Andorra Company Formation |
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Andorra is a self-governing principality, although jointly ruled by the French head of state and the Bishop of La Seu d'Urgell from northeastern Spain. If properly structured, Andorra company formation allows global entrepreneurs to legitimately conduct international business exempt from tax. The following information will help you determine whether Andorra company formation is the optimum solution for your business.
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Advantages of Andorra Company Formation |
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| 1. | Under the Foreign Investment Law, Andorra company formation allows foreigners to hold 100% shareholding in offshore company branches within 200 specified economic sectors, including audiovisual, e-commerce, aesthetic medicine, industrial production (new technologies), research and development, training, amongst many others. |
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| 2. | There are no exchange controls in Andorra. |
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| 3. | Due to Andorra’s tax efficiency and the principality’s open business environment, Andorra company formation is an excellent way to collect the proceeds of legitimate international business activity. |
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| 4. | It is easy to open global corporate bank accounts to support Andorra company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services. |
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Disadvantages of Andorra Company Formation |
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| 1. | Andorra company formation for any commercial or profit seeking company not listed in the 200 exempt sectors (listed above) requires more than 50% shareholding by an Andorran citizen, making Andorra company formation unattractive for international trading operations for some investors in some industries. |
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| 2. | A minimum of two shareholders is required for Andorra company formation. |
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| 3. | Andorra company formation law requires a Societat Anonima (SA), a private company, to have a minimum paid up share capital of €30,000 (US$42,900). The SA is costly, and requires more government checks and clearances to incorporate. However, Andorra offers the Societat Limitadad (SL), similar to a Limited Liability Company (LLC), which only requires minimum share capital of €3,000 euros (US$4,300) and two shareholders for incorporation. |
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| 4. | Andorra is a signatory to the EU Savings Tax Directive, and levies the standard 15% withholding tax on returns paid to EU bank accounts. |
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| 5. | Annual accounts must be submitted to the government following Andorra company formation. Healy Consultants will assist our clients efficiently and effectively to complete this annual statutory obligation. |
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| Contact Us | ||||||||||||||||||||
For additional information on Andorra company formation, contact email@healyconsultants.com or telephone us at (+65) 6735 0120. |
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