Friday, 10 February 2012

Tax Havens Welcomes New Business For 2012

Andorra la Vella
The tax haven of Andorra has just started to welcome new and establshed businesses to establish themselves in the Principality.

Up to now anyone wanting to start a business or relocate their exisiting one to the Principality had to have an Andorra partner - and for many entrepreneurs the thought of not being able to go it alone was understandably off-putting, especially when the new partner was become part of the company not through merit but because the law stated you had to have one.

It's all part of the country trying to attract inward investment.

The economy is tourism driven - by ski holidaymakers - and in the last three years the number of people taking winter holidays has fallen, and subsequently the Andorra economy has been hit.

Other changes are in the pipeline, including the qualifications for residency. Up to now it was pretty much a case of renting or buying an Andorra property and the government is currently looking at changing this.

More details are available at this Andorra blog

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