Passive Residency Andorra
Passive residency in Andorra is the best way to obtain legal residence without the necessity to work. Andorra’s passive residence visa program aims at professionals with sufficient income, either from rental properties, funds, bank interests, pensions, or any other means of income.
A passive residence permit is very advantageous for people who are not going to stay much of the year in Andorra, as only 90 days are required instead of the 183 for Andorra active residency. In this way, a person has the availability to travel for almost the whole year.
Andorra Passive Residence Focus
- Foreign investors in Andorra.
- Internationally accredited scientific, cultural, or sportspersons.
- Professionals and businessmen with international business projects.
Andorra Passive Residency for Investors
How can you obtain residency by investment in Andorra? This is the easiest way to get an Andorra residence permit. Residency by foreign investment allows you to stay in the country without the need to work or to legally reside once you make your living abroad. Passive residency status is accessible through an investment in the country of €600.000. These are the specific requirements to fulfill if you are an investor:
- Buy property in Andorra or a get rental contract.
- Invest a minimum €400,000 in a property or required amount in a bank fund in Andorra.
- Minimum stay of 90 days.
- Certificate of clean criminal conduct.
- Private medical insurance.
- Medical certificate issued in Andorra.
- A deposit of €50,000 plus €10,000 per family member to the Andorran Financial Authority until the passive residence is settled.
- Proof of income of more than 300% of the Andorra minimum wage, currently at €1,121.47. For each family member add 100% extra.
Passive Residence for Renowned Scientists, Athletes, and Artists
If you are a leading person in the sports, arts, science, entertainment, culture, or writing industry, this residency is for you. Reside in Andorra legally for 2 years, plus renewals. The following documentation will be necessary:
- Certificate of marital status.
- Rental contract or documentation of the purchase of a house.
- Proof of scientific, cultural, or sports qualities.
- Conformity of income of more than 300% of the Andorran minimum wage. In this case as in the rest an extra 100% per dependent person.
- Certificate of clean criminal conduct.
- A medical examination done in Andorra.
- Retirement pension, disability, or pension insurance, if applicable.
- Deposit of €50,000 to AFA plus €10,000 per family member until the passive residence is not resolved.
This permit must be renewed after the first year and thereafter is renewed every three years.
Passive Residency for Professionals with International Business
This program is ideal for people residing elsewhere, who want to visit Andorra for just 3 months per year. Application procedure usually takes between 30 – 90 days. International business permits allow you to stay in Andorra for an initial 2 years, with the option to renew.
Requirements to meet:
- Rental contract or purchase of a property in Andorra
- Justification of sufficient income
- Minimum residence of 90 days
- 85% of the income must be generated in countries other than Andorra
- The main office of the company must be in Andorra
- Accreditation of the business plan to be developed
- Justification of the retirement pension, disability, or pension insurance, if applicable
- Deposit of €50,000 plus €10,000 per family member until the passive residence is resolved
This residence permit is valid for two years and can be renewed for a further two years, with a three-year extension. After seven years, the next renewal will be for ten consecutive years.
Andorra Partner offers financial and investment management services with which you will be able to walk on safe ground and focus on the optimization of tax residency and investment in Andorra with total peace of mind.
Passive Residency in Andorra: FAQ
What is an Andorra Passive Residence?
A passive residency permit is granted to people who reside in Andorra and do not work. A passive visa is intended for individuals with sufficient income to remain without work, such as rental income, pensions, interest, etc.
What are the Requirements for a Passive Residence without Lucrative Activity?
A person must live in Andorra for at least 90 days. Have a property or lease. Private medical insurance and certificate issued by Andorra. Deposit of €50,000 plus €10,000 € for each person in charge. Income 300% higher than Andorra's minimum wage.
What Conditions Must be Meet to Reside in Andorra with Passive Permit?
Individuals who want to reside in Andorra must meet the same requirements as people who wish to reside actively, but with certain nuances: proof of income, 85% of the income must come from other countries, business plan (if it is for professional reasons), retirement, disability, or insurance certificate.
How Long Does it Take to Obtain Andorra Passive Residency?
Passive residency normally requires a process of about 4 weeks to obtain the Andorra residence card. The resident has a maximum of 6 months to prove the investment made in Andorra.
How Can I Get Permanent Residency in Andorra?
After living in the country for twenty years, either through active or passive residency, you'll be able to apply for a passport and finally, call Andorra home. Complete your studies at one of Andorra's schools and spend ten years residing there before renouncing your current nationality - they don't allow dual citizenship here!
How Much Tax Do You Pay in Andorra?
As a holder of a passive residency visa in Andorra, only 10% of your income will be taxed. Sales taxes go up to 4.5% of your purchase price (VAT) but inheritance tax or Andorran investment income tax will only cost you an extra 0%.