According to the most recent data, more than 2,000 people reside in Andorra with passive residence visa, being Spaniards, French and British citizens the main applicants.
Of these 2,000 tax residents, around 900 are long-term residents and about a thousand are residents with non-profit activity, being this the main issued visa. Apart from this group, there are also around a hundred passive residents in the Principality for scientific, cultural and sporting interests, as well as all those professionals with international prominence who have presented a project to be developed in Andorra.
Regardless of the type of visa granted, living in Andorra guarantees a high quality of life and a wide range of advantages in terms of taxation. If you are thinking of setting up your residence in Andorra and enjoy all the tax benefits offered by the Pyrenean country, you are in the right place.
From ASSAP, with pleasure, we will explain you the implications of being a passive resident in Andorra, which requirements must be satisfied and which health coverage is requested by the immigration department.
There is no doubt about it. Andorra is considered a leading country in terms of welcoming new residents.
As we have already mentioned, many of the people who are considering the Principality as a destination to establish their passive residence, settle in Andorra for the important tax concessions (mainly by the taxation on income from capital gains) offered by the country, but also by the high standard of living that exists in the Principality, with one of the highest life expectancies in the world, one of the lowest crime rates and an excellent access to basic goods and services, health care and education of high quality standards.
As we have mentioned at the beginning of this article, the passive residence in Andorra is the residence visa granted to those people who do not work in the Principality, but who reside a minimum of 90 days a year and can prove sufficient income to live in the country, without being dependent on a job. Among the different categories of passive residence, the most requested one is the non-profit passive residence (Category A). However, there’s also the Category B, reserved for people with international activities who do not make any profit from them locally and Category C, reserved for residents for scientific, cultural and sporting interests.
Below we present you the requirements to obtain the non-profit passive residence (Category A):
Regarding the authorization and renewal process, once the process is approved and the residency is validated, it is granted for a period of two years. The first renewal is for a two-year period, the second one for three years, and the subsequent ones for ten years.
As we have seen, one of the requirements for passive residence is to have health, disability and old age insurance coverage in Andorra. In this sense, at ASSAP we have the Passive Residents Insurance, a medical insurance with coverage in Andorra and the Spanish medical directory.
Refunding of all medical expenses in Andorra (CASS rate) + Spanish medical directory.
Coverage in case of total disability and a 5-year redeemable savings policy.
*Note: minors and those over 60 years of age will only need medical insurance.
Apart from health care for passive residents, we have a range of more than 50 insurance products, both personal and corporate, that can complement the needs of all passive residents (auto, home, investment, corporate, etc...).
Do you want to establish your residence in the Principality and need more information or personalised advice about our insurance services for tax residents? Ask for a free quote on our website.