Andorra – an attractive location for retired executives
For the past years, relocating to Andorra has turned into a growing trend. Among other enticing reasons, the tax friendly policy of the principality has also contributed its share to attracting more and more retired executives. Not only does the country offer wonderful mountain views, many activities in nature, safety and a long life expectancy, but it also presents its retirees with an attractive fiscal framework and an interesting location right in the middle of Europe.
Benefits of retirement in Andorra
Located in between the Pyrenees Mountains, Andorra shares borders with neighboring Spain and France. This location makes the country particularly interesting for retired executives enjoying the calm and quiet of a country encircled by nature. In addition, residents also benefit from the possibility to travel easily at the same time. Beautiful beaches and important cities like Barcelona and Toulouse are only a short drive away from the Andorran capital.
Furthermore, a good and reliable health care system offers retired expats any medical attention they might require in the future. Not to mention the low cost of living they will also benefit from upon relocating to Andorra. Property prices compared to other European destinations are quite low and the general cost of living ranks within the cheapest on the continent.
Moreover, Andorra’s mild summers, with temperatures below 32 degrees and snowy winters with pleasant skiing conditions, make the Principality a delightful place of living all year round. A steady economic condition also ensures safety and satisfaction within the population of the small country. It is also worth mentioning that commuting provides a stress-free life for residents, due to little traffic and many scarcely driven roads.
Most importantly however, a Double Taxation Agreement will allow many new residents to receive their foreign pension while only paying personal income taxes in Andorra. This regulation also applies, should the former employer provide a social welfare plan to supplement the retired executives’ Social Security pension.
An experienced consultant must previously look into your pension plan and income in order to determine your eligibility to benefit from these laws. This adviser will also inform you about any other relevant legal matters when considering relocation to Andorra. If you want to relocate to Andorra and enjoy the country’s retirement benefits, please do not hesitate to contact us.