The reason for the resettlement in the principality of Andorra may be the complete absence of a tax system there. Direct taxes are not levied and never levied. Profit from enterprises, inheritance, personal income and other objects of taxation that exist in other states are not taxed. “Tax” as a word is not used here at all.
What Is Andorra Golden Visa Residency By Investment Program?
To obtain citizenship in Andorra and at the same time to exercise the right to operate without hindrance in a favorable environment, that is, in the absence of taxation, is possible only under certain conditions. This right is given to a foreigner who marries a subject of the principality if the wife becomes the sole heir to the family. It is easier to get citizenship to a foreign citizen if she marries a native resident of the principality. In this case, she receives citizenship automatically. Children of foreigners born in Andorra are given citizenship if they live in the principality permanently with their parents. This becomes possible only when they are eighteen years old. There is simply no other way to get official citizenship.
Persons who have a source of existence on the territory of another country or sufficient capital accumulated or received outside of Andorra have the opportunity to obtain a residence permit.
For sale in Andorra put up a significant number of properties. These are mainly new apartments and houses. In the capital, La Vela, the country’s main commercial center is located. The most attractive for buying real estate are the cities of La Massana, Canillo, and Ordino. In the city of Canillo sold new apartments. The city is surrounded by picturesque mountains. Offered for sale apartments are located near the ski resorts. The territory on which the cities of La Massana and Ordino are located is flat and more open. In addition to apartments, you can buy houses, villas, and chalets.
To invest in real estate Andorra – the most profitable place in Europe. This is mainly due to the stability of the principality and the constant increase in real estate prices. Andorra as a tax-free state attracts a large number of residents who want to save money with minor payments to the needs of the parish. Learn more here https://offshorecitizen.net/residency-and-passports/andorra-golden-visa-by-investment-program/.
Prices of objects sold depend on the category of housing and the picturesque nature of the surrounding nature. They are located in a very wide range.
Foreign citizens will not be able to do business in Andorra. But if they want to get a cozy and comfortable shelter, they will get it here.
Acquisition of real estate in Andorra
The national currency of Andorra is a diner. Issued as a commemorative coin in a single form. She is pleased to collectors.
Small fees are taken when changing the legal address of the organization or company, the name of the company, for issuing various permits. In the seven administrative parishes of Andorra, fees are assigned independently, mainly for road maintenance and utility bills. Minor tax is levied on real estate. It is calculated equally for all, regardless of their income level. All of these payments are not burdensome for citizens since their amounts are insignificant.
Banks of Andorra are popular among the permanent residents and guests of the principality, who can use their services without restriction. This does not apply to citizens living in Spain and France. Banks are famous for their reliability and confidentiality, the possibility of opening secret accounts.
Bankers who care about their reputation may require a recommendation from a client with a large amount of cash. They can be obtained from local advisory companies or commercial structures that have partners in the principality.
Since taxes in Andorra do not exist, evasion from their payment is not considered a crime. A client opening an account in a bank can be sure that he is guaranteed bank secrecy. The banks of Andorra will not assist the court even if there is a decision to recover a certain amount of money in favor of the plaintiff. Following the bank secrecy guarantee, the bank will not give information regarding the customer’s account.
The Catalan language, which is rarely used in colloquial speech, is used to formalize decisions of shareholders meetings, internal documents and reports. Foreign nationals do not have the right to own more than 33% of the capital in Andorran companies. This right is granted only to persons residing in the country for more than twenty years.
A foreign citizen in Andorra cannot become the head of the company. An exception is possible only in cases where it is in the interests of the state and society. In the history of the principality, there are no cases of application of this provision.