Retire to Andorra
Retiring in Andorra comes with many advantages over other countries. In addition to digital business profiles, the most common new residents in the Principality are individuals with high net-worth assets who want to retire.
Andorra, along with Monaco, has the lowest crime rate in Europe. A sophisticated healthcare system coupled with clean mountain air makes it the ideal place for retirement. Many retired executives choose Andorra, as a tiny country offers several important benefits.
Retiring in Andorra
If you are interested in enjoying your retirement in Andorra, we can help you with our customized solution for passive residency through investment in Andorra. The passive residency program is very popular among retirees and high net worth individuals who are no longer actively working.
Our immigration specialists will advise you on the best possible procedure to apply for passive residency in Andorra and organize the subsequent move. Andorran immigration has specific categories for passive residents and it is important to analyze what is the best solution for you.
Our partner services include the whole process with the immigration authorities, banks, insurance, and the local municipality so that you move and register properly in your new home in Andorra.
A passive non-lucrative residence permit does not allow to work in Andorra, but gives the right to tax residency. Therefore, unlike the active residency, you are not required to pay contributions to the Andorran Social Security Fund (CASS), although the person who comes to reside must provide the appropriate private health coverage.
Retiring in Andorra with Passive Residency
Requirements for non-lucrative passive residency by investment:
- Spend a minimum of 90 days per year in Andorra
- Leave a non-remunerated deposit/bond of €50,000 with the Andorran government
- Make an investment of €350,000 (in addition to the €50,000 deposit) in Andorran assets
- Demonstrate that you have sufficient funds to cover your family’s personal expenses
- Be properly insured with health and accident coverage
- Have clean criminal/police records from your country of birth/current residence
What are the Benefits for Retired Pensioners in Andorra?
- Low crime rate (almost non-existent in Andorra)
- Excellent healthcare facilities and hospital
- Very affordable private insurance plans
- 5%-10% personal income tax on qualified income/investment tax returns
- No inheritance tax/gift tax
- No wealth tax
- Possibility to receive private or public pension with tax advantages (subject to the provisions of the double taxation agreement)
- Qualified capital gains of publicly traded companies are tax exempt
Main tax advantages are built on the pillars of tax planning and economy of choice. Also, the succession of wealth must be planned seriously, with a good advisory and consulting service. Type of assets will determine the tax savings, as well as the participation in the planning scheme of the heirs and legatees. In addition to the type of assets and location, the tax residence is, in retirement cases, a determining factor.
The Top Healthcare System in Andorra
For a smooth and peaceful retirement, one of the essential points is healthcare. As we reach old age, health problems start to become more frequent and severe and it is very important to take proper care of them to maintain a happy and active lifestyle. Having the guarantee of being able to access quality, safe, and not overcrowded health care is a relief for a retiree.
Andorra offers a tremendously competent and solid healthcare and sanitary system, declared as one of the best in the world according to many important scientific rankings and journals.
Physical safety and tranquility
Zero crime has always been a very remarkable and envied feature of Andorra. With almost no criminal activity and delinquency, the few cases of crime are usually easy news. Andorra’s location, embedded in the middle of the Pyrenees, also contributes. What can bring more tranquility than living in a mountainous area where 90% of the territory is forest?
Peacefulness and neutrality
In addition to the absence of crime, Andorra’s rich history of political neutrality is also a very important factor for retirees when choosing this country for their retirement. Principality has been politically neutral for more than seven centuries, despite the numerous world, European and individual conflicts in neighboring countries, especially France and Spain.
Andorra Partner comes with the best tax advisors in the Principality of Andorra, absolute experts in tax planning, and extensive experience in the field. If you are considering the Principality as an option for your retirement, do it with the renowned experts and make safe and lasting planning, both for your retirement and for your subsequent succession.
Also, we offer you comprehensive support, accompanying you from the first moment until your effective relocation to Andorra, guiding and advising you on the services and activities offered by the country. Contact us and tell us about your case, we will customize our services in detail.