We have extensive experience in services related to tax planning for private clients. We review and advise on the possible implications that may arise in the countries of origin when a person decides to transfer their tax residence to Andorra, whether residence with a work permit, residence for self-employment or active residence or residence without a work permit, commonly known as passive residence. In this regard, we are aware of certain regulations in some countries which, in order to put up exit barriers for taxpayers, have introduced so-called exit taxes for those taxpayers who decide to transfer their tax residence to another country.
On the other hand, we have proven experience in assisting companies and enterprises in their investments in Andorra, as well as in foreign investments in the country. We also help companies in all aspects of their establishment in Andorra, from fiscal, tax, commercial and labour aspects.
In recent years we have seen that following a series of measures resulting from the COVID-19 crisis, most countries have substantially increased the tax burden on taxpayers.
Of course, before you can acquire tax residency, you must first obtain permission from the immigration authorities. This is known as an administrative residence permit. In Andorra there are different types of administrative residence permits: active residence, for those entrepreneurs who want to start their business in Andorra or continue the activities they were carrying out in their country of origin in Andorra; the so-called passive residence for those who only require a residence permit but without permission to work. And we also master certain special types of residence for artists, sportsmen and people of recognised prestige.
Andorra is also currently working to make it easier for entrepreneurs in the digital economy sector to move to Andorra or to develop their business activity in Andorra without residing in the country.
For us it is essential to protect the interests of the client and therefore it is essential to know the details of international taxation as well as the local requirements demanded by the Andorran administration.
We are also aware of the implications of inheritance tax in certain countries, wealth tax and other types of direct taxation and we consider these aspects when advising private clients.
On the other hand, we are experts in advising companies and corporations both locally and internationally. There are companies that for various reasons decide to transfer their tax and company residence to Andorra without losing their legal personality. This is possible, and we have experience in this type of processes.
Once administrative and tax residency has been obtained, we accompany the client in their day-to-day work, providing them with the following services:
Tax optimization and filing of personal income tax returns.
Local and international tax planning.
Keeping company accounts.
Filing of indirect tax returns (IGI)
Filing of corporate tax returns.
Establishment of tax-efficient investment vehicles (investment funds; open-ended investment companies; unit-linked life insurance)