Project description

Setting up your international business based in Andorra brings many advantages to you, but you also need to play by the rules. Andorra does not permit any offshore companies without proper substance in the country. This means you may own an Andorran company with 100% participation, but you must comply with local / OECD requirements such as having a physical office and an element of human resource on the ground (director OR employee with sufficient decision powers OR shareholder).

Solutions

Given this scenario of substance in the country we recommend having a director resident in the country. The immigrational law in Andorra offers a specific category for international business managers and directors through the active residency for company directors and entrepreneurs. This is typically the category or residency that international directors with a participation in the company will choose.

Setting up the company requires maximum transparency in terms of documentation provided on the activity, the shareholders behind the company and the origin of future business transactions. Complying with anti-money laundering rules is an absolute priority for the local banks and this may make the process time intensive if you decide to set up your company in Andorra as non-resident.

Our firm specializes in all these processes and we accompany you during the incorporation of your company in Andorra. The entire process may take over three months depending on your business activity and background as some activities are requiring more compliance work and or special approval by the local government authorities.

Project details

Do you operate a company that is doing business internationally?

Andorra may be suitable for your company’s operational base if you provide services over distance or trade goods as intermediary.

January 8, 2018 International business profile Company formation + residency Appreciate

Requirements for the setup of a company + active residency

 

For the Company Creation:

  • Present a business plan and forecast of estimated turnover
  • Provide criminal / police records from the country of birth / current residence for all shareholders with over 10% participation
  • 3000 EUR in capital for an SL / 60.000 EUR for an SA
  • Pass compliance process with local banks (provide tax declarations, origin of funds etc.)
  • Minimum two visits during the incorporation process (notary, bank introduction)

For the Active Residency through company creation:

  • Spend a minimum of 183 days per year in Andorra
  • Participate with a minimum of 21% of the shares in the company
  • Be actively part of the board / management of the company
  • Leave a deposit of 15.000 EUR with the Andorran government
  • Pay social security contributions of a minimum of 450 EUR per month
  • Maintain a salary sufficiently high to cover your living expenses
  • Have clean criminal / police records from your country of birth / current residence

Contact our team today for your personalized solution