Spanish Investor Moves to Andorra to Cut Taxes from 54% to 24%
Real estate mogul Pascual Ariño relocates to Andorra for lower taxes and business growth, maintaining Spanish property income taxation while.
Key Points
- Relocated to Andorra in 2025, reducing tax from 54% to 24% IRNR on Spanish rentals.
- Sets up Andorran holding company owning Spanish entity to avoid dividend taxes.
- Plans to scale by buying distressed real estate debt at up to 50% discounts.
- Reinvests savings for business expansion and larger deals.
Spanish real estate investor Pascual Ariño moved his residence to Andorra at the start of 2025 to reduce his tax burden and create a more business-friendly environment for expanding his operations.
Ariño, who has gained visibility through social media and appearances on programmes like *laSexta Xplica*, manages a portfolio of 16 rental properties in Spain. He maintains that he still pays taxes there on income from those assets via Spain's Non-Residents' Income Tax (IRNR) at a 24% rate. This marks a significant drop from the 54% he faced while living in the Valencian Community.
"The change allows me to reinvest profits more effectively and grow the business," Ariño explained.
To optimise his setup further, he is establishing a holding structure: an Andorran company will own a Spanish entity that handles the properties. Ariño claims this routes profits to Andorra without incurring dividend taxes in the Principat.
His plans include scaling up to larger, more lucrative deals, with a focus on buying distressed real estate debt. This approach enables him to acquire properties at discounts of up to 50%, he said.
Original Sources
This article was aggregated from the following Catalan-language sources: