Tips + Tricks to Operate from Andorra
Since the year 2000 Andorra has been attracting many tourists due to the low tax corporation policies. Nowadays, the main legal corporations offer international advisory solutions and services to clients that would like to operate a business from the country.
Many firms have been targeting and auditing international customers from all borders, towards residency permits, to offer them an attractive alternative apart from the European Union living tax rates. With the help of new technological consulting firms the country has been able to attract a high quality consumer that is looking for a safe and high standard country.
¿ Why is Andorra the perfect place to open a business?
Are you looking for a country that offers Low Tax Rates to open your new business?
International residents come every year to Andorra looking for a safe and high quality living country. Some of them are celebrities and they need an environment that allows them to relax and live without the pressure of social media.
Andorra has a very safe environment and many corporations offer private services for exclusive residents, to make them feel like home during all their residency process. The government is helping private investors to digitalise business of that would like to compete in an international environment.
Low taxation : taxes maximum totals paid in Andorra never usually reach 10% of the rent, regardless of their type and origin.
With a 100% fiber optic coverage : and mobile 98%, and a future habilitation of two airports and a heliport close to the ski station.
Located in the Pyrenees : between France and Spain, Andorra is close to all of Europe, and especially close to Barcelona.
Tips + Tricks to Operate from Andorra
When a new resident comes to the country Andorra offers many benefits. When opening a business you need to consider creating:
- The “Societat Anonima” (SA), it is like a Public Limited Company model with a minimum capital invested of €60,000. This capital will be divided into shares specified in the company’s Articles of Association. All the operations have to be registered by a notary.
- The “Societat Limitada” (SL), similar to Limited Liability Companies (LLC) -or Single-Member Companies if there is only one associate- are adapted to smaller businesses. LLCs are limited to 10 shareholders who have the priority to buy shares in the case of a capital increase or a transfer of shares to third parties. An initial €3,000 input is required.
Application For The Approval
Once the name of your company has been approved, you must apply for an authorization from the Government to incorporate the company. You will need to provide the following documents :
- the approval for a new corporate name
- The draft company Articles of Association
- business plan, expected financial results
- Passport from all business associates
- Andorran bank certificate, min. capital
- Every member criminal records
In order to create a company in Andorra, you must have a clean criminal record.
In order to create a company you must posses an Andorran bank with a minimum capital.
