In this article we will explain 15 quick reasons why investing in Andorra, whether creating a company, residing in the Principality, or acquiring real estate or bonds and letters of the country is a good idea.
- The Principality has a very stable political framework and economy. With an economic growth of 3.2% on average since 2000, this small country has a strong, stable and secure economy. It is also relevant that you have about 2% unemployment only. As if that were not enough, his policy stands out for solidity and neutrality, and has always remained peaceful during conflicts (Spanish civil war, World War II). And as every investor worth his salt knows, stability is essential to invest.
- It is a country prosperous and diverse. With a GDP per capital with purchasing power parity of 49,193 international dollars constantly increasing, Andorra is an increasingly wealthy country. The sectors and markets that it covers are increasingly more and more diverse, especially with the digitization of the economy and the world in general.
- A tourist country, with a market of 8 million visitors a year who come from shopping and sports and leisure trips. 75% of the Andorran economy are services, the potential market is huge and can bring great benefits. On the other hand, this means that there are always events and things to do. There is no boredom in a country dedicated abroad.
- Negotiations of an association agreement with the European Union which will facilitate access to the internal European market, with more than 500 consumers. Since the reforms initiated after the financial and BPA crisis, Andorra is more open to the world than ever.
- Non-double taxation agreements signed with many countries, from France, Spain and Portugal to Luxembourg, United Arab Emirates, Liechtenstein and Malta. Your taxes will only be taxed once, and if it is in Andorra you will enjoy one of the jurisdictions with the lowest taxation in the world.
- One of the most competitive tax frameworks in Europe. Homologated but with low rates, Andorra has taxes similar to those of its neighboring countries, but with substantially lower rates. From a VAT of 4.5% to a corporate tax and personal income tax of maximum 10%, the Andorran tax system is very attractive for investors.
- Solid and competent public financial system. Andorra has a public debt of less than 40% of GDP, and each year the debt level falls and the rating of international auditing companies increases. To get an idea, Spain and France have around 100% public debt, and Germany financially strict more than 60%.
- Andorra has the best health system and is the fourth healthiest country, according to The Lancet. Health based on the principles of co-responsibility, solidarity and freedom of doctors, together with the fact that the Andorran economy works very well, make their social security and health system not only sustainable, but competent and attractive to their users and citizens
- Internet connection of the latest technology. Andorra has since 2013 covered fiber optic in all homes and towns in the country, and also constantly renews and increases maximum speed, currently being at a rate of 700 Maps at a very affordable price.
- A country willing to bet on the sectors of the future. Andorra is determined to be a truly live laboratory for companies and researchers, supporting innovation, start ups and present and future markets such as big data. This was stated verbatim during the celebration of the Smart City Expo World Congress event, in Barcelona. It also offers its support to cryptocurrency, block chain, artificial intelligence and much more.
- Access to excellent education. Although in Andorran education the Andorran system is undoubtedly weak compared to education in Barcelona (especially due to infrastructure and lack of diversity of degrees), primary and secondary education in Andorra is exquisite. Also, formed by three different models to choose from: Spanish, French and Andorran. Freedom is usually always taken into account in this Principality.
- A safe country, with the lowest crime rates in the world. The proverbial Andorran security was known 55 years ago and continues to be today, in the 21st century, when everything is measured with statistics. The United Nations Crime Trend Survey, the worldwide crime statistics published annually by the United Nations Office on Drugs and Criminality, evidence year after year the low incidence of crime in the country of the Pyrenees. The latest statistics from the United Nations statistics establish criminality in Andorra in 153.9 people convicted of crimes per 100,000 inhabitants.
- An open and cosmopolitan society that brings together people of more than 100 different nationalities. In this Principality converge languages and nationalities of all kinds. In summary in Andorra there are: 49% of Andorrans, 25% of Spaniards, 12.3% of Portuguese, 4.3% of French and thus up to more than a hundred different minority nationalities. This coexistence, tolerance and understanding makes full sense both for the location of the country, as for the importance, as for the fact of being an open and essentially tourist country.
- One of the lowest electricity rates in Europe. Unlike what happens, for example, in Spain and France, where there are more taxes, taxes and subsidies on the price of electricity than the cost of production itself, in Andorra it hardly has the obvious price for maintaining the network. In addition, electricity that does not produce is imported from its neighboring countries obviously without taxes and at a good price, resulting in a fairly cheap rate.
- Highly Committed Government with an open international economy, innovation and economic diversification. In a world as globalized as today, being cosmopolitan, open and attractive is a giant step towards prosperity. Even more so when it comes to investing or starting business, because dynamism is what moves the invention and discovery.
- A country of landscape and environment. With more than 95% of the territory of Andorra being forest mass, having three natural parks of which one world heritage of humanity, a clear commitment to recycling, efficient energy and clean air, the Principality is a good reference for environmental sustainability. In addition, they have no other option: they live on tourism and the services that partly gives their rich mountain ecosystem that the Pyrenees offer.
In summary: why to invest in Andorra
The Principality of the Pyrenees is now in a perfect situation for investment. It has just opened abroad recently with the accumulation of reforms begun over 2009 and is still in the process of becoming a new country that is more open, more international, with more foreign capital and more entrepreneurship. The resident population, companies and capital attracted by Andorra increases' year by year, without pause. In addition, currently the cost and lifestyle already offers considerable advantages.
Do you want to take advantage and invest now that the country is being reborn or do you prefer to wait for others to reap the fruits of the now seeds to do so, then too late? We have already made the decision. Now you need to take yours. If you want to dare, feel free to contact us by clicking here. We will inform you, personalize your case and carry out all the relevant procedures with professionalism, at full speed and at the lowest cost so that you can take advantage of your investment. You can also see what they are our services and understand why we are the best option for your establishment in Andorra.