Real estate investment opportunity in Andorra
Andorra, officially the Principality of Andorra (in Catalan, Principat d'Andorra), is a small country of just 76,177 inhabitants (2019 census) and 468 km² located in the Pyrenees mountains between northern Spain and southern France. The official language is Catalan, although Spanish and French are also spoken throughout the country.
The Principality of Andorra also has a very favourable low taxation for companies and self-employed people, the third largest ski resort in Europe, a very low crime rate and, according to the WHO, a longevity rate of 83.5 years.
Why invest in Andorra?
Low crime rate
Andorra is one of the safest countries in the world and has one of the llowest crime rates in the world. To give you an idea, the crime rate stands at 153.9 people convicted of crimes per 100,000 inhabitants (source: United Nations Crime Trend Survey), while in Spain, it stands at 4,320 people convicted of crimes per 100,000 inhabitants (source: dsn.gob.es).
Favourable taxation
One of the biggest advantages that residents of the Principality can enjoy is the country's taxation. The general VAT rate in Andorra is 4.5% (0% for health and 1% for education).
With regard to income, up to 24,000 euros per year residents are exempt from paying personal income tax, from 24,001 euros per year up to 40,000 euros the personal income tax rate is 5% and for the bracket above 40,000 euros per year the personal income tax rate is 10%.
It is also worth noting that there is no inheritance tax or wealth tax in Andorra, and bank interest is exempt from taxation up to €3,000 per year.
Skiing in Andorra
The Principality of Andorra has more than 300km of ski slopes between the three current sectors: Grandvalira, Ordino-Arcalís and Vallnord-Pal Arinsal, not forgetting the cross-country ski slopes of Naturland.
Of course, it's not all about skiing and snowboarding in Andorra, you can also enjoy activities such as Tubbing, walks through snowy forests, snowmobile excursions and freestyle parks.
What kind of real estate can I invest in Andorra?
Investing in car parks
If you are looking for a small investment with minimal risk, parking spaces are ideal as, unlike other real estate assets, parking spaces in Andorra are currently a small investment option with a high return.
Investing in houses and chalets
Andorra is divided into 7 parishes; Andorra la Vella, Canillo, Encamp, Escaldes-Engordany, Sant Julià de Lòira and Ordino. Whether you are looking to buy houses and chalets in Andorra or luxury properties in Andorra from Immobiliària Superior we will help you find the ideal house or chalet for you in any of these parishes.
Investing in flats
One of the most common investment options is to buy flats and flats in Andorra, as these are usually rented either all year round to residents of the country or to seasonal visitors who come to spend the ski season in Andorra.
Investing in commercial premises
Another widespread option is to buy or rent business premises in Andorra ), as it is becoming increasingly profitable to open a business in Andorra, among other reasons due to the low taxation.
What requirements do I have to meet to be able to buy property in Andorra?
Any person, whether or not they are resident in Andorra, can buy goods in the Principality. You must be of legal age and, if you are a foreigner, you must also provide proof of a criminal record.
The process for buying a flat is very similar to other countries. First you must look for the property you are interested in buying, then you will have to complete an application for foreign investment in Andorra and have a bank account in the Principality.
WE ACCOMPANY YOU THROUGH THE WHOLE PROCESS
Inmobiliaria Superior offers you a team of real estate experts with a personalised service, discover the individualised Concierge service, accompanying you throughout the process and improving your experience in Andorra..