Economy

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Inversió-estrangera

Assessment of foreign investment in property in Andorra in 2023

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En 2023 el volumen de inversión extranjera inmobiliaria aumentó, pero se frenaron las peticiones.La inversión en inmuebles por parte de extranjeros aumentó en Andorra un 40 %, aunque se recibieron 71 solicitudes menos. En cuanto a la inversión extranjera directa, se observó una disminución del 19,1 % en la presentación de solicitudes y una caída del 28,9 % en el volumen global. En conjunto, se registraron 1.012 peticiones para invertir en Andorra, lo que representa 239 solicitudes menos que en …

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euro-digital

The digital euro: how will it affect us and what will be the result?          

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The European Central Bank is engaged upon the development of a common digital currency for use within the eurozone. The digital euro project is currently in the preparatory phase and is not scheduled for introduction until 2027 at the earliest, with a phased implementation. Since the European Central Bank initiated its planning for the digital euro in July 2021, progress has been made, but there are still several aspects to be resolved. Some of them have already been identified. Table …

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acord-associacio-europa

An Association Agreement between Andorra and the European Union

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Andorra is a microstate in Europe. It is neither part of Spain nor part of France, although it shares cultural characteristics with its neighbours due to its geographical proximity. Like other countries of its type in Europe, it does not belong to the European Union or the European Economic Area. However, it has had agreements with the EU since 1990. The country is currently negotiating an association agreement to widen relations with the EU, and to give it access to …

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aeropuerto-andorra

How has the opening of Andorra-La Seu d’Urgell Airport affected the country?

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Last Update: 5/01/24 Until recently, the only way to reach the Principality was by road. If you wanted to get there by air, you had to fly to Barcelona or Toulouse, which were the closest airports. However, they are about three hours away by car or public transport. To make itself more accessible, Andorra launched its first airline, connecting the Pyrenees with Madrid, at the end of 2021. Table of contents: The Andorra-La Seu d’Urgell Airport A new start for …

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Informe-anual-fmi

The Andorran economy will grow by 2.1% in 2023, according to the IMF

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The International Monetary Fund’s (IMF) latest Annual Report provides global economic forecasts, highlighting broad trends and offering in-depth analysis of individual economies. It serves as a guide to understanding and anticipating economic movements on a global and regional scale.Andorra, as the 190th member of the organisation, is also included in this analysis. The report provides a detailed overview that lets us paint a clearer picture of what the economic future may hold for our country. Table of contents: Improvement of …

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Tax burden

What is the tax burden in Andorra?

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Andorra stands out for its fiscal competitiveness and its tax system, which is comparable to that of other countries. Its economic stability, underpinned by a sound fiscal policy, makes it an attractive location for investors looking for new opportunities abroad. Much of the available information focuses on what taxes are paid and at what rate, but less attention has been paid to the way in which they are collected. In this article, we discuss the tax burden in Andorra, another …

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informe-economic

The economic performance of Andorra in 2022

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In 2022, the global economy experienced several changes and challenges. It was a year marked by changes in government policy to deal with the consequences of rising inflation, increases in interest rates and rising prices. As elsewhere, Andorra’s economic outlook was varied and dynamic. This is reflected in the 2022 Economic Report presented by the Andorran Chamber of Commerce, which analyses last year’s growth situation and the prospects for the future. Table of contents: The country’s growth reaches the level …

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suspensio-temporal

Temporary suspension of foreign investment in property                               

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The Andorran Government has announced the temporary suspension of foreign investment in property. This initiative, which has already been approved by the Andorran parliament, is intended to alleviate the national problem of a lack of affordable housing for renting. It has been introduced as a transitional measure pending the introduction of the tax on foreign investment in property, which is expected in the autumn. Table of contents: Moratorium on approvals for foreign investment in property Draft law reforming the law …

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startup-andorra

Start-up : what is it, and how does this type of company work in Andorra?

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In the digital age, start-ups are driving innovation and economic growth on a global scale. These emerging companies, driven by creativity and technology, have become an attractive sector for investors seeking new business opportunities. However, until the end of last year, Andorra had no specific legislation for this type of economic activity. With the approval of the new law on the digital economy, innovation and entrepreneurship, a section has been created to regulate the creation, operating conditions and characteristics of …

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banca-andorrana

How Andorra’s banking system works: the keys to understanding Andorran banking

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One of the most interesting aspects of our country is the way in which the Andorran banking and financial system works. For this reason, in this article we are going to explain the most important characteristics of that system. You will certainly find it useful to know about them if you are thinking of moving here. Table of contents: Information about banking in Andorra Activities and services offered by banks in Andorra Andorra is part of the SEPA zone Bodies …

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