for at least 320,000 euros and maintain this investment during your entire residency.
- And there is a deposit to the Ministry of Finance (50,000 euros and 10,000 euros for each family member)
The temporary residence permit is issued first for two years and will be automatically extended for three years and then five and ten years.
Residents in Andorra can opt for one of the following categories:
Passive residency: For individuals who will carry out most of their activity offshore (outside of Andorra) during their residency.
Active residency: For individuals who wish to make Andorra their home and to work full time onshore (within the Principality)
- bank statement
- proof of stable income
- tax returns
- clean police certificate
- evidence of the ownership of a real estate
- certificate of marriage (if applies)
- birth certificates of the underage children
Interestingly, the validity of these documents (translated and apostilled is relatively short, ask for a consultation here to be able to submit the right documentation!)
Do you want to live in beautiful Andorra and become a resident?
Read here all the details of the immigration process in Andorra!