Andorra ~ Residence for Investors without Gainful Activity
For Investors Residence Without Employment (D.1.1.)
Time to Permanent Residency: – Years ~ Time to Citizenship: 20 Years
Under the Decree approving the Regulation of immigration permits of residence without gainful activity of 2012, a foreign-national who makes an economic contribution to the country or provides international professional services from Andorra, may become, together with his or her family, an Andorran resident.
The initial authorization of residence is awarded for a period of two years. The first renewal is granted for a period of two years, the second renewal for a period of three years subsequent to a period of ten years, except nationals of Portugal, Spain and France, and countries that have signed and ratified an agreement with the Principality of Andorra.
Investment
Residence for Investors Without Employment (D.1.1.)
You must invest a permanent and effective amount of at least €400,000 in one of the following ways:
– Real estate located in the Principality of Andorra
– Holding share capital or equity of Andorran resident companies
– Debt instruments issued by Andorran resident entities or
– Debt instruments issued by any public administration of the Principality of Andorra
– Unnumbered securities with the Andorran National Finance Institute (Institut Andorrà de Finances, INAF).
If you have not made one of the above investments prior to the residency application submission, you must make an undertaking to make such investment within six months. After that, you must provide documents proving it, otherwise your residence permit will be cancelled.
Together with the investment, the applicant must make a €50,000 non-yield deposit in the INAF. For each dependent, an additional deposit of €10,000 is required. The deposit can be deducted from the qualifying investment amount mentioned above, and is refundable when giving up the residence permit.
To renew the residence permit, you must keep the investment and you must physically reside in Andorra for a period of 90 days per calendar year, without exercising any labor or professional activity within the territory.
If you have lived in Andorra permanently for at least 20 years, or you have been a permanent resident for 10 years and have completed compulsory education within the country, you can obtain citizenship by naturalization.
Requirements
– Commitment to make the investment within six months. After this period, you have to provide documents proving such investment.
– Proof of income, usually a tax return and corresponding bank statements, which must state that your annual income is higher than 300% of the annual minimum wage legislation, adding 100% for each dependent.
– Proof of clean criminal record, with a certificate from the country of origin, country of nationality and country of residence.
– Rent or acquire a residential property in Andorra, or proof that you have initiated procedures to acquire one. Which must be concluded within one year from the application submission.
– Undertaking to establish actual residence in Andorra for a minimum of 90 days per calendar year.
Documents Required
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Original and photocopy of passport- Original Police Clearance Certificate
- Affidavit regarding criminal records
- One passport-size photo
- Proof of ownership or rental housing
- Original or Certified copy of Marriage Certificate (if applicable)
- Commitment to establish actual residence in Andorra for a minimum of 90 days per calendar year
- Evidence of Health Insurance
- Medical Certificate
- Proof of income
- Original or Certified copy of Birth Certificate (if applicable)
- Bank Statement
- Original Bank Reference Letter (Not older than 6 month)
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