Andorra. Immigration by Investment

Size: px

Start display at page:

Download "Andorra. Immigration by Investment"

Cassandra Owen
6 years ago
Views:

1 Immigration by Investment

2 In Europe, Andorra is the perfect country for your holidays and weekends. Hotels, restaurants, skiing, spa resorts, adventure sports, shopping, excursions, culture, cuisine, etc Many activities and experiences await you in Andorra. Tourism, the mainstay of Andorra s prosperous economy, accounts for roughly 80% of GDP. An estimated 8 million tourist s visit annually, attracted by the country s dutyfree status and by its summer and winter resorts. Andorra also known for its world class ski resorts and for over one thousand hot springs spread around the country. Given the current difficulties being experienced in Europe s banking sector, it is noteworthy that the international ratings agency Fitch Rating still give an A rating for the three largest banks of Andorra (Credit Andorra, Andbank and Morabanc). The banks themselves, whilst not being the same scale as those in larger countries, have exceptionally high solvency and liquidity ratios. They also offer a highly secure privacy service for high net wealth individuals, similar to that offered by banks in Switzerland and Monaco. Andorra is not a member of the European Union, but enjoys a special relationship with it, which entails being treated as an EU member for trade in manufactured goods (meaning that there are no tariffs) and as a non-eu member for agricultural products. Since the conclusion of this agreement with the EU, the country s market has benefited from a broader availability of goods from neighboring France and Spain, as well as lower tariffs. Andorra successfully negotiated to issue its own Euro coins, beginning in The country traditionally had one of the world s lowest unemployment rates. For many years, it stood at 0%. ANDORRA the country of the Pyrenees Andorra enjoys close proximity to other European cities and resorts of great interest and attention, such as (Barcelona, Toulouse, and the Costa Brava), it is connected to the principal road networks of Spain and France, and several international airports at less than 200 km away. With more than 1,000 years of history, the Principality of Andorra has a rich cultural heritage with outstanding features and attractions in each of its villages and valleys. Area: km2 ( sq. mi) Capital: Andorra la Vella Population: 85,082 Official language: Catalan Recognised languages: Spanish, French, Portuguese and English Currency: Euro ( ) Andorra has a high mountain climate: with cold temperatures in the winter and mild in the summer. The atmosphere is dry. It is near to the Mediterranean, so most days of the year are sunny. National festivals: 15th March, Constitution Day of Andorra; 8th September, Meritxell Festival, patron saint of Andorra

Documents: 1. Original and photocopy of passport 2. Passport photo 3. Criminal record from place of birth, nationality and last country of residence 4. Marriage certificate 5.

Be the holder of a pension scheme or a pension. (This can be done in Andorra) 8. Bank certificate of an income 3 times higher than the minimum salary of Andorra per year.

3 Documents: 1. Original and photocopy of passport 2. Passport photo 3. Criminal record from place of birth, nationality and last country of residence 4. Marriage certificate 5. Rental contract or property deeds in Andorra 6. Be the holder of an insurance policy covering incapacity and medical expenses. (This can be done in Andorra) 7. Be the holder of a pension scheme or a pension. (This can be done in Andorra) 8. Bank certificate of an income 3 times higher than the minimum salary of Andorra per year. Introdcution to the program: become a passive resident of Andorra Since law 9/2012, the modification of the Qualifying Immigration law, became effective, on May 31st, Andorra now allows foreign individuals to obtain residency as long as certain requirements are met. Within a maximum of three(3) months from the time of obtaining the residency, the principal holder must invest, in a permanent and fully paid manner, at least, Euros in a designated government authorised project. Application Procedure : 1. Sign authorised agreement 2. Submit application documents 3. Open a bank account in Andorra, and invest 400,000 ( 50,000 as deposit, 350,000 for investment). 4. Pass a basic medical exam in Andorra 5. Obtain Permanent Residence Card within three (3) months. Details of 400,000 Investment An investment of 400,000 will have to be made in Andorra. This can be made by purchasing a property, buying shares in an Andorran company, or buying public company bonds (Andorran government treasuries). This total includes a deposit of 50,000, which must be paid to the Financial Institute of Andorra (INAF). This deposit will be returned without any interest, once the applicant gives up his residence permit. Each dependent (wife, children) who would also like to become resident, will need to pay 10,000 per person. This deposit will be deducted from the 400,000 investment. For example, if you are a family of 4 members, the deposit to INAF will be 80,000 and the investment in Andorra will have to be for 320,000. Main applicant Main Appliant & Spouse Main Apllicant, Spouse, 2 chlidren & Main applicant s parent Deposit per case 50K 60K 100K Investment amount 350K 340K 300K Total Investment Fund 400K 400K 400K Legal fee Other charges, such as administrative charge, handling charge Grand Total 12K (per case) 40K (per case) 52K (for whole family)

03 Reliable Partner The investment immigration project is jointly operated by the Andorran government and the country s largest bank. This bank is ranked as one of the 30 most liquid banks in Europe.

4 Why Andorra? 1 No Visa required when travelling to France, Spain or Portugal. Easily to obtainable Schengen Visa, as well as multiple entry visas for Australia, Canada, the United Kingdom, and the USA. 03 Reliable Partner The investment immigration project is jointly operated by the Andorran government and the country s largest bank. This bank is ranked as one of the 30 most liquid banks in Europe. Banks in Andorra offer the most secure and client friendly service in the world. For privacy, you may also choose to open numbered accounts, similar to those offered in Switzerland and Monaco. Benefits: - Except for personal reasons, 100% guaranteed application pass rate. - This is a government issued product; your investment is highly secured. - Become an Andorra Permanent Resident within 3 month. - No business background, language or education requirements. 02 European Passport for your chlidren After obtaining your Permanent Resident Card, children born in Andorra will automatically become Andorra natural- born citizens. Tax Haven 04 Andorra has long been known as a tax haven. There is no income tax, no asset tax and no capital tax. A VAT (Value Added Tax) rate of 4.5%, considerably lower than the rest of Europe Duty-free shopping in 1,000 shops and 7 large shopping centres spread throughout the country. We offer auto renewal service for Permanent Resident card. The PR card will be renewed according to the following timeline 2 years, 2 years, 3 years, and 10 years, finally becoming an Andorran citizen. Andorra enjoys long standing freedom and a stable society; it is one of the best environments that your can provide for your children. Andorra is also a paradise for nature lovers: 90% of the country is forest. The people of Andorra have the 4th highest human life expectancy at birth in the world 82.5 years. World class medical and financial services. One of the most popular health resorts among wealthy Europeans.

5 Immigration by Investment

YOUR ACCESS TO EUROPE CYPRUS INVESTMENT PROGRAMME

YOUR ACCESS TO EUROPE CYPRUS INVESTMENT PROGRAMME August 2018 Cyprus Benefits of Cyprus Passport Imperio Properties x2 General Information Cyprus has a perfect geographical location situated at the crossroad