Andorra to introduce omnibus law regulating economic professions

The government and the country’s economists are working on an omnibus law to regulate the entire profession sector across the board. Members of the board of the College of Economists, chaired by Antoni Bisbal, met this Wednesday afternoon with head of government Xavier Espot, Minister of the Presidency and Economy Conxita Marsol, and Secretary of State Jordi Puy to assess the profession’s situation.

There is agreement between professionals and the administration to build a clear regulatory framework. Until now, only the law establishing the professional college exists, and more recently the auditing profession has been regulated through an audit law. In view of a possible association agreement with the European Union, the government is interested in having all professions regulated.

For economists, the plan is to create an omnibus law similar to the law on health professions, covering all occupations linked to economic and business activity. This would clearly regulate roles such as economist, tax and fiscal adviser, accountant, administrative manager and other professions that share an economic and business core.

The economists have submitted a draft text that will serve as the basis for the bill the government would present. The intention is for the new law to be approved next year, preferably in the first half of the year.

Beyond regulating professions, the legislative framework is also intended to include safeguards to protect domestic professionals against the potential arrival of foreign competitors. Those safeguards could require foreign practitioners to demonstrate involvement in the country, maintain a fixed commercial presence in Andorra, and meet other possible conditions that may be imposed.