Companies, entrepreneurs, and freelancers are increasingly relocating to Andorra in order to save money and improve their quality of life. Here are three reasons to relocate to Andorra, as well as some of the country’s tax advantages.
One of the key reasons for investors and entrepreneurs to consider establishing a company in Andorra or establishing residencia fiscal Andorra is the low, attractive, and transparent taxation. Because the corporation tax rate in Andorra is between 2% and 10%, moving to Andorra and establishing a residence there will represent a significant saving and should be considered by anyone with a medium or high income. With the development of organizations specializing in tax advice, it’s more vital than ever to stress the significance of getting the right advice, delivered with the utmost thoroughness and skill, and with the highest level of professionalism. Many businesses provide this type of service without becoming specialists. Andorra One puts the greatest experts and professionals at your disposal for all types of procedures relating to the transfer of residence and asset management once you have arrived in Andorra.
Because of a variety of circumstances, Andorra can afford to have such low taxes. These include not being a member of the European Union (and thus having the ability to make its own political and economic decisions), having a very high per capita income, and not providing economic and social benefits that other countries do (such as unemployment benefits, other social subsidies or the minimum living income). Andorra also makes excellent use of its economic resources and maintains a manageable level of public debt.
Personal income tax (IRPF) is still relatively new in Andorra, so it’s worth examining a few key points before filing your tax return. Every year around this time, taxpayers must take the necessary measures to file their tax returns.