GSL / Offshore and International Law / Offshore zones / Western Europe / Andorra / Legislation of Andorra

Legislation of Andorra

Service packages Legislation Tax System Audit Services

List of laws and regulations

Act name
Scope of law
trademarks
patents
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Tax treaties entered

France
Liechtenstein
Luxembourg
Malta
Portugal
Spain
United Arab Emirates

Tax Exchange Information Agreement (TEIA)

Argentina
Australia
Austria
Belgium
Czech Republic
Denmark
Faroe Islands
Finland
France
Germany
Greenland
Iceland
Italy
Korea (Republic of)
Liechtenstein
Monaco
Netherlands
Norway
Poland
Portugal
San Marino
Spain
Sweden
Switzerland

List of state regulatory authorities

Andorra Government
General Council Parliament
Ministry of Finance Access to accounting information of the companies and foundations
Ministry of Foreign Affairs
Trademark Registry

Corporate info

Legal system
based upon the French and Spanish civil law
Types of entity
Societat Limitadad (SL); Societat Anonima (SA)
Shelf companies permitted
No
Incorporation timescale for a new company
1 month
Company suffix
S.L.
Sensitive words
generic words
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
Yes
Information to be kept at the registered office
accounting records, ownership information, information about the directors of the company
Seal required, type of seal
not required
Redomiciliation (to, from) permitted
to Andorra - yes; out of Andorra - no

Director and secretary

Minimum number of directors
1
Residency requirements for directors
Yes
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
Yes / annually
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
2
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually
Disclosure to local agent
No
Disclosure to public
No
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
3000
Minimum issued share capital
No requirements
Minimum paid share capital
3000
Authorized capital payment deadlines
Upon incorporation
Issued capital payment deadlines
No requirements
Standard currency
Euro
Standard authorized share capital
3000
Standard par value of shares
1
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
0-10%
Min. rate for corporate tax
10%
Corporate tax (in detail)
Corporate tax is paid at the rate of 10%.
Capital gains tax
Regular rate
Capital gains tax. Details
Capital gains are included in the general tax base.
VAT
4.5%
VAT. Details
The standard rate is 4,5%; reduced rates are1% and 0% for some particular products; 9,5% for bank services.
Withholding tax
0%/5%/10%
Other taxes
social contributions, real estate tax, real estate transfer tax
Exchange control
No
Government fee
Stamp duty

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
Southwestern Europe, between France and Spain
Total area
468 sq. km
Population
77 142 (2019)
Capital
Andorra la Vella
National currency
Euro
Conditional reduction of currency
EUR
Against USD
0.93 (2022)
Climate, average max and min t°
temperate, mountain, softned by The Mediterranean sea; avg. temperaturein December - January is from -2°C to + 2°C, in June-July - from +15°C to +22°C
Time difference from Moscow
- 1 hour
Dialing code
+376
State language
Catalan
Ethnic groups
Spanish 43%, Andorran 33%, Portuguese 11%, French 7%, other 6%
Literacy rate
100%
History
It is a diminutive European State which name denotes “waste plot of land”. The principality of Andorra was established in 805. In 1934 the Russian emigrant declared himself the King of Andorra, Boris the First, but soon he was arrested. The first government of the State was established in 1982. The first Constitution was adopted in 1993. The Principality of Andorra is a constitutional monarchy and there are two co-princes, the Catalan Bishop of Urgell and the President of France. Andorra is not the member of the European Union, but the member of the Council of Europe and the United Nations. Euro was adopted in 2002. Mostly because of its banking facilities Andorra has become a prosperous international commercial center.
Credit rating
BBB+
Government type
Parliamentary democracy
Executive branch
The Prime Minister of Andorra (the head of the Government) forms Executive Council (cabinet) of nine ministers
Legislative branch
The general Council (Andorran Parliament) is a unicameral legislative body of 28 members, elected by popular vote for a four-year term
Judicial branch
Supreme Court of Andorra, Constitutional Court, The District Court (tries major offences), The Magistracy (tries civil, administrative and criminal cases in the first instance)
Unemployment
3.7% (2017)
GDP per capita rank
3,154 USD (2019)
Corruption perceptions index rank
no data

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Banks of Andorra

Bank
The cost of opening an account, $
Global rating
Countrywide rating
GSL rating
3 030
N/A
N/A
1 820
1 283
1
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