Residence permits, or ‘residencies,’ are available to applicants who are retired or who have an address in the Principality and wish to reside in Andorra for more than 90 days per year. It is worth noting though that once residency is granted it is not monitored.
If you wish to apply for residency, but have no need to seek employment for monetary purposes and so are private income sufficient, you can apply for passive residency. If you need employment to sustain a livelihood in Andorra, you should apply for active residency.
Once an applicant has initially been granted passive residency, it must be renewed within 12 months. After this, it must then be renewed twice more within three years, and then it will be valid for 10 years.
Applying for the active residency is more stringent, and there are more requirements before it is granted.
To apply for active residency in Andorra, you have to attend an interview in the nation’s official language, Catalan. Some companies offer a translator for this interview, who can help to translate the questions into English.
There are numerous benefits to being a resident in Andorra. One of the most important is the fiscal reason of being exempt from the 15% tax that is levied on interest earned on deposits in Andorran banks. This tax is set to be increased over the next couple of years to 35%.
To obtain residency in Andorra, the following are required:
- A Police Criminal History Certificate. If the document is brought from outside of the UK, Spain, France or Portugal, it will have to carry an Apostile, according to the convention of the Hague.
- A national identity document or passport.
- Three passport sized photographs.
- A Certificate of Civil Status (This document will also have to carry an Apostille).
- A Health, Incapacity and Old Age Care Insurance Policy (It is recommended that the coverage is from an Andorran Insurance Broker).
- A certificate stating that you earn four times the Andorran minimum wage (i.e. €29,265.48 annually). This can be provided by an Andorran bank
- Title deeds of any property owned in Andorra, or proof of an intention to buy property.
- A minimum investment of €400,000 in the country from a mix of residential and commercial property; public debt or a bank deposit in an Andorran bank.
- Proof of the deposit transfer to the INAF (Institute of Finances in Andorra) to the value of at least €30,000, and €7,000 for each dependant. This amount will be reimbursed when the applicant leaves the country.*
- The applicant will also be required to sign an Affidavit stating that they intend to reside in Andorra for at least 90 days per calendar year, and that they have not broken any laws outside of their countries of residence.
*The bond necessary for any children wishing to gain residency is €10,000. When the child reaches the age of 25, the visa is no longer valid, and the value of the bond must be increased to at least €30,000.
This information for this guide was provided by Tribune Properties.