Our team provides assistance to clients and their families in the process of moving to Andorra and obtaining residency permits. We ensure professional guidance and support in the process of preparing the necessary documents and application submission.
Advantages of Residence Permit in Andorra
Visa-Free to France and Spain
Although not a member of the European Union, Andorra is nestled between France and Spain, offering visa-free access to both countries.
No Exchange of Banking Information
Andorra excels in maintaining the confidentiality of its residents' data compared to other European jurisdictions. Local banks refrain from disclosing foreign investors' account details to tax authorities of other countries.
Getting Visas to the Schengen Area, the USA, and Canada
A Schengen visa is processed in one day, while visas for other countries typically take several days to be issued.
High Quality of Life
Andorra offers a high standard of living with excellent healthcare, education, and public services. The country is known for its clean environment, low crime rate, and high life expectancy.
Tax residents are not subject to wealth and inheritance taxes, and the rate for dividends, capital gains, and profits is merely 10%. Additionally, holdings are exempt from taxation on inheritance, wealth, profits, and dividends.
Political and Social Stability
Andorra is a politically stable country with a low crime rate, making it a safe and peaceful place to live. The social environment is welcoming, with a blend of Catalan, Spanish, French, and Portuguese influences.
About the Residence Permit in Andorra by Investment
In the heart of the Pyrenees lies Andorra, a small yet prosperous country renowned for its stunning landscapes and favorable tax regime. The Andorran residence permit is an attractive option for investors worldwide, offering a gateway to this peaceful European haven. This permit not only allows you to reside in Andorra but also to partake in its low-taxation benefits and high-quality lifestyle.
Requirements for Residence Permit Applicants
To be eligible for an Andorran residence permit via investment, applicants must:
Be over 18 years of age.
Have accommodation in Andorra.
Retain the investment for at least five years.
Possess global health insurance coverage.
Have a clean criminal record from their country of origin or residence.
Demonstrate a legal monthly income of no less than €3,250.
Reside in Andorra for a minimum of 90 days per year.
Additional eligibility for family members includes:
Spouse or permanent partner.
Children under 18, including those from a previous marriage.
Children between 18 and 25 years old who are students, unmarried, and financially reliant on the applicant.
To secure a residence permit in Andorra, an investor is required to make deposits totalling €400,000 or above:
€350,000 of this amount is allocated towards investments in real estate, bonds, businesses, or investment funds.
The remaining €50,000 is transferred to an insurance deposit as evidence of solvency.
Should family members accompany the primary applicant to Andorra, an additional deposit of €10,000 is needed for each family member. Consequently, the principal investment amount will be adjusted downward.
Timeframe for Processing
The standard processing time for a residency permit application in Andorra ranges from 2 to 3 months. It depends on both the speed at which the client provides the necessary documents and the current workload of the immigration services at the time of application submission.
Step-by-Step Procedure for Obtaining an Andorra Residence Permit
Preliminary Check: Our firm stands out as the sole agency in the field featuring an internal compliance division. This pre-screening process minimizes our clients' rejection risk to a mere 1%. An anti-money laundering compliance officer rigorously reviews the documents to assess eligibility for the Andorra residence permit. If any issues arise, our legal team will suggest appropriate remedies. This process is entirely private and is completed within just one business day. The only requirement for the applicant is to provide a passport.
Document Preparation: Our legal team compiles detailed lists of personal and financial documents required for enrollment in the program. These encompass account opening forms for Andorran banks, corporate papers for business proprietors, tax filings, and evidence of a permanent address in Andorra. To initiate an account with an Andorran bank, compliance procedures must be followed, demonstrating the lawful acquisition of all funds. Subsequently, the bank assists in preparing additional paperwork and choosing investment options.
Application Submission: Applications must be submitted personally in Andorra. The process spans two days: the first for application submission and the second for an interview. Processing the application takes between 3 to 8 weeks, in which period the investor and their family will be subject to Due Diligence. We will review all documents beforehand and alert you to any potential risks.
Medical Examinations and Financial Transfers: It's advisable to allocate around four days for the health check. On the initial day, you'll undergo a standard physical examination and receive a Mantoux test. Three days later, they will assess the test reaction. Concurrently, you should arrange for the transfer of the deposit to INAF.
Obtaining Residence Permit: The residence permit is granted to the investor, their spouse, children under 18, and children who are students. It's feasible to acquire this permit via a representative without the need to visit the country personally.
Fulfillment of the Investment Condition: Investments should be completed within a six-month period following the acquisition of a residence permit.
Dual Citizenship in Andorra
Dual citizenship is not permitted in Andorra. Those seeking Andorran citizenship must renounce their existing nationality, as the country maintains a strict policy to preserve its cultural integrity.
Frequently Asked Questions
What is the Minimum Investment Required for an Andorra Residence Permit by Investment?
To qualify for an Andorra residence permit through investment, an individual must invest a minimum of €400,000. This can include real estate purchases, investments in government bonds, investments in local businesses, or contributions to investment funds.