Andorra is a country with 70,000 inhabitants that has 5 banking institutions (soon to be 4, following the approved merger between two of them), several entities specialising in asset management and financial and asset advisory services that require local specialists in the provision of IT and technological services. The Andorran government, aware of this need, has worked fast and hard to implement a regulatory framework that will turn Andorra into a hub of reference in the world of the new technologies and digital economy.
The world is transforming every day very rapidly and this requires the legal and tax advisor to be informed and understand the technological needs of their clients not only from a legal but also from a technical point of view. If the lawyer or the tax advisor does not understand the business, it will be difficult for them to provide quality and professional services.
The complexity for non-technical people to understand this technological revolution and its details requires a high level of technical knowledge from the legal and tax advisor in order to provide a quality service to their clients.
Blockchain technology, although many people identify it with the rise of cryptocurrencies, is a technology that goes much further. Aware that the new regulations currently being discussed in the Andorran Parliament will attract international entrepreneurs from various countries, this requires us as advisors to be aware of all the regulatory and tax developments, as well as technological developments in order to help them to carry out their activities in the best possible way. From the incorporation of the company to carry out the business or start-up, the negotiation of contracts with suppliers and clients and the financing contracts with incubators that provide these entrepreneurs with sufficient resources to be able to carry out their projects.
The world of artificial intelligence and virtual reality is also an ever-growing world and it is a challenge for us to keep abreast of such technologies in order to help entrepreneurs and investors protect their interests from the point of view of intellectual property protection, commercial and tax aspects.
We also have extensive experience in on-line sales activities, e-commerce and consumer rights at Andorran and European level. We also analyse the implications of this type of business in terms of indirect taxation (IGI, VAT) and recommend the best and most efficient organisational structure in coordination with advisors from other countries with which we have consolidated agreements.