The retirement in Andorra has many advantages compared to other countries. And it is that in addition to the profiles on digital businesses, also those of individuals or groups of individuals with great wealth who want to retire and not do business are the most common profiles of new residents in the Principality. One of them is the retired or retired person, people who after having completed their professional stage, they seek peace, tranquility and good non-confiscatory taxation.
Un perfil de la tercera edad jubilado puede obtener el permiso de residencia en Andorra mediante la autorización de non-profit residence. Este permiso de residencia no otorga el derecho a trabajar en Andorra, pero sí a residir fiscalmente en el país. Por tanto, a diferencia de las residencias activas, no requiere cotizar a la Caja Andorrana de la Seguridad Social (CASS), aunque exige que las personas que vengan a residir tengan la debida cobertura sanitaria privada. Además, is compatible with the perception of the retirement pension of the country of origin.
Tax advantages of retirement in Andorra
The main tax advantages the ones that retirees enjoy when residing in Andorra are:
- (i) The non-requirement of wealth tax.
- (ii) The non-existence of inheritance and gift tax.
- (iii) The low tax on the returns that can be obtained from your assets (maximum rate of 10%, in some cases total exemption, depending on the type of return).
In other words, the main tax advantages are built on the pillars of the tax planning and the option economy. Thus, each profile presents a different heritage, and therefore, tax advice with international tax experts is essential prior to transfer. Sometimes it may not be interesting to reside in Andorra, at other times it can be extremely lucrative with significant tax savings. Always depending on the patrimonial structure, the type of assets held and the legal category of the income to be received.
Also the estate succession must be planned seriously and with a good advisory and consultancy service. Again, the type of assets will mark the tax savings, as well as the participation in the planning scheme of the heirs and legatees. In addition to the type of assets and their location, tax residence is, in retirement cases, a determining factor.
The best healthcare system in the world
For a smooth and easy retirement, one of the essential points is health. Upon reaching the third age, health problems become more frequent and severe and it is very important to take proper care of them in order to maintain a happy and active lifestyle. Have the guarantee of being able to access quality, safe and unsaturated healthcare is a relief for a retiree.
Just like we explain in the article dedicated to it, Andorra can boast of having a tremendously competent and solid health system, declared as the best in the world according to many rankings and important scientific magazines.
Physical security and tranquility
The null crime has always been a very remarkable and envied feature of Andorra. With a almost null crime and criminalityThe few crime cases are usually easy news. Its location and orography, embedded in the middle of the Pyrenees, also contribute to this issue. And what more tranquility than living in a mountainous area where more than 90% of the extension is forest territory.
Example of peace and neutrality
Además de la nula criminalidad, la frondosa historia de neutralidad política de Andorra es también un factor más que relevante para un jubilado al decidirse por este país para su retiro. Y es que the Principality has been in political neutrality for more than seven centuries, in spite of the numerous world-wide, European and particular warlike conflicts of the neighboring countries, especially France and Spain. This was stated by Xavier Espot, the current Prime Minister, at last year's Peace Forum.
Neither the succession wars, nor the Napoleonic wars, nor the various coups d'état, not even the Second World War was able to shake the balance of Andorran pacifism. A clear example of flight from full-blown war and political conflict.
At Andorra Insiders we have, among others, the best tax advisers in the Principality of Andorra, absolute experts in tax planning and with extensive experience in this area. If the Principality is considered as an option for your retirement, do it in the hands of the best experts and carry out a safe and lasting planning, both for retirement and for subsequent succession. In addition, we offer comprehensive support, accompanying you from the first moment until your effective transfer, guiding and advising you on the services and activities that the country offers. Contact us here and tell us your caseWe will personalize our services carefully.