Andorra

Andorra is a Pyrenean country between France and Spain, with around 90,000 residents. Its natural setting, quality of life and strong links to tourism and mountain sports underpin a strategy to diversify the economy and attract strategic investment. Alongside competitive taxation, the country is developing opportunities for innovative businesses and R&D projects in prioritised sectors.

Andorra prioritises activities linked to sport and sports technology, health and wellbeing, biotechnology, audiovisual production and digital technologies, among others. R&D and innovation are cross-cutting priorities. Companies active in these fields can assess whether the country offers relevant partners, infrastructure and support for their projects.

Yes. A foreign company may establish an Andorran subsidiary or develop a local activity while retaining its headquarters abroad, subject to the applicable authorisations and business requirements. The appropriate structure depends on the activity, staffing and investment plan.

Andorra has initiatives for real-world experimentation, including Andorra Living Lab, and regulatory sandbox frameworks for activities covered by specific rules. Its small scale can help bring together companies, institutions and local partners. Access to testing programmes is assessed case by case.

Eligible projects may access competitive grant programmes when calls are open. Andorra also provides a special tax regime for certain qualifying intangible assets (often referred to as a patent box), subject to legal conditions.

Foreign investors may own 100% of an Andorran company, subject to applicable foreign-investment authorisation. Minimum share capital is €3,000 for an SL and €60,000 for an SA; notary, registration and other costs are additional.

Andorra has residence and work routes for entrepreneurs and other professionals, each with its own conditions. Under certain self-employed investment routes, a €50,000 payment may apply. Specific exemptions may be available to eligible innovative, digital or high-value-added projects under the legal criteria. Being in a priority sector does not guarantee an exemption. Geolink and Andorra Business can help assess the applicable route.

Andorra uses the euro and has customs and monetary agreements with the EU. An Association Agreement was signed by the European members in October 2026, but its application depends on ratification and implementation by the Andorran government.