Passive residences, reside in Andorra without doing any work - PSF Consultoría empresarial

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Passive residences, reside in Andorra without doing any work

In order to reside in Andorra without doing any work, either because it is carried out in a timely manner or because we have a heritage capable of sustaining us, there are three models of non-profit (or passive) residence. This type of residence is intended for non-Andorran natural persons who establish their principal and effective residence in the Principality for at least 90 days per calendar year without engaging in any work or professional activity.



The requirements for general passive residence are:

  • Invest at least 400,000 euros in any of the typologies of existing assets (housing, financial assets of the country etc...)
  • Deposit 50,000 euros without retribution at the National Andorran Institute of Finance (INAF)
  • Deposit 10,000 euros more for each person in charge who want to acquire the same condition
  • Count at most with a person hired under a work regime
  • A minimum of 85% of the services provided must be outside Andorran territory

 
Meeting all the above requirements, except for the investment of € 400,000, you can opt for two other types of non-profit residence. The first to develop a professional activity of scientific, cultural or sports interest, the second for a professional activity of international projection. In these two cases, the physical base where this professional activity is developed must be in the principality and a project of the activity must be presented that will be evaluated and approved by the government.

 

These residences are renowned for the famous figures who have used them, but when it comes to the truth they are impractical for people without fame or who can register for an activity on their own, because of its complexity and high cost. For a person with less projection, maybe self-employed, is much safer, much cheaper and actually less complicated to get a residence with self-employment. We do not do a lot of these nowadays, because most people are better with a company here.

 

 

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About the Author

I finished the degree in Development of Computer Applications in Alcañiz and later I entered the financial market first as a systems programmer and then as a trader. During those years I finished my DBA Degree in the UNIR and later I obtained a master in Banking, Financial Markets and Patrimonial Management by the EAE. I also took a course in Financial Adviser from the UPV.

I have done consulting for various clients in both strategic and fiscal matters. I tend to offer integral solutions and now I take care of the administration of PSF. When there is an issue that requires knowledge of markets or investment, I also assume that competition.
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