Residence permit in Andorra for investment

Requirements for Investors

• No criminal record.
• Pass a medical examination and have health insurance.
• Prove that there is a sufficient level of income. The investor's income should be at least 3 times higher than the average level in the country, and his family members should have at least the average. The established average income of Andorrans is about €1,286 per month.
• Have an official address in Andorra (property owned or leased).

Documents

1. Passport or ID.
2. Certificate of no criminal record from each country of residence for the past 10 years.
3. A photo of 35x45 mm.
4. A rental agreement or agreement of intent to purchase, a copy.
5. An extract from the Civil Registry office about your marital status (duplicative certificate).
6. An insurance policy issued by a local insurance company.
7. A bank certificate confirming the required level of income.
8. A copy of the passport: the first page and the page with registration for the last 5 years.
9. A list of places of employment with the position, name and address of companies for the past 5 years. This can be a work record or letters of recommendation from your workplace.
10. Statutory documents of companies owned by the applicant (more than 25% of shares) or controlled by him (if he is an official representative in them).
11. Tax returns for the last five years, copies.

For children

1. Original foreign passports.
2. Birth certificates. You must request a duplicative certificate since the migration service takes it away.
3. Vaccination certificates. The child must be vaccinated by age in accordance with international standards (vaccination calendar).
4. The certificate from the school indicating the calendar and academic years, for example, first grade - 2016-2017.
5. Medical certificates from the therapist about the general state of health.

The certificates are valid for 3 months. All foreign-language documents must be translated into Spanish or Catalan by an official translator with an apostille. If the translation is legalized at the Spanish Consulate or at a local authorized translator in Andorra, apostille is not required.

Rights and Obligations

• The owner of a passive residence has the right to live in Andorra all year round, but they must spend 90 days a year in the country. In practice, it is extremely difficult to check exactly how long a foreigner was in Andorra, because there is no border control with neighboring countries.
• Obtaining this status does not automatically change your tax residence, if you spend less than 183 days a year in the country. At the same time, you can declare the center of vital interests in Andorra and use the local tax regime. There is no tax on wealth, capital gains, dividends, inheritance; the income tax rate is 10%.
• Holders of a passive residence permit in Andorra do not have the right for hired labor. However, it is possible to receive passive income, for example, from real estate rentals or dividends from business activities.
• Andorra has no airports or access to the sea. You can only enter the country from the territory of France or Spain. Therefore, although the Principality is not a member of the Schengen area and the European Union, its residents are facilitated to move around Europe. You can visit France, Spain and Portugal without visa.
• The investment residence permit is renewable: it can be extended an unlimited number of times, as long as the basis is preserved. In 17 years after receiving the first permit, you can request citizenship by naturalization, but you will have to give up your first passport.