15.000 EUR deposit for active shareholder residents “compte propi” enters into force
Law 10/2018, 17 of May
After our previous article in October and from the past month the modifications to the residency for active shareholders (autonomos / compte propi) finally enter into force on the 14th of June 2018. There may be a potential transition period but this is unconfirmed.
As previously reported this change will affect all future active residents that apply for residency through the creation of a company in Andorra / working actively as director or board member. The following changes have been confirmed:
- You must be participating with more than 20% in the company rather than the current minimum of 10%. This essentially means a participation of minimum 21%.
- You must leave a bond / security deposit payment of 15.000 EUR to the government / the financial authority regulating body of INAF
- You must spend 183 days in Andorra as opposed to the previous “permanent and effective” residency definition.
Previously there was no deposit required, but there will be a bond of 15.000 EUR required from now on. This deposit is similar to the 50.000 EUR deposit that passive residents need to leave as bond.
Please read here for the full story and further information.
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