Europe? Not Europe?
This country, located in the Pyrenees, is landlocked in the European Union as it borders France and Spain. It is not, however, a member of the EU, although it uses the euro as its currency.
Andorra is the 6th smallest country in Europe with 468 km².
The strong growth in tourism over the last 30 years has resulted in the current state of the housing stock.
Due to the small size of the country, Andorra’s real estate is mainly collective and of recent construction.
Investing in Andorra in 8 points :
- THE ECONOMIC DYNAMISM OF THIS COUNTRY
Several levers are the basis of this. The tourism industry, which accounts for 80% of GDP, tax-free trade and a tax system that is favourable to investment.
- ADVANTAGES OF SETTLING IN THE PRINCIPALITY
With social charges of 20% and an unemployment rate of no more than 4%, the Principality of Andorra, with its attractive labour costs, is a welcoming place for companies.
- AN ATTRACTIVE TAX SYSTEM
The income tax voted is capped at 10%. The non double taxation scheme also makes Andorra the ideal setting for real estate investments or serious expatriation.
- BILATERAL AGREEMENTS THAT PROMOTE INVESTMENT
These have been signed between the Principality of Andorra and many countries, including Belgium. This framework offers a guarantee of stability and clarity in economic relations and encourages investment in Andorra.
- ANDORRA OPENS UP TO FOREIGN INVESTMENT
The law on foreign investment (FDI) was passed in 2012. It is now possible for non-resident foreigners to own 100% of the capital of their Andorran company. There are no restrictions on the movement of capital and assets as with real estate.
- A PRIVILEGED GEOGRAPHICAL LOCATION
The Principality of Andorra is very well located. Long considered landlocked, it is in fact surrounded by two large countries, France: 2.5 hours from Toulouse, 4 hours from Montpellier and Spain: 2 hours from Barcelona. Moreover, the opening of the airport will soon make it possible to reach Paris in 1 hour 10 minutes.
- POLITICAL STABILITY
The Principality is one of the oldest parliamentary democracies in Europe. Its system of co-Principality dates back to the end of the 16th century.
- AN INCOMPARABLE QUALITY OF LIFE
Andorra boasts 260 days of sunshine a year and offers the charm of its natural setting. Nature sports in the summer, superb ski resorts in the winter, access to the Mediterranean is also easy from the Principalats. Leisure activities are numerous and provide an excellent quality of life.