Due to the high amount of foreigners applying for permits to live in Andorra in recent years, Andorra’s residency rules have been tightened by the government.
These are rules you must follow to acquire and maintain your residency. They are in place to ensure that Andorra only attracts the most productive and serious candidates.
During your application and stay, Andorra’s residency rules entail proof of income, insurance, background checks, and more. The type of residency you apply for and obtain also changes the requirements you must meet, too.
As passive residency attracts investors and entrepreneurs, the rules for income are steeper.
You must be generating 300% of the average Andorran minimum salary, which is approximately €12,604.80. So, this means you need to prove that you make €37,814.40 annually.
It is also necessary for passive residents of any type to invest €50,000 into government bonds.
A passive resident “without lucrative activity” calls for a total of €400,000 to be invested into Andorra. The original €50,000 is deducted from this, and you have 7 months to invest the remaining amount.
To become accepted as a resident and during your stay, there are various rules you must follow. These change based on the exact type of residency that you are interested in.
They are detailed and cover the exact amount of days you need to be in the country. This is 90 days for passive and 183 for active residents.
The rules also cover income and investments, which is most notable for passive residents as it’s for retirees and entrepreneurs.
How you work and conduct business also changes, with things like incorporating and obtains licenses being mandatory. Insurance and criminal background checks are also needed while applying. The rules are strict but living in Andorra is a dream and well worth the effort.