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Andorra

Andorra Flag

Country: Andorra
Region: Europe
Currency: Euro (EUR) (€)
Languages: Catalan
Time Zone: UTC +1

Phone Code: +376

Communications: Good

Formation Cost: 600 - 1400 USD$
Formation Time: 10-18 days
Maintenance cost: 100 - 500 USD$

Executive Summary: Situated in the Pyrenees Mountains between France and Spain, Andorra’s economy is dominated by tourism with approximately 8m visitors arriving every year, but banking and associated financial and advisory services also contribute substantially to GDP. Traditionally, banking secrecy has been very tight in Andorra, but a new law was passed in 2009 under pressure from the OECD to facilitate the exchange of information with other jurisdictions. Until 2011 there were no taxes in Andorra for resident companies or individuals other than modest annual registration fees, municipal rates, property transaction taxes and some minor sales taxes. Legislation providing for a corporate income tax, initially on non-resident entities, at a rate of 10% came into force as of April 1, 2011. Both resident and non-resident companies are also now subject to tax on local-source income at a rate of 10%. Andorra also has a growing network of tax information exchange agreements and is negotiating some bilateral double tax treaties.

Suitable for: Banking, Insurance, Intellectual Property/Licensing, E-commerce
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Societat Anonima, Societat Colectiva, Societat Limitadad, sole proprietorships, branches and general partnerships

Capital primary business districts: Andorra la Vella

Good Relationships: France, San Marino, Spain, Turkey

Bad Relationships: Burma, Egypt, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 10%, PIT 10%, VAT 4.5%

Treaty Jurisdictions: None

TIEA Jurisdictions: Argentina, Australia, Austria, Belgium, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Liechtenstein, Monaco, Netherlands, Norway, Poland, Portugal, San Marino, Spain, Sweden, Switzerland

Information Links:

 

 

 

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