Crisis with Banca Privada d’Andorra didn’t affect the volume of foreign investments into Andorra (Pyrenees) in the first quarter 2015. Such conclusion is made in the report of the Ministry of Economy of Andorra which is headed by Josep Maria Misse. This conclusion is based on amount of inquiries from the foreign citizens/ mainly from Spain and France, planning the investment activity in the principality. At the same time, Josep Maria Misse doesn’t exclude that crisis with BPA will affect the volume of foreign investments in the next several months: crisis burst on March 10, in only three weeks before the end of the first quarter 2015.
According to Ministry of Economy of Andorra, within the first three months 2015, 165 demands for the right of implementation of investment activity in the territory of the principality came to the government (40 in January, 60 in February and 65 in March). Total amount of the declared investments made about 15 mln euros. For comparison: in the first quarter 2014 there were 171 requests which made the sum of 18.6 mln euros.
Interest of foreign investors in realization of business initiatives in the territory of Andorra confirms also number of appeals to the Government of Andorra, within the ACTUA corner project. The purpose of this project — processing of all requests for investment activity in the mode of direct dialogue of the government of Andorra with potential investors (the office is situated on the first floor of the building of the government, ACTUA employees render consulting services and promote preparation of business projects). Since May of last year the number of the applications submitted to ACTUA corner office grew more than by 50% (it is about 658 presented business projects). Partially demands are processed by phone and e-mail of ACTUA office.
For the first quarter of 2015 76 applications for granting the credits were also submitted, from them 58 demands for total amount of 30.9 million euros were approved.
See also Andorra business guide
See also Andorra company formation
