Until these years, Andorra was inaccessible for foreign investors wishing to manage their business fully. However, after a law was passed in 2012 allowing foreign entrepreneurs to own 100% of the company, the attractiveness of this jurisdiction for non-residents has increased significantly. Non-resident investors received practically the same rights as local investors, i.e., they are allowed to open branches of external companies and establish firms within the state.
Despite the fact that this is a small principality, Andorra is an international leader in the field of technological and innovative developments, actively participates in the global banking and financial systems, minimizing the interference of government officials in the business environment. This is an offshore company that is quite liberal towards non-resident investors, which in every possible way supports the banking sector with various benefits and encourages tourism, the introduction of high technologies, trade, and so on. But, offering favorable and convenient conditions, Andorra puts forward no less stringent requirements.
Entrepreneurs wishing to open a company in Andorra will need to do the following:
- submit an application for authorization of the investment process, indicating in it the amount of capital planned to be invested, the field of activity, the nature of economic relations and strategic partners, etc.
- wait for the application to be approved by the Foreign Investment Department;
- provide confirmation of the Articles of Association, which must contain a detailed description of the company’s activities;
- if foreign founders own more than 10%, the entrepreneur will need to obtain a letter of approval from the Ministry of Economy.
Company registration procedure
You can register a company in Andorra through several of the following forms:
- An analogue of the well-known LLC – S.L. This form is convenient for trading and working in the service sector. Min. capital: 3+ thousand euros. The number of owners is limited.
- S.A. This option is similar to AO. This option is more suitable for large companies with many owners. Min. capital: 60 thousand euros.
- S.C. It is a firm whose capital is divided among the participating partners. Limited liability. The requirements for this OPF are similar to AO.
- Of the not so popular and profitable forms – various types of partnerships, branches of foreign enterprises, production companies, etc.
The first stage is the filing of an application, which contains the name of the company in Catalan. After that, the entrepreneur needs to send a request for authorization to the registration authorities, pay the fees and wait for the application to be entered into the Business Register and the Trade Register. The entire registration process can take about 3 months. Finally, the entrepreneur receives a registration address and a document certifying the direction of the activity of the municipality.
If you need to register a company in Andorra, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Andorra. Write to us in the CRM form and we will help you register a company.
Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.
We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.
If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.