Residence in Andorra
Passive Residence Category B (without labor permit)
The requirements:
— The absence of any criminal ties, police clearance certificate from the country of the current residence
— Medical insurance, issued by Andorran company. The average cost of a year-round insurance, depending on the age, will vary from 800 to 1200 per person
— 50000 euro of deposit for the applicant and 10000 euro per each dependent. The whole sum is submitted at Andorran Institute of Finances (INAF) for the period of residence validity. At that, the sum is refunded to the applicant in case the residence is not prolonged.
— The confirmation of financial capacities for living on the territory of Andorra for a year in the amount of 300% of the minimum annual wages in Andorra and 100% for each dependent. The total sum will make up 34634 euro for the applicant and 11544 for each dependent. The sum is deposited to the account, launched in a bank of Andorra. The set of documents includes the bank certificate that confirms the existence of the account with the needed sum. Further on this money can be used as 50000 euro deposit to INAF (available only for a number of Andorran banks).
— Real estate in Andorra (including the rented one)
— The proceeds of activity (at least 85%) should come from abroad
— It is possible to hire only 1 employee with Andorran residence
— The office should locate in Andorra. For that purpose it is necessary either to acquire or to rent commercial real estate on the territory of the country
— Staying in the country no less than 90 days annually
* Currently, due to the constant alterations in the legislation of the country, this category is not really popular among potential applicants. Andorran Immigration Department neither can provide a complete list of documents, needed for this type of residence, nor can it answer the question, what was the reason of inventing that (taking into consideration the fact, that this category hasn’t got any advantages in comparison to Category A (“active residence” type). The activity of the residents that belong to this type is taxed after a while, but labor permit still won’t be issued.
Due to that fact, it will be best for the applicants to mull over the chances of getting Active residence with labor permit (look for “the registration of companies in Andorra” here)
Look here for the list of licensed companies for this service in Yellow pages.
See here CONS & PROS for living in Andorra
