Why Is It A Great Choice To Create A Company In Andorra
Andorra- The tourist attraction
Andorra is a small sovereign state in South-western Europe. It locates in the eastern Pyrenees Mountains on the borders of Spain and France. Andorra’s leading economy generates through tourism, which accounts for roughly 80% of the GDP. It is such a huge tourist attraction that nearly 10.2 million tourists visit annually due to its duty-free status and summer and winter resorts. It is always profitable to crear una empresa en andorra.
Entrepreneurs decide to come to Andorra due to its business opportunities and its new and attractive fiscal framework of the corporate tax, personal income tax, and the tax on the income of non-residents for tax purposes.
Procedure to Create a Company in Andorra
Andorra is a modern company and has a unique and stable political framework and a dynamic economy. The fiscal conditions over Andorra bring great benefits that are even more appreciated by companies belonging to the technology sector. For all these reasons, it is very interesting for digital companies to crear una empresa en andorra. Let us show you what all procedures you should take to start with:
- Apply for reservation of a corporate name with the required application or a piece of identification to the Andorran administration.
- After the approval of the term, apply for the authorization from the government to incorporate the company.
- Write a public document about your company that a notary will enter in the Andorran Table.
- After analyzing the submitted papers, they will approve the foreign investment.
- Provide a corporate name authorization and the lease contract of your company’s office to the municipality to start your company.
Advantage of creating a company in Andorra
The per capita income in Andorra is among the top in Europe. The whole company has high-speed internet, extensive health infrastructure, and trilingual teaching in schools and universities. It currently has seven double taxation agreements, which aim to avoid international double taxation cases, carrying out a series of measures involving the two contracting countries. These countries are Spain, France, Luxembourg, Liechtenstein, Portugal, and the United Arab Emirates. The labor cost and wages are significantly less as compared to France and Spain. Plus, the average salaries are around $2268.14 per month, with a minimum salary of $1185.80 per month.
Its strategic location in the north with France and in the south with Spain also boosts its business. All these factors show why it is beneficial to go forward with Andorra in doing business.