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| TAX-FREE RESIDENCE IN ANDORRA |
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There are two ways to obtain residence in Andorra:
1. Residence with a Work Permit
or
2. Passive Residence Permit.
Work permits are, in principle, restricted to nationals of the European Community and E.F.T.A., but are issued only to those working for an Andorran person or company. Self-employment for foreigners is not permitted and, in general, work permits are difficult to obtain since the employer must also show that a suitably-qualified person already residing in Andorra cannot be found for the position. Should you be wishing to form a company in Andorra and employ yourself and others, it might be possible for you to get a residence permit by this method. For full and further details, please consult our Help Sheet on 'Work Permits'.
The main demand for residence permits comes from those who do not wish to work or who are retired.
In November 1996, a law called the 'Law on Passive Residence Permits' was approved by the Andorran Parliament, the Council-General. This law allows for a quota of 200 new residence permits per year. Entry is by family unit. Single persons are regarded as a family unit. Andorra does not require its residents to pay any personal taxes whatsoever, but new passive residents must put up a deposit of 30.000 &euros; for the first permit in the family, and 7.000 &euros; per extra adult or child. These deposits do not earn interest, but are returnable on giving up the permit. New residents must be able to show that they have no criminal record and can support themselves adequately from their investments or pensions without the need to seek employment.
Passive residents may rent or buy their home.
There is no apparent discrimination in terms of nationality, age, sex, religion or political affiliation. Applicants must pass a medical test to check for any undesirable conditions and must have private health insurance, a pension entitlement and give evidence that they have an income of at least three times the national minimum wage or, currently, 33.000 &euros; p.a. plus 11.000 &euros; p.a per additional dependent.
For further details on 'Passive Residence Permits', please visit our Information Services page.
SERVISSIM processes more applications for Residence Permits than any other services organisation.
Our advice and assistance is keenly appreciated by all of our Private Clients.
Details of all our advice and assistance services can be found in Information Services. |
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