How to Obtain Residency in Andorra
Due to the limited land mass as well as the high ratio of foreigners to Andorrans in the Principality, the Govern d’Andorra has selective methods of admitting new residents into the country. Having said this, Andorra does has one of the most straight forward and rapid residency programs for high net worth individuals and their families in the world. The whole process can be done in days if the matter is urgent.
Residence permits for those wishing to reside in Andorra but not actively work in Andorra itself are called passive residencias, are available to applicants, retired or otherwise, who have an address in the Principality and who genuinely wish to reside in Andorra.
Applicants don’t have to be EU residents. Indeed there has been a significant growth of Russian and other passive residents to Andorra in recent years. Applicants must be in possession of a private income sufficient that he/she need not seek remunerative employment within the Principality. They must have a clean criminal record and have an address within Andorra.
Once the applicant has been accepted, his residencia is issued for a period of one year, renewable after the first year for a period of 3 years.
New passive residents do not have to pay any annual taxes other than small local property taxes. There will be no assessment of world wide income or assets and no inheritance tax.
Foreign residents, individuals and heads of households, will be required to deposit Euros with I.N.A.F., the Andorran Finance Agency. There is an additional deposit per family member. The deposit is returnable on leaving Andorra or giving up the residencia. The deposit does not earn interest.
New applicants must show that they have an annual income of not less than three (3) times the minimum annual salary level stipulated by Andorran Social Security regulations, at present this is 9402 Euros per annum. This amount is increased by a factor of one for each dependent. We have been informed by Credit Andorra that if they are asked for a certificate to substantiate this requirement then they must have a similar amount in cash in the account in Andorra. This will naturally attract interest at the current rates. However, clients may choose to provide acceptable evidence to the immigration authorities e.g. statement of pension income.
New residents must provide proof of a private healthcare insurance cover on a par with that provided by C.A.S.S., the Andorran Social Security System.
Certificates of Good Conduct – British nationals must register with the Honorary British Consul in Andorra, currently Mr. Hugh Garner, and get a certificate of registration from him.