Creating a company is not an easy job; it takes a lot of hard work. Andorra is a small state bordering Spain and France. The country is not a part of the European Union and has a special status in Europe. Because of the country’s infrastructure, fiber-optic internet services, and other factors, it is a practical choice for opening a business, crucial for investors and entrepreneurs. You can establish types of holding companies in the country.
Why pick Andorra?
There are some significant reasons why picking Andorra is beneficial for you. The country has modern jurisdiction with low and transparent taxation. The country’s legislation has been changing, and the creation of companies has become a more likely thing.
It is the reason why Andorra has been the first choice for businessmen. The country is a tax haven for up-and-coming businesses.
Some more benefits in Andorra
Andorra is a beautiful province with spectacular countryside with ski slopes, perfect for sports lovers. It also makes the country an excellent choice to live in.
The country also has multiple bilateral agreements with other countries, creating the right business environment.
Business entities in Andorra
If you want to start any firm in Andorra, you must have a fiscal domicile. You can launch the companies in two ways:
- Sociedad Anonima (SA) or Public Ltd. – the minimum capital required for starting these companies is 60,000 euros.
- Sociedad Limitada (SL) or limited liability company – the minimum capital starts at 3,000 euros.
All the companies (that file for quarterly annual tax returns) have a tax system similar to Spain, but the corporate tax is interesting in Andorra. The company established in Andorra needs an administrator, no matter what the company does.
How to start a company?
For starting a company in Andorra, you must have a clean criminal record. There also must be authorization from the government.
To make every step involved easy for yourself, you can take the help of Andorra Lawyers.