The current legal framework on immigration implements what until a few years ago was known as passive residence. This residence status does not include a work permit or allow the development of economic activities within the country.
However, these permits are very attractive due to the need to remain in the Principality for only 90 days, and may even lead to tax residence in case of proper planning based on OECD criteria.
This type of residence is ideal for international business-owners who invoice their services only outside the Principality and for people who seek to obtain passive returns through their assets. This residence status is granted to persons who make an investment of €350,000 in the country, in addition to a deposit of €50,000 with the Andorran Financial Authority.
Non-profit residence is principally aimed at people who have assets or businesses at an international level and who decide to become residents in Andorra only to live, while maintaining the possibility of managing their assets and businesses.
We set out below the common requirements for access to this type of residence
- Recoverable and non-remunerated deposit of €50,000 by the holder with the AFA;
- Deposit of €10,000 with the AFA for each dependant;
- Having sufficient financial means for the holder and his dependants to remain in Andorra;
- Buying or renting a property in Andorra;
- Medical, disability and old-age insurance with coverage for Andorra; *
- Minimum residence: 90 days a year.
* Minors and over 65s: medical insurance only.
Individual Terms and Conditions
- Investment in Andorran assets of €400,000 minus the amount of the above-mentioned deposit.
- Real estate located in the territory of the Principality.
- Holdings in the share capital or equity of companies resident in the Principality.
- Debt or financial instruments issued by entities resident in the Principality.
- The non-remunerated deposits with the AFA are deducted from this amount.