Are you thinking about move to Andorra, but don’t know where to start? You may have many questions about the process to establish yourself in the Principality. Although you can do it on your own, it would result in a series of very cumbersome bureaucratic procedures that may not turn out well for you. Therefore, it is best to approach a consultancy in Andorra, like MCA Assessors.
Meet MCA Assessors your consultancy in Andorra par excellence
Living in a country other than your own, legally, involves a series of bureaucratic procedures that can be very cumbersome and complicated. There are too many procedures that you have to do and in different governmental institutions. It all depends, however, on what you are looking for by moving to the Principality. You may want to settle there permanently, you may want to obtain tax residency, open your own business, and so on.
And since the procedures are considerable, it is best to put yourself in the hands of the experts. To do this, look for a consulting firm in Andorra, specialized in immigration procedures, but that can also advise you on everything related to Andorran taxation. And, precisely, the issue of taxation is one of the main attractions of Andorra. Many Spaniards make the Principality their residence due to the low taxes they pay, compared to Spain.
That is why digital nomads, content creators and workers in the technological branch, settle in this small Principality. We tell you what some of your advisory services in Andorra are: MCA Assessors.
Legal residence in the Principality
When it comes to living in this country, you should know that residence permits in Andorra are very controlled and regulated. Every year, the State is in charge of publishing how many people can settle in the Principality and take advantage of the different existing residence modalities. On the other hand, the State is also responsible for regulating work permits, establishing the permitted sectors and salary classifications, according to the labor market.
From your consultancy in Andorra, MCA Assessors, we help you process and obtain the residence permit that suits your needs, as well as the green residence card . The Andorran residence can be:
- Passive or without paid employment. They are those who want to settle in the Principality, but without working or who want to benefit from Andorran tax residence. Some requirements are to live a minimum of 90 days in the country, own or rent property, have health insurance, and prove an income greater than 300% of the minimum wage. It will also be necessary to make a deposit of 47,500 euros to Financial Authority and invest 600,000 euros in the Principality.
- Active tax residence. This is granted to people who work in Andorra either through the constitution of a company or with an employment contract for a company in the Principality.
On the other hand, from your advice in Andorra, we also help you with the procedures for the Digital Nomad visa. And, in 2021, Andorra announced a digital visa program with the aim of attracting digital nomads to the country. This visa allows teleworkers to live and work in the Principality for up to one year.
Advice in Andorra to establish a company
As you have seen, in order tomove to the Principality and depending on the type of residence you choose, you will probably need toestablish a company. And, in 2012, Andorra approved a law that allows foreigners to own 100% of the shares of a company in the country. It allows any person or entity to establish a business in Andorra for any purpose.
That is, if you want to establish yourself in the Principality, establishing your own Society, you must follow and meet a series of requirements. But we advise you not to do it on your own, but rather to go to a consultancy in Andorra to be able to do it. The first thing to keep in mind is to know what type of company you want to register and the requirements you must meet. Of course, if you are a foreigner, you must also comply with a process, but at MCA Assessors, we provide you with all the necessary advice to make your company a success.
In the Principality you can register the following types of companies:
- Limited Company (SL).
- Unipersonal Limited Company (SLU).
- Sociedad Anónima (SA).
- Unipersonal Joint Stock Company (SAU).
The SL and SLU are perfect for small businesses and follow a structure similar to the Limited Liability Company. In the case of the SLU, it has a single shareholder. These companies must have a minimum share capital of 3,000 euros. On the other hand, the start-up costs amount to approximately 2,000 euros and they must pay an annual tax of 850 euros.
For their part, SA and SAU are the best option for larger companies with multiple shareholders. The capital to be contributed is 60,000 euros and can be sole proprietorship or have several members. To start this company you must have approximately 2,000 euros; while taxes amount to 950 euros per year.
Taxes and accounting in the consultancy in Andorra
Finally, although Andorra is considered a perfect country due to its low taxation, it is essential that accounting and taxation are carried out strictly. Therefore, there is nothing like letting yourself be guided by expert hands and going to a consultancy in Andorra, like MCA Assessors. According to Andorran legislation, you can leave the accounting and taxation to an agency that is in charge of keeping all the accounts.
Do not lose sight of the fact that taxation and accounting are different things, but they are characterized by being very meticulous. If you want to avoid a possible fine, it is best to go to a consultancy in Andorra to take care of these procedures.
