Setting up a Business in the Principality of Andorra: Opportunities and Benefits
The Principality of Andorra, the great little country in the Pyrenees, has become an appealing destination for foreign investment thanks to its business-friendly environment and its recent reform of the foreign investment law. On this page, we will discuss the advantages of setting up a business in Andorra, the strategic economic sectors, hoe the law for foreign has been updated, and the aid available from the public bodies that support the country's economic development.
Índex de continguts
- Setting up a Business in the Principality of Andorra: Opportunities and Benefits
- Advantages of setting up a business in Andorra
- Strategic Economic Sectors in Andorra
- Reform of the Foreign Investment Law
- Andorra Business: Grants and financial aids
- Requirements to set up a business in Andorra
- Contact and Enquiry
- Conclusion
- Additional Resources
Advantages of setting up a business in Andorra
- Tax benefits for foreign companies: Andorra offers an attractive tax system with low corporate taxes and a favourable double taxation system. Foreign companies enjoy a flat tax rate of 10% on their profits.
- Political and economic stability: Andorra is known for its political and economic stability, which provides a secure environment for investments. In addition, the country is part of the Euro Zone and uses the common European currency.
- Strategic location in Europe: Andorra is geographically located in the heart of Europe which makes it a privileged place for accessing the European markets. Its proximity to Spain and France facilitates the international trade.
Strategic Economic Sectors in Andorra
Andorra has made efforts to diversify its economy into sectors beyond tourism and the retail trade. The key strategic, and economic sectors for diversification and competitiveness include:
- Technology and Startups: Andorra has invested in technological development and fosters the creation of startups in sectors such as financial technology and biotechnology.
- Sustainable Tourism: Tourism remains an important sector, with a growing focus on sustainable and high-class tourism.
- Renewable Energy: Andorra is developing renewable energy projects to reduce its reliance on fossil fuels and enhance sustainability.
Reform of the Foreign Investment Law
The recent reform of Andorra's foreign investment law has simplified the investment process. The main modifications include:
- Elimination of restrictions: Foreign ownership restrictions have been removed, making it easier for foreign businesses to invest.
- Simplified process: The process of registering and starting a business has been simplified, which accelerates the creation of businesses.
Andorra Business: Grants and financial aids
Andorra Business is the main body providing that supports’ investments in the country. It offers a variety of grants and financial aids, which may include:
- Grants to create jobs: Financial support for companies that generate employment in Andorra and grants of up to €6,000 for innovation, internationalisation and business improvement.
- Investment aid: Economic incentives for strategic investment projects in the key sectors.
Requirements to set up a business in Andorra
Setting up a business in Andorra involves following specific processes which include:
- Required documentation: All necessary documents, such as the company's constitution and business plan.
- Administrative procedures: A series of formal procedures to be followed, such as applying for a Tax Identification Number (NIF). The above mentioned can be manage through our agile, effective and decentralised services such as, the use of technologies like the SingBook, data protection, and the iCloud service.
Contact and Enquiry
For more information on how to set up a business in Andorra and take advantage of the existent opportunities, please do not hesitate to contact us.
Conclusion
Andorra offers a unique business environment with tax benefits, stability and opportunities in key sectors. Its recently reformed foreign investment law, and the Andorra Business grants, make this the perfect moment to invest in this beautiful country of the Pyrenees. We look forward to helping you in, make it happen!
Additional Resources
Please find attached some links to relevant documents, forms and additional resources to facilitate the investment process. We also invite you to visit the Andorra Business website in order to obtain detailed information, about the available grants.
Request a FREE registration in our private area and get a personal space in our iCloud to receive extra resources: a private online space, important documents, additional resources and forms to facilitate you the process of setting up your new business in the Principality of Andorra.
At Integral Serveis 21, we offer support from the initial business idea to creating and growing your business venture.
- Processing foreign direct investment permits (for non-residents)
- Applying to reserve the company name
- Drawing up the articles of association
- Incorporation, modification, dissolution and liquidation of the company
- Drawing up the company minute book
- Appointment of officers, capital increases, powers of attorney, change of registered office, etc.
- Opening a business
- Applying to open a business
- Obtaining the Tax Registration Number ( NRT )
- Registering with the Social Security System
At Integral Serveis 21 we also meet day-to-day operational requirements.
- Helping to find premises or the registered office
- Management and control of official and commercial correspondence. Immediate email notification
- Procedures with relevant bodies/ institutions
- Processing changes in vehicle registration
- Assistance with customs formalities
- Procedures with FEDA (electricity company), Andorra Telecom, etc.
- Help finding staff
What do we offer you?
IS21 Integral Serveis Setting up a business
We offer support from the initial business idea to creating and growing your business venture.
IS21 Integral Serveis Invest in Andorra? At IS21 we make it possible!
We offer you the advice you need to get the maximum return on your capital and enjoy all the benefits offered by the Andorran tax model. Real estate investments, bank assets or through a company, at IS21 we will offer you personalized support to materialize your investment projects, with 100% foreign capital, in an agile, comfortable and safe way.
IS21 Integral Serveis Experts in the processing of tax residences in Andorra
At IS21 we specialize in processing the residence permit (passive or active) that is needed to become a tax resident in Andorra and enjoy all the benefits that the country in the Pyrenees offers. We offer tailor-made solutions for entrepreneurs, retirees, elite athletes and liberal professionals.
IS21 Integral Serveis Support service: fiscal & accounting management
At IS21 you will find the comprehensive support you need to start a new life in the Principality and benefit from the fiscal and economic model offered by the country in the Pyrenees. We are a company aimed at companies and investors, both Andorran and foreign. We will accompany you throughout the process of setting up and integrating your company in Andorra, providing you with different design and optimization services for your corporate structure.
