If you are thinking about move to the Principality, one of your options may be passive residence in Andorra. This procedure, however, is somewhat complex, so the best alternative is to put yourself in the hands of experts, such as those at MCA Assessors. In the following article we tell you everything you need to know to be able to obtain this residence permit.
What is passive residence in Andorra?
Passive residence in Andorra is also known as non-profit residence. It is a type of permit designed for those who want to live in the Principalitywithout working for others. It is one of the best ways to obtain legal residence without having a work contract. In addition, it is aimed at those people who have sufficient income derived from property rentals, bank interest, funds, pensions or any other type of income.
Passive or non-lucrative residence in Andorra offers great advantages to people who do not want to stay in the country for a long time. That is, those who want to live between the Principality and another country. And one of its requirements is precisely to stay only 90 days a year in Andorran territory, instead of the 183 that a self-employed residence permit requires. This is how you can travel almost all year round.
Requirements to obtain passive residence in Andorra
The following people can apply for this residence permit:
- Investors who have business in the Principality.
- People who have reasons of cultural, sporting or scientific interest.
- Entrepreneurs and professionals who have international projects.
The requirements to be able to apply for passive residence in Andorra are very specific if you are an investor. Take note, because it is very important to be able to comply with all of them if you want to apply for this residence permit:
- Have a property in Andorran territory or have entered into a rental contract.
- Invest in a property that has a value of 600,000 euros. If you do not want to invest, then this same sum must be paid to the Andorran bank fund. It is also possible to invest in the Housing Fund of the Andorran government and, in that case, the amount is reduced to 400,000 euros.
- Reside in Andorran territory for at least 90 days a year.
- Have a certificate of good conduct.
- Contract private medical insurance.
- Have a medical certificate issued in Andorra.
- Make a deposit of more than 47,500 euros. If you have dependents, then a deposit of 9,500 euros must be made for each of these people. The deposit is made before the Andorra Financial Authority, until the passive residence is resolved.
- Have proof of income of more than 300% of the country’s minimum wage. And 100% extra for each person in charge.
Passive residence in Andorra for scientific, sporting and cultural interests
Passive residence in Andorra for people who have cultural, sporting and scientific interests in the Principality, is aimed at those who can prove their activity with awards, titles , etc. It must be renewed after the first year and, in the future, it is renewed every three years. In these cases, it is necessary to provide certain documentation to start the process:
- Passport.
- Certificate of civil status.
- Lease contract or deed of a property, if you have purchased one in the Principality.
- Proof of cultural, sporting or scientific qualities.
- Demonstrate that you have more than 300% of the minimum wage in force in the Principality. If you have dependents, then you must give 100% more for each of these dependents.
- Certificate of good conduct.
- Certificate issued by a doctor in Andorra.
- If applicable, then a disability pension , retirement or pension insurance must be presented.
- Deposit more than 47,500 euros, as well as 9,500 euros for each dependent person in the AFA or Financial Authority of Andorra. This, while passive residence is resolved.
Passive residence for professionals, businessmen and pensioners
Professionals and businessmen with international projects, as well as pensioners, can also apply for this residence permit. It is aimed at people who want to open a company in the Principality and project their services internationally. In this case, the requirements are the following:
- Sign a lease contract or make the purchase of a property in Andorra.
- Justify sufficient income.
- Remain in Andorran territory at least 90 days a year.
- Generate 85% of income abroad.
- Have the company’s main headquarters in the Principality.
- Credit a business plan to develop.
- Justify the pension for retirement, disability or benefit insurance, if necessary.
- Deposit more than 47,500 euros, as well as 9,500 euros per dependent, with the Andorran Financial Authority, until the resolution of passive residence in Andorra is obtained.
The passive residence permit in Andorra, in the latter case, is valid for two years. It can then be renewed for two more years and extended for another three years. After seven years, the next renewal will be for 10 years consecutively.
