Andorran SICAV
The SICAV (an acronym in French for société d’investissement à capital variable – Investment Company with Variable Capital) is an interesting investment entity for large assets due to its tax savings. They are supervised by the AFA, the Andorra Finance Authority. As for the information provided to the AFA as in the registration of companies, they enjoy confidentiality as the participating partners do not appear. In addition, SICAVs must go through audits and reporting to the regulatory body, and must only be registered with the custodian bank and its management company. Therefore, there is no public registry.
In Andorra there are 3 categories of this type of company such as investments in movable securities, real estate and free investment. The latter is open and allows the company to make investments in many types of assets.
The minimum capital required for a SICAV is 1,250,000 euros. If invested in real estate, the capital to be invested amounts to 6,000,000 euros. These investments are taxed at 0% both for corporation tax and for the distribution of dividends to Andorran partners.
Andorra does not require a minimum number of shareholders to establish a SICAV. The cost of creating and maintaining the company in Andorra is among the lowest in Europe, making it interesting for assets of more than 3,000,000 euros. Another important point is that the participation of an Andorran non-resident in a SICAV cannot exceed 50%, making it interesting for the interested party to relocate their residence to Andorra and take advantage of all the tax benefits for both the company and the individual.
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