Active residents required to leave a 30.000 EUR deposit
The Andorran government has released information to local press that an immigration law change is imminent. This change would affect all future active residents that apply for residence through the creation of a company in Andorra / working actively as director and participating with a minimum of 10% in the company. So far there was no deposit required, but the government of Andorra has announced there will be a deposit of 30.000 EUR required from now on. This deposit is similar to the 50.000 EUR deposit that passive residents need to leave as bond.
There is no confirmation yet as of when this new law will go into effect, but it is expected to go into force soon. Apparently many so-called autonomos have had low economic activity after creating a company which has caused concern among the immigration and government authorities. Autonomos pay over 440 EUR per month into social security which is among the highest flat rates in Europe. Nevertheless you should have a minimum economic activity with your company which has been used as filter in the past when it comes to renewing your residence permit.
We will provide information and advice for those interested in how this may affect their future residency project or current situation. Click here to contact us.