Andorra Imposes €1M Investment and Non-Refundable Fees for Passive Residents
Andorran Parliament approves stricter economic requirements for foreign passive residents and self-employed entrepreneurs, including €1 million.
Key Points
- Passive residents require €1M investment, €800K min property if included, plus €50K non-refundable fee.
- Self-employed 'per compte propi' need €50K non-refundable contribution.
- First-time non-refundable payments; previously all refundable.
- Gov't can reject projects without clear added value; funds support social policies and housing.
The Andorran government has released a video outlining new economic requirements approved by Parliament for foreign entrepreneurs and passive residents seeking to live in the Principat without engaging in local economic activity.
Passive residents must now commit €1 million in investment. If part of this includes purchasing property, the minimum price is €800,000. In addition, they face a non-refundable contribution of €50,000. Self-employed entrepreneurs in the "per compte propi" category must also provide €50,000 non-refundable.
Previously, all such contributions were fully refundable, marking the first introduction of non-refundable funds. The government now holds sole discretion to reject applications from foreign entrepreneurs if their projects lack clear added value for Andorra.
Revenues from the non-refundable payments will fund social policies and housing initiatives, according to the executive. The changes aim to tighten residency criteria while supporting public priorities.
Original Sources
This article was aggregated from the following Catalan-language sources: