02 Aug Coming to Andorra? New Requirements to Live in Andorra
If you are thinking about living in Andorra, you must know the new requirements passed by the Government of the Principality in the last modification of the qualified Law on Immigration. We explaing them to you:
In the ACTIVE RESIDENCES AS FREELANCES, lately the Andorran authorities had realized that some advisors had fraudulently processed this type of residences. To avoid that, they have become a bit more strict, but nothing that we can not overcome. From now on it will be necessary to:
- Obtain a foreign investment authorization participate in a company in Andorra (requirement that already existed), in which its participation exceeds 20%.
- Deposit in the AFA (Andorran Financial Authority, previously called INAF) the amount of € 15,000. Here we a door opened, because it is not always necessary: customers of entities recognized by the Andorran Government should not deposit these € 15,000. We still have to confirm if companies can be recognized as such entities.
- Prove that the company has real economic activity and is the owner of a business with activity in Andorra.
With the PASSIVE RESIDENCES FOR ATHLETES from now on they can do non-profit activities such as the management of their own assets or manage companies holding a stake equal to or greater than 50%. They can also continue doing their professional activities as long as 85% of the activity is outside the country. With this modification it is accepted that athletes work as the managing director of their Andorran companies if they do not receive a salary for it. Clearly, now they can do activity in the country!
In the RESIDENCES FOR POSTED WORKERS covered by the Social Security of Spain, France or Portugal, in the event that the work has not been completed, we can now request an extension of another 6 months, without having to leave the country during 5 months, as before. After the Double Taxation Agreement with the three countries, this modification opens another door for foreign companies to work in Andorra and open new markets.
If you want us to explain all the alternatives to come to live in Andorra and see which one is the best for you, you just have to talk to us! Call us or write us HERE.