Andorra is a tax haven which attracts lots of people to move to the country. Salary
up to €24,000 is tax exempt and the highest rate of tax is 10%, which applies
to people earning €40,000 and over.
A resident permit is available for investors and entrepreneurs starting up a
business in Andorra.
A bond of €50,000 is required for a deposit when setting up a business.
There are two types of resident permits, a passive one (investment program) or
an active one (work permit).
It is possible to invest in an Andorran company or to invest at least €350,000
in property. Passive residents are required to reside in Andorra for a minimum of
90 days per year. If you reside in the country for over 183 days, you will be
liable to pay taxes.
Andorra is a beautiful, mountainous country with much lower rent and cost of living
is cheaper than places such as London or Madrid, making it a top destination for
digital nomads, investors and entrepreneurs.