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Do you want to move to Andorra? Before moving to the Principality, you should know all the requirements for living in Andorra legally and avoid problems in the future. The Principality offers great advantages in taxation and different areas such as education and health.
To live in Andorra, it is necessary to have a residence permit. You should know that there are several types of residence permits, and each one confers rights and obligations, as well as requirements and documentation. Please note that you should check the requirements to live in Andorra depending on the type of permit you need.
Law 42/2022 of December 1 on the digital economy, entrepreneurship, and innovation was recently approved and ratified. In this regulation, modifications are made regarding immigration. The new provision increases the deposits required to process passive residency and for active residency and self-employment when incorporating a company.
Before telling you the requirements to live in Andorra, you must know the types of permits you can apply for. These permits are grouped, in turn, into two different categories: passive and active residences. The main difference between these permits is that one allows you to exercise a professional activity, and the other does not.
The active residence can be:
Passive residence permits can be:
Once the residence in Andorra is acquired, the person can formally live in the country. However, obtaining a residence permit does not mean acquiring tax residence for tax purposes in the Principality. However, it is essential to note that it is not possible to be taxed in two different countries, and it is necessary to respect the OECD criteria in this respect:
The active residence confers to the applicant the right to live in the Principality and work in it through professional or labor activity development. No matter what type of permit you want to apply for, the requirements to live in Andorra actively are:
In the case of people who want to live in Andorra and work on their own account, then it is necessary to pay the quota established by regulation and, of course, to exercise an activity on their own account. In the case of self-employment and foreign investment, a company must be incorporated in the Principality. When the company is incorporated, a deposit of 50,000 euros must be made without remuneration.
What about temporary residence? In this case, it is necessary to have a temporary contract with a legally constituted company or to have authorization to study, work, or to carry out training or sports practices of a high level. In addition, it is also necessary to provide services to an Andorran company.
With this residence permit, you can effectively live in the Principality without exercising. It can be obtained in three different ways. In general terms, the requirements to live in Andorra passively, it is necessary to fulfill the following requirements:
On the other hand, when you want to acquire a non-profit residency in Andorra, the applicant must show his commitment to the country and invest at least 600,000 euros in Andorran assets. What are the assets in which you can invest? These are some of the areas in which you can invest:
The requirements for living in Andorra are special for each case and can be complex. Therefore, your best option is to approach a professional such as MCA Assessors. We will provide you with all the information you need to settle in the Principality, and according to your particular situation, remember to inform yourself before applying for the Andorran residence permit! Then you will be able to choose the one that suits you best.