Residency in the Principality of Andorra
There are several options that this country offers to foreigners who decide to settle in Andorra.
In Andorra there are two different types of residence and you can choose one or the other, depending on the type of activity to be carried out. This makes it possible to distinguish between:
Active residence (employed or self-employed)
With development of a work / professional activity (for employees or entrepreneurs).
Non-profit residence (formerly called passive residence)
Non-profit residence or also called passive residence.
Non-profit or non-profit residence (also called ‘passive residence’)
There are several types of passive residence:
1. Basic, intended for residents who do not carry out any work or professional activity
2. Professionals with international projection (carry out at least 85% of their professional activity outside Andorra)
3. Residence for reasons of scientific, cultural and sports interests.
4. Residence for admission to private geriatric centers or a private medical or therapeutic care center, without exercising any work or professional activity.
Focusing on the one intended for residents who do not carry out any work or professional activity, we find that it is intended for non-Andorran citizens and their family, who establish their residence in the country (minimum 90 days a year) and do not carry out any professional or professional activity or work.
To be taken into account:
The professional must establish his main and effective residence in Andorra for at least 90 days per calendar year.
A minimum investment in the country of 400,000 Euros must be maintained.
There is a statutorily established quota (limited number of annual concessions), although it is not currently being covered.
With the start of all the procedures through the delivery of all the necessary documentation, the period of granting residence is around 2 months.
The main requirements to be met would be the following:
Establish your main and effective residence in Andorra for at least 90 days per calendar year without exercising any work or professional activity.
The main holder must cash and deposit in the Andorran Institute of Finance (INAF), currently called the Andorra Finance Authority (AFA), the amount of 50,000 unpaid euros.
You must also deposit the amount of 10,000 euros unpaid for each of your dependents. The remaining amount of 350,000 euros must be invested in the country, or kept in a current account or in real estate or securities in Andorra.
These amounts are recoverable deposits upon ceasing to be a resident. As an example: for a holder and his/her spouse, with three children, the deposit would amount to 90,000 euros plus 350,000 euros, with a private medical insurance and evidence of minimum income that allows self-maintenance in the country.
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