On Thursday, 30 July, the Andorra Sotheby’s International Realty team was received by the head of the Andorran head of government: Mr. Antoni Martí.
Led by Narcís Socías and Rafael Socías, the whole Andorra Sotheby’s International Realty team spoke with Mr. Martí about the current state of the country’s real estate market, Andorra’s international profile as a unique destination for foreign investment and the prospects for the future of a country that is increasingly opening its doors and offering highly competitive opportunities.
Andorra Sotheby’s International Realty presented a distinctive plaque to thank Mr. Martí and his government team for their time, work and effort.
At the meeting, Mr. Martí stressed the positive figures from 2014, with 2.2% growth in GDP. And, backed by other economic indicators, he gave a firm forecast for growth in the Andorran economy, ensuring transparency and stability.
Among other things, he highlighted the firm steps taken by the Government of Andorra in all areas so that Andorran companies can enter top-level business circuits and the constant effort by his administration to consolidate Andorra as a highly attractive destination for foreign investors.
Living in Andorra
The tax advantages of the Principality of Andorra are already well-known at international level, but before looking at the figures, something important should be highlighted: the country’s greatest asset is its beauty.
Andorra is undoubtedly a well-kept secret amid mountains of the Spanish and French Pyrenees: its location is strategic. It is very difficult to find a country that perfectly combines unique high-mountain geography with the Mediterranean touches that make it an undisputedly attractive destination whatever the season.
In addition to its great beauty, optimum security, multicultural nature, services, transport and top-level European communications, Andorra offers unique advantages for those who want to establish a business or have their residence in Andorra for tax purposes. There is room for all lifestyles, including the highest and most demanding standards of living, in the Principality.
A small country full of big advantages: invest in Andorra
Taxes in Andorra | Andorra is one of the countries with the lowest corporation tax rates in Europe (and the world): 2-10% (depending on the type of business); and income tax rates of: 5-10% (depending on the type of business). VAT (value added tax or sales tax) stands at 4.5% (the lowest anywhere in Europe). In addition, there is no inheritance tax, and social security (CASS) contributions are among the lowest in Europe.
Tax conventions | The country is between France and Spain and double taxation conventions are in the process of being ratified by both countries.
Wide-ranging openness to foreign investment | Andorra has all the mechanisms needed both for foreign investment in Andorra to set up businesses and for establishing subsidiary offices in the Principality. The government has developed a series of mechanisms offering residence to managers and for developing or purchasing infrastructures, etc.
Standard of living and infrastructures | The Principality of Andorra has excellent health care services (recognised at European level); almost non-existent levels of insecurity; one of the highest life expectancies in the world (average 82 years); very low unemployment rates; an education system that copes with the multicultural nature of the country (the Andorran, French and Spanish educational systems coexist perfectly, as well as recognised private institutions with international prestige); telecommunications meeting international standards and top-class communication routes with the main European cities. To this is added the recent inauguration of commercial flights from La Seu d’Urgell Airport (barely 30 minutes from the centre of Andorra), reducing times and distances till further. Finally and no less importantly, Andorra’s income per head is among the highest in Europe.
For further information about living in Andorra, buying property in Andorra, selling houses and flats in Andorra and property management or moving to Andorra, don’t hesitate to contact Andorra Sotheby’s International Realty, your real estate agent in Andorra.
Andorra Sotheby’s International Realty: Av. Joan Martí, 102 – AD200 Encamp – Tel. + 376 872 222 – Fax: + 376 872 223 – firstname.lastname@example.org