ANDORRA: PASSIVE IMMIGRATION

ANDORRA: ADVANTAGES

The Andorran residency comes with various key advantages, such as the following:

1. 1. Have the right to live, study and create a business in Andorra;
   2. Free movement within Schengen zone with Andorran residency;
   3. Andorra offers one of the lowest tax rates in Europe. There is no taxation on dividends, inheritance and on luxurious good such as cars;
   4. The possibility to grant Andorran citizenship to your children if they are born on the Andorran territory during your residency;
   5. There is no tax on an annual revenue that is up to € 24,000. A net income that is between € 24,001 and € 40,000, will have an effective tax rate of 5%. Finally, a net income that is above € 40,001 has a tax rate of 10%;
   6. A bank system considered to be unparalleled. Andorran banks are among the most stable and solvent in the world;
   7. With one practical test, it is possible to obtain an Andorran driver license;
   8. Life expectancy: Andorra has one of the highest life expectancies in the world, exceeding 82 years on average;
   9. Multilingual education systems with an excellent reputation;
   10. Andorra offers one of the best healthcare services;
   11. Andorra has one of the lowest crime rates in the world;
   12. An affordable cost of life in comparison with the surrounding countries;
   13. Accelerated and simplified visa application for the United States, Canada, Australia, New Zealand, and more;
   14. The advantageous position of the territory should also be underlined since Andorra is located between France and Spain, close to beaches and mountains as well as airports and several major European cities such as Barcelona and Toulouse, both located a short drive away, only two (2) hours away;
   15. Winter and summer sports: Andorra has several world famous ski resorts, moreover the infrastructures are located in the stunning mountain range of the Pyrenees not further than a stone’s throw away.

ANDORRA: REQUIREMENTS

To satisfy the conditions outlined for the passive residency permit by Andorran immigration laws (invertir 400.000 euros), you must meet the following requirements for 2022:

• • • Justify to be in possession of at least € 643,250 if you are applying alone, ​​€ 655,170 if you are applying with your spouse and € 669,090 if you are applying with your spouse and one child.

According to the current immigration legislation of Andorra, in order to obtain a residence permit under the financially independent individual category, one must have the following funds:

1. 1. € 90,750 for a single applicant. From this amount, € 43,250 is equivalent to 300% to the minimum annual income in Andorra is used to cover living expenses while the remaining € 47,500 will be blocked in the bank account of the Ministry of Finance of Andorra (INAF) during your residency in Andorra; OR,
   2. € 114,670 if you are applying with your spouse. From this amount, € 43,250 (which is 300% of the minimum annual income) for the main applicant + € 14,420 (that is 100% of the minimum annual income for the spouse) and the remaining € 47,500 for the main applicant and € 9,500 for the spouse will be blocked (in total € 57,000) in the bank account of the Ministry of Finance of Andorra (INAF); OR,
   3. € 138,590 if you are applying with a spouse and one child. From this amount, € 43,250 for the main applicant + € 14,420 for the spouse + € 14,420 for a child to cover living expanses in Andorra. Additionally, the remaining amounts of € 47,500 for the main applicant + € 9,500 for the spouse + € 9,500 for the child (a total of € 66,500) will be blocked in the bank account of the Ministry of Finance of Andorra (INAF).
      It is important to note that the deposit amount bears no interest and will remain blocked by the Ministry until you renounce on your Andorran residency or become an Andorran citizen. These funds belong to you and will remain blocked on the account of the Ministry of Finance only for the period of residence in Andorra. The full amount will be returned to you after obtaining Andorran citizenship.
   4. Subscribe to an Andorran medical insurance;
   5. Justify a property in Andorra that may be confirmed by a rental agreement or ownership deed of a property in Andorra;
   6. Stay physically in Andorra at least 90 days per year in order to maintain and renew the residency permit.

ANDORRA: DOCUMENTS

All documents must be translated into Catalan or Spanish and legalized according to Andorra guidelines. All documents must be authenticated with an apostille by The Hague. Below is a list of required documents to apply for a passive residency permit in Andorra:

1. 1. Passport: must be valid at least 12 months before the application process.
   2. National identification card.
   3. Birth certificate.
   4. Family booklet, marriage certificate: issued within the last 3 months (if applicable).
   5. Obtained diploma(s) with the complete list of university records.
   6. Vaccination book for children under the age of 18 years old.
   7. Police certificate from your country of citizenship and/or of residence issued within the last 3 months.
   8. Documents confirming the source of income: bank certificate, dividends certificate, bank statement, work certificate, business registration documents…
   9. Tax assessment: at least for 5 last years.
   10. Bank certificate and bank statements from a bank in Andorra justifying you have sufficient resources (€ 43.250 for single application and € 14.420 for spouse and/or € 14.420 for each person in charge like child). This total amount isn’t blocked in the bank. You can spend this amount to cover your living expenses.
   11. Confirmation of an address in Andorra: rental or purchased property.
   12. Registration at “Comú de la Parroquia” in Andorra (“certificat de residència“).
   13. Once your application is approved, you will be asked to transfer the security deposit amount of € 47,500 for a single applicant and an additional € 9,500 for each accompanying family member to the Ministry of Finance of Andorra. If you become Andorran Citizen or decide to leave Andorra, the security deposit of € 47.500 and € 9.500 will be refunded. Please note you should not have any debts or monetary obligations in Andorra.
   14. During the 6 months following the granting of an Andorran residence permit, you will be required to invest real estate on the territory of Pricipauty d’Andorra or to make financial investments of €550,000, if you apply alone; €540,000 if you apply with your spouse; €530,000 if you apply with your spouse and child.

ANDORRA: PROCESS

Below is an overview of a generic process to follow under the immigration programme of passive residency in Andorra:

1. 1. 1. We recommend to begin with a comprehensive consultation with our experts. We will be able to answer all your questions concerning the specifics of the process and provide you with additional information on the conditions, requirements and analyse your profile.
      2. Our team will assist you in preparing and legalizing (apostille, authentification) all necessary documents based on your situation and the origin of the documents.
      3. Once your documents are prepared and legalized, our local translators may translate all documents into one of the officially accepted languages: Catalan, Spanish or French.
      4. We will assist you in opening a bank account in Andorra. Once the bank account is opened, you will be asked to transfer the minimum fund to support yourself during your stay in Andorra.
      5. We will also be able to help you to rent or acquire a property in Andorra based on your needs and criteria. In the case that you cannot travel to Andorra, we can represent you as a proxy and accomplish some steps on your behalf.
      6. We will help you choose and subscribe to an Andorran health insurance.
      7. Once your file is complete, we will book an appointment for you to apply for the residency permit at the Andorra immigration office.
      8. You will be asked to pass a medical exam.
      9. It may take up to 2 months to evaluate the application and issue a residency permit.
      10. Once your application is approved, you will be asked to transfer the deposit amount of € 47,500 for a single applicant and an additional € 9,500 for each accompanying family member to the Ministry of Finance of Andorra.
      11. After the approval by the Department of Immigration, you will receive a residence card that is valid for 2 years.
      12. You will then have 6 months to complete your investment in Andorra, € 550.000 for a single application, or € 540.000 with spouse, or € 530.000 with spouse and child or person in charge.
      13. We will assist you to register in the “Comú de la Parroquia” of your place of residence and obtain an official certificate confirming your residence. You may be asked to cover local tax payment fees.
      14. The first renewal of the residency permit in Andorra is valid for 2 years. The second renewal is valid for 3 years and finally the third renewal will be a permanent residency that is valid for 10 years.
      15. It is possible to apply for Andorran citizenship after living in the country for at least 20 years. If you have accomplished all your studies in Andorra, in this case, you may be eligible to apply for citizenship after 10 years. Considering Andorra does not recognize dual citizenship, you will be required to renounce on your previous citizenship if you become an Andorran citizen.

ANDORRA: REAL ESTATE INVESTMENT

Our team of professionals can assist in residential property investment for individuals wishing to make Andorra their home. The local knowledge of our real estate experts enables us to give the best advice on the property’s type, location and area according to the needs and the aspirations of each client. Our team offers significant help in the property evaluation and in the price negotiation. Therefore, we aim to protect the client’s interests when making real estate transactions in a new environment or in a different language.

As property acquisition abroad can be challenging, our collaborators guide each client in the various steps of property purchase. A visit of the property can be made in our presence to potentially request an evaluation of the property. If the client wants to make an offer on the property, our experts negotiate the price in order to obtain the best deal possible. If the negotiated price is accepted by our client, he will be asked to pay 10% of the property price to the notary as a first deposit. The property tax in Andorra is of 4% and if a loan is needed, we can assist the client in the proceeding and present the case at local banks in Andorra. The client can proceed with the finalization of the purchase act, during which we will be present to assist and guide.

CITIZENSHIP

There are three ways to become an Andorran citizen:

1. 1. Naturalisation: Andorran citizenship is granted if you have legally lived in Andorra for 20 years, or 10 years if you have completed your studies in Andorra.
   2. Descent: A child born in Andorra automatically obtains citizenship if their parents are residents.
   3. Marriage: You can apply for citizenship after 3 years of cohabitation in Andorra with an Andorran spouse.

At VIP Serveis Andorra, we are more than willing to guide you through the entire process of obtaining Andorran citizenship. Our standard procedure to apply with our clients is as follows:

1. 1. First, we will advise you on the immigration and citizenship process in Andorra.
   2. You will need to prepare and legalise all necessary documents.
   3. Our sworn translators will prepare the documentation in Catalan.
   4. We will submit your citizenship application to the local Andorran government agency.
   5. The decision on your status will be published in the Butlletí Oficial del Principat d’Andorra.
   6. You will be invited to a citizenship ceremony and receive your naturalisation certificate once you swear allegiance to the Principality.
   7. When you receive your naturalisation certificate, we can assist you in applying for a passport at the local office in Andorra la Vella.

OTHER INFORMATION

1. 1. To obtain Andorran citizenship, you must renounce all previous nationalities.
   2. Once the necessary requirements are met, you must submit the citizenship application and will be granted a provisional passport (not full citizenship). After that, you will have 5 years to renounce your current nationality.
   3. During that period, you must pass an exam on Andorran history, geography, and the Catalan language, to obtain full citizenship and the definitive passport.

ANDORRA: TESTIMONIALS

You can find below two testimonies for our clients who chose Andorra as a destination:

Testimonial 1
“We are a family of 4, and both my husband and I are over 50 and approaching retirement. We are really fond of the European lifestyle, and have visited Europe more times than we can count. We have basically touched every country, and found every single place absolutely fantastic. We were not exactly sure where we should go once we retire, but both of us wanted to go somewhere in Europe. So we started looking for agencies online, and found a few agencies that were okay. They responded to us and talked about their services, and frankly we had trouble keeping track of which one we had talked to, and which ones we had not. That was when I got in touch with Inimex, and they were different. The first person we talked to, David, was very friendly and focused mostly on answering questions we had, instead of pushing the sales. That really made a difference for me and we quickly decided to do this golden visa program with Inimex. They also explained to me everything in detail, even how to find an electrician in Andorra in case I ever need one. We managed to arrive in Andorra the moment we finished all the preparation of the documents from home. When we arrived, we applied for a passive residence. It took us less than a month to obtain it, and we got 2 years of residence right away. It turned out that Andorra, one of the few European countries we had overlooked, was the best. It has awesome roads and malls; everything is cheap because there is no tax; lots of good food from the region; easy to reach from France and Spain, and everyone was super friendly. My husband and I hike up one of those 2000 meters mountains whenever we get some time. The high Pyrenees have this special smell in the air that I just love. Inimex even helps us in case we need to travel to other places in Europe and helps us in buying almost everything. I would wholeheartedly recommend Inimex to everyone who wants to come to Andorra”.

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Testimonial 2
“I have a successful business, which makes me travel a lot. There are so many complicated issues when it comes to business trips in Europe, as visas and each countries’ legal issues even give my travel arranger headaches. I checked a few countries in Europe for me to immigrate to, but most of them have really big restrictions or lots of time commitment requirements. One exception is Andorra, which looks rather attractive, but still seemed very complicated to me. Inimex managed to explain to me in good detail and answered all my questions and concerns about moving to Andorra, so I was very happy to work with them.  They helped me at every single step and tried to let me care about my own business issues instead of immigration ones. Finally, after a few days, they told me I could come to Andorra now. They picked me up at Barcelona airport, took me all the way to the city, and helped me settle down. They helped me to acquire an apartment, open a bank account, prepare my application file, apply for residency, obtain a fiscal identification number, enrol to a health insurance, and everything else we needed. The local agent helped me every day for a week straight, telling me where to buy furniture, where to buy a car, how to move to my residence, and accompanied me to all governmental meetings. I am very grateful for Inimex’s help. To me, they feel like a strong family more than a company. I also really like Andorra, mostly because now I do not have to pay taxes everywhere and I can put all of my global income declared in Andorra, a true tax paradise. I also like the good weather, the clear sky, the developed cities and the lack of crime in Andorra. My Andorran permit allows me freedom of travel in Europe, which makes my business much easier to perform. Inimex still helps me from time to time, and I think they treat me more like a friend than a customer”.

OUR SERVICES IN ANDORRA

In Andorra, our company purpose full services or partial support or even if you desire, private consultation.

1. 1. Residence permit for financially independent (wealthy) applicants.
   2. Residence permit for entrepreneurs.
   3. Residence permit for representatives of sports, science or culture.
   4. Family reunification process.
   5. Opening a bank (private or business) account.
   6. Registration at public or private school.
   7. Rent / purchase of real estate.
   8. Exchange of a driver’s license for an Andorran one.
   9. Translation services.
   10. Extension of a residence permit.
   11. Permanent residence permit.
   12. Andorran citizenship.