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The Benefits of Residency in Andorra

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Very few people know about Andorra, and the fact that it is a principality. This means that there is no income tax, and for this reason there are many Spanish/Catalan people who purchase property in Andorra, purely to qualify for the right to claim residency there, and thereby enjoying the benefit of not having to be subjected to income tax. Of course it is also much cheaper to buy things like cosmetics, alcohol, cigarettes etc, since there is a much lower VAT on these items.

Submitted on Aug 31, 2013 - Category: Expat Finance, Network: Andorra

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