Residence Without Lucrative Activity
Individuals applying for this visa need to make a €400,000 investment. This €400,000 includes the €50,000 deposit with AFA.
Holders of this visa are not automatically considered tax residents, but must spend at least 90 days per year in Andorra. If applicants spend 183 days or more in the country annually, they will become fiscal residents and therefore liable for taxes.
You will be required to earn 300% of the minimum salary and an additional 100% for other dependents as previously mentioned. Private medical insurance is mandatory, so you will also need proof of this to fulfill immigration prerequisites. Old age and incapacity insurance may also be needed.
As an applicant, you have a 7 month window to prove your €350,000 investment in the country. If Andorran property is purchased, you will need to send a compromis de compra-venda, or purchase agreement to immigration.
If renting is preferred, the rest of your €400,000 investment must be made through other means, such as:
- Investment accounts with Andorran banks
- Shares in Andorran companies
- Other investments in the Andorran property market
- Public company bonds
- Increasing your government bond investment with AFA