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The FIRE Exit
The Europe atlas
The Europe atlas

Andorra.

10% at the very most, but a million to get in.

Price it in your money

Tell me where you live now and what you spend a month, and every cost here becomes your number: the same life, priced country by country, in your own currency.

A guide, not a quote. I move your monthly spend by each country’s official price level (Eurostat and the World Bank, whole-economy, EU-27 = 100). No exchange rates, so it stays in your own currency. But averages hide rent and the city you pick, and changing country is rarely a straight swap. Read these as the right ballpark, then price the real thing.

Cost of living

Not in the Eurostat price series. Broadly mid-to-high, in the Spanish–French range, with Europe's lowest VAT (4.5%), though housing is tight and dear.

No wealth taxPassive-income visaGolden visa open

Where in Europe

The country, in one line
Verified 9 July 2026
Where it stands
Outside the EU. No airport of its own; entered through Schengen France or Spain. The euro, by agreement
The money
The euro
no FX risk on a euro budget
Language
Catalan
Capital
Andorra la Vella

High-mountain: snowy winters, fresh sunny summers.

How the money you live on is taxed

Andorra does not give every payment the same tax answer. Start with the asset or income source, then add the arrival-year and treaty rules.

The full income picture

These are the usual rules for a resident unless a case says otherwise. A new-resident rule, tax wrapper or treaty may change one case without changing the others.

Securities and funds

0% if holding less than 25% (else 10%)

A private listed-share or fund-unit gain is exempt when the holding stayed below 25% during the previous 12 months. A larger holding is exempt after 10 years. Sold sooner, the gain carries 10% tax in the savings base after the €3,000 allowance.

Listed shares
0% if holding less than 25% (else 10%)
A listed-share gain is exempt when the holding stayed at or below 25% during the previous 12 months. A larger holding is exempt after 10 years.
Fund and ETF units
0% if holding less than 25% (else 10%)
Units in collective investment undertakings follow the same participation test. A gain is exempt when the holding stayed at or below 25% during the previous 12 months.
Holding period and allowances
Exempt under the ordinary rule
Andorra's relief is participation-based, not a gradual discount. Under 25% is fully exempt with no minimum holding period, and over 25% becomes exempt at 10 years of ownership.
Losses
Different rules apply
The savings base integrates and offsets movable-capital income and capital gains/losses within the period. Losses on holdings whose gains would be exempt are also disregarded (the exemption covers 'guanys i perdues').
Foreign and US listings
0% if holding less than 25% (else 10%)
A foreign or US-listed holding follows the same participation test. A gain is exempt below 25%, or after 10 years for a larger holding.
Accumulating funds and annual tax
No annual deemed charge
Andorra has no annual deemed-distribution / advance-tax mechanism on an accumulating fund's fund income. For a directly held fund unit, income is recognised only on disposal.
Worth checking

The under-25% exemption has a separate carve-out for companies whose assets are at least 50% Andorran real estate. Check the current rule before using it for a property company.

Dividends

10% (savings base, after €3,000 allowance)

A dividend from an Andorran company is exempt for its resident shareholder. A foreign listed-share dividend carries 10% tax after the shared €3,000 savings allowance.

Andorran company dividend
0%
A dividend from an Andorran company is exempt after the company has paid Andorran company tax. No holding-period condition applies.
Foreign listed-share dividend
10% (savings base, after €3,000 allowance)
A foreign listed dividend is movable-capital income integrated in the savings base and taxed at the flat 10% after the €3,000 savings allowance. The exemption does not extend to foreign-company dividends. Check the treaty for source tax and Andorra's relief.
EU or EEA company dividend
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Third-country company dividend
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Passive or substantial holding
10% regardless of holding size (0% if Andorran company)
The rate line above gives the resident result. The rule is tested when the income is received.
Fund or ETF distribution
Different rules apply
A distribution from an Andorran collective-investment vehicle subject to Andorran corporate tax is exempt. A distribution from a foreign fund/ETF is a 10% savings dividend (after the €3,000 allowance).
New-resident treatment
No separate rule
Andorra has no separate non-domicile, remittance-basis or newcomer regime. Each tax resident is taxed on the same ordinary basis (foreign dividend 10%, Andorran dividend exempt).
Worth checking

Andorran and foreign dividends have different resident results. Tax taken abroad can exceed the 10% local bill, especially where no treaty reduces the source-country charge.

Crypto

10% (savings base, after €3,000 allowance)

A private crypto disposal carries 10% tax after the shared €3,000 savings allowance. The under-25% shareholding exemption does not extend to crypto.

Sale for money
10% (savings base, after €3,000 allowance)
A sale of crypto to euros is a capital gain integrated in the savings base and taxed at 10% after the €3,000 savings allowance. For this case, gain is transmission value less the euro-cost at acquisition.
Crypto-to-crypto exchange
10% (each swap is a disposal)
A crypto-to-crypto swap is a taxable disposal (change of ownership) that crystallises a gain or loss in euros. Andorra does not roll the basis over.
Spending crypto
10% (disposal at spend)
The rate line above gives the resident result. The rule is tested when the asset is sold or otherwise disposed of.
Holding relief and losses
10% (only the €3,000 savings allowance)
The rate line above gives the resident result. The rule is tested when the asset is sold or otherwise disposed of.
Staking and lending
10% (movable-capital income)
Recurring yield such as staking rewards or crypto-lending interest is movable-capital income in the savings base at 10% after the €3,000 allowance.
Mining, validation and airdrops
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Private investor or business
Savings 10% (passive) vs activity 10% plus social contributions (professional)
The passive investor is in the savings base (capital gains plus movable-capital income, 10%). Habitual, organised, business-scale trading is reclassified as an economic activity (business activity) in the general base.
New-resident treatment
No separate rule
Crypto is taxed on the ordinary basis for every resident (10% savings).
Worth checking

Crypto is taxed by general personal income tax principles and binding consultations (consultes vinculants) rather than a bespoke crypto tax. Treatment of a disputed conditional holding-reduction coefficient, of mining/airdrops, and of in-kind staking timing is still developing.

All 34 crypto rules, side by side

Pensions

Effective 0 or 5 or 10 (residence usually taxes)

A foreign private or occupational pension is ordinary income. The effective rate rises from 0% to 10% after the personal and earned-income allowances.

Andorra pension
Effective 0 or 5 or 10 (general base)
An Andorran-source pension is work-category income in the general base. The €24,000 exempt minimum plus the 50% earned-income allowance to €800 produce an effective 0% up to €24,000, about 5% from €24,000 to €40,000 and 10% above.
Foreign state or social-security pension
Effective 0 or 5 or 10 (subject to treaty)
A foreign state or social-security pension is included in worldwide income as work-category income at the effective 0/5/10 charge. Treaty allocation varies by the specific convention's pension/social-security article.
Foreign occupational or private pension
Effective 0 or 5 or 10 (residence usually taxes)
The rate line above gives the resident result. The rule is tested when the income is received. The treaty can change source-country tax and relief.
Foreign government or civil-service pension
Usually source-state only
A government/civil-service pension has its own treaty article: it is usually taxable only in the paying (source) state. This applies unless the recipient is an Andorran national and resident.
Foreign pension lump sum
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Special foreign-pension rule
No special regime
Andorra has no special foreign-pension or newcomer regime (no separate newcomer deal). The foreign pensioner simply pays the ordinary effective 0/5/10 charge on the pension in the general base.
Worth checking

Andorra has a small treaty network. A pension from a country without a treaty can retain source-country tax, with only the ordinary Andorran credit available.

If you own a company

10%

An Andorran company pays 10% company tax. A dividend to its resident owner is then exempt, leaving one ordinary 10% layer on distributed profit.

Company profit
Company tax 10% (general)
For this case, certain reduced/special regimes exist but the general rate is 10%.
Distribution from an Andorran company
0%
A distribution from the owner's Andorran-resident company (subject to Andorran corporate tax) is exempt in the individual's hands. Profit extracted as a dividend bears only the 10% corporate layer, nothing personal.
Distribution from a foreign company
10%
A distribution from a foreign company owned by the individual is a movable-capital dividend at 10% in the savings base (after the €3,000 allowance). Tax taken abroad can reduce the local bill. The exemption is unavailable to a foreign payer. Check the treaty for source tax and Andorra's relief.
Foreign entity type
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Ownership threshold
25% (for the capital-gain exemption test)
The rate line above gives the resident result. The rule is tested when the relevant tax event occurs.
Sale of your company stake
Different rules apply
The rate line above gives the resident result. The rule is tested when the asset is sold or otherwise disposed of.
Salary or director fee
Effective 0%, 5% or 10%, plus social contributions of about 22%
The rate line above gives the resident result. The rule is tested when the income is received.
Social contributions and remuneration risk
Social contributions self-employed about 22%
An active owner-manager is generally required to register and contribute to social contributions as self-employed (about 22% on a banded contribution base), whether or not profit is taken as salary.
Running the company from Andorra
Andorran company tax 10% if resident by management
The rate line above gives the resident result. The rule is tested each year.
Controlled foreign company rules
No general controlled foreign companies regime
Andorra has no general controlled-foreign-company regime. Automatic financial-account reporting does not itself attribute undistributed foreign-company profit to an individual holder.
New-resident treatment
No separate rule
The ordinary company tax 10% plus exempt-distribution stack applies to every resident owner.
Worth checking

The ordinary result is 10% company tax plus a 0% distribution. A foreign company run from Andorra can instead become resident there through effective management.

Review the company and your personal position together before the move.

Interest and cash

10% (after €3,000 savings allowance)

Interest is movable-capital income in the savings base. 10% flat after the €3,000 savings allowance.

Andorra bank or bond interest
10% (after €3,000 savings allowance)
Interest on Andorran accounts and bonds is movable-capital income in the savings base, taxed at 10% after the shared €3,000 savings allowance. Unlike dividends, interest from Andorran entities is not exempt.
Foreign bank or bond interest
10% (after €3,000 savings allowance)
Foreign interest is included in the savings base at 10% after the €3,000 allowance. Tax taken abroad can be credited up to the Andorran tax on that interest. Check the treaty for source tax and Andorra's relief.
Allowances and extra charges
Reduced rule
The rate line above gives the resident result. The rule is tested when the income is received.
New-resident treatment
No separate rule
The ordinary 10% savings treatment applies to every resident.

Rent

Effective 0%, 5% or 10% (general base)

Rental income is immovable-capital income in the general base. The €800 earned/immovable-income allowance and €24,000 exempt minimum apply, so the effective charge runs 0/5/10 topping at 10%.

Property in Andorra
Effective 0%, 5% or 10% (general base)
Rental income from Andorran property is immovable-capital income (property income) in the general base, benefiting from the €800 allowance and the €24,000 exempt minimum. The effective charge is 0/5/10 up to 10%.
Property abroad
Income-tax bands
Overseas rental income is included in Andorran worldwide income (general base, effective 0/5/10). Immovable property is normally taxable first in the state where it is situated. Check the treaty for source tax and Andorra's relief.
EU or EEA property branch
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Rental deductions
Reduced rule
Rental income is taxed net of related expenses, and the general base additionally benefits from the €800 allowance.
Worth checking

Andorran housing taxation is under active reform after the 2024 sustainable-growth and housing law. Recheck the rental calculation and implementing rules before using a precise net-rate example.

Property gains

Tapers to 0% after about 10 years

An Andorran property gain uses a separate charge that falls with the holding period and reaches 0% after about ten years. A short holding can add a surcharge.

Andorra main home
Tapers to 0% after about 10 years
This case is exempt when the stated conditions are met. The holding period, asset type or treaty can change that result.
Andorra investment or second property
Taxable under the ordinary rule
The rate line above gives the resident result. The rule is tested when the asset is sold or otherwise disposed of.
Foreign property
10% (personal income tax savings base)
A gain on foreign property is not within the Andorran plusvalua tax. It falls into personal income tax as a capital gain in the savings base at 10% after the €3,000 allowance. Check the treaty for source tax and Andorra's relief.
Foreign EU or EEA property branch
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Foreign third-country property branch
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Main-home conditions
Conditional (plusvalua tax)
This case is exempt when the stated conditions are met. The holding period, asset type or treaty can change that result.
Starting value after a move
Historic cost (no step-up)
For a foreign property taxed in personal income tax, acquisition value is historic documented cost. Andorra gives no market-value step-up on becoming resident.
New-resident treatment
No separate rule
A foreign property gain is the ordinary 10% personal income tax capital gain for every resident.
Worth checking

Andorran property-gains taxation is genuinely mid-reform. Foreign property gains (10% personal income tax) are the cleaner line.

Royalties

10% passive (active: general base)

Royalties carry tax at 10%: a passive licence receipt is movable-capital income in the savings base (after the €3,000 allowance). Active creation/exploitation of intellectual property is an economic activity in the general base (0/5/10 plus social contributions).

Andorra royalties
10% passive (active: general base)
The rate line above gives the resident result. The rule is tested when the income is received.
Foreign royalties
Taxable under the ordinary rule
Overseas royalties are included in Andorran income (savings 10% if passive, general base if an activity). The source state often withholds on royalties. Check the treaty for source tax and Andorra's relief.
Which rights qualify
No safe answer yet
No safe answer is shown for this exact case yet. Check the facts and treaty before relying on a result.
Passive or active
Savings 10% (passive) vs general base plus social contributions (active)
A passive licence receipt is savings income (10%). Actively creating and exploiting intellectual property as a trade is an economic activity in the general base (0/5/10 with the €800 allowance) with self-employed social contributions.
Social contributions and value-added tax
Special rule
The rate line above gives the resident result. The rule is tested when the income is received.

If you still work

Effective 0%, 5% or 10%, plus 6.5% employee social contributions

Employment and self-employment use the effective 0%, 5% or 10% income-tax scale, with separate social contributions. A director fee can fall under a separate treaty article.

Employment in Andorra
Effective 0%, 5% or 10%, plus 6.5% employee social contributions
Employment income for work performed in Andorra is work-category income in the general base. €24,000 exempt minimum, €800 allowance, 10% nominal.
Remote work for a foreign employer
Effective 0%, 5% or 10%, plus taxable-business-presence risk
The Andorran resident working remotely for a foreign employer is taxed on that employment income in the general base (effective 0/5/10) as worldwide income. The foreign employer risks creating an Andorran permanent establishment or a registration obligation.
Self-employment and consulting
Effective 0%, 5% or 10%, plus 22% social contributions
Self-employment is an economic activity in the general base at the effective 0/5/10 charge on net profit. The calculation also includes self-employed social contributions of 22% (10% general branch plus 12% pension branch) on a banded contribution base.
Director fees
Income-tax bands
For this case, director fees are work-category income in the general base at the effective 0/5/10 charge.
New-resident worker rule
No special regime
Andorra has no special inbound-worker/expatriate income-tax regime. The ordinary effective 0/5/10 already applies to everyone.

One layer stays off this page: the tax taken inside a fund before its dividend ever reaches you. Everything above is the tax after it.

The withholding guide explains that layer The Domicile Tax prices it on your pot

One term that matters in Andorra

IRPF

Andorra's personal income tax. It covers employment, pensions, investment income and gains through separate parts of the same return.

Your first tax year and starting values

Two dates matter: when your new country starts taxing you, and which value it uses to work out a later gain. Check both before you move.

When residence starts
Residence begins when a person spends more than 183 days in Andorra during the calendar year. It can also begin when Andorra is the main centre of economic activity or interests.
The arrival year
Andorra does not operate split-year residence. The tax period is the calendar year with accrual on 31 December, and the law does not shorten the period for a mid-year arrival.
Dual residence
If the country left behind still claims residence for the arrival year, only a treaty tie-breaker resolves dual residence. Andorra has treaties with only about 13 states.
Shares, funds, crypto, an owner-company stake and property
Original purchase cost

The original purchase cost continues after the move. A later taxable gain can therefore include growth from before residence began.

These answers carry dates because the rules move.

See what changed in the atlas changelog Look up a term in the glossary

Plain-language key
Withholding tax
Tax taken before the money reaches you, usually in the country where the payment comes from.
Tax credit
Tax already paid abroad can reduce the bill where you live. The reduction is usually capped at the local tax on that same income.
Original purchase cost
What you paid for the asset. A market-value reset replaces that figure with the asset's value when you move.
Income-tax bands
The income is added to your other taxable income. Higher total income can push part of it into a higher band.
Permanent establishment
A taxable business presence. Running a foreign company from your new home can create one even if the company remains registered abroad.

This gives you the starting rule, not your final bill. The country paying the money, your treaty, account, holding period, residence dates and activity can change the result.

The system around it

No wealth, inheritance or exit tax

No wealth tax, no inheritance or gift tax, and no exit tax on leaving.

The catch is the door

The tax is easy; the entry is not, and it got steeper in 2026. Non-working residency now needs €1,000,000 placed in Andorran assets (or €400,000 into the country's housing fund), plus a €50,000 fee that is no longer refundable, and ninety days a year on the ground. Andorra isn't in the EU or EEA, so there's no free movement; you come in through its own quotas.

Resident is not tax-resident

One subtlety worth planning around: the ninety-day permit makes you a resident, but not automatically a tax resident. Capturing the 10%, and ending your tax residency back home, usually means more days than that and shifting the centre of your life here.

Inheritance & gifts

None at all: no inheritance or gift tax; gratuitous acquisitions sit outside the income tax entirely.

Worth watching

Andorra publishes its tax law but sits outside the PwC summaries and the Eurostat cost series, so treat the specifics as needing local confirmation. The residency figures jumped through 2025–26; confirm the current thresholds, and that your own fund qualifies for the exemption, before you act.

Entry rules
Your passport

Can you actually move here?

With your passport, skip the doors: the clocks and the tax-residency rules are what matter for you.

No EU passport means one of the doors on the left: each checked against the authority that issues it.

The route in
Residència passiva

income above 300% of the minimum wage, plus the investment (Law 2/2026, in force February 2026)

Golden visa
Open

The passive residence IS the golden visa, and it roughly tripled in price in February 2026, with new permits capped at 163 a year, granted in strict filing order.

The passport
20 yrs

permanent residency at 7 yrs · no dual, generally · Catalan + civics exams (tightened May 2026)

When you become tax-resident
183 days, or your main economic centre here; the permit's own bar is only 90 days

Andorra's door is money, openly priced, and repricing fast: February 2026 roughly tripled the entry (a million euros in, or €400,000 to the housing fund, plus €50,000 you don't get back) and capped new passive permits at 163 a year. The passport is close to unreachable: twenty years, Catalan exams, and no dual citizenship, ever.

Keeping the permit: 90 days a year keeps the permit, but tax residency takes 183

Worth watching

Everything moved in 2026: the entry price (February), the yearly quota (March), the nationality law (May). Re-verify every figure before filing.

Check it yourself: e-Tràmits: passive residence · Andorra legal portal: tax residence (Law 5/2014)

Getting-in rules checked July 2026. They move faster than tax law: confirm the current rule with the authority before you plan a move around it. Education, not immigration advice.

Health

The social-security health system (CASS) runs on work: passive residents sit outside it and live on private cover.

Private cover: the permit itself requires insurance covering illness, incapacity and old age, valid in Andorra, for you and your dependents.

Healthcare access checked July 2026. Systems are stable but details shift: confirm before you rely on them. Education, not health-insurance advice.

Your pension, the official number

This country’s official, free place to check where your pension stands: Simulador de pensió (CASS) .

What it’s worth to an early exit: The Pension Bridge

Common questions

Does Andorra have a wealth, inheritance or exit tax?
No: there's no wealth tax, no inheritance or gift tax, and no exit tax on leaving. Property is the exception, since Andorran real-estate gains carry their own separate tax.
What does it take to get residency and tax residency in Andorra?
The tax is easy but the entry is not, and it got steeper in 2026: non-working residency now needs €1,000,000 placed in Andorran assets (or €400,000 into the country's housing fund), plus a non-refundable €50,000 fee and ninety days a year on the ground. That ninety-day permit makes you a resident but not automatically a tax resident, so capturing the 10% usually means more days than that; confirm the current thresholds before acting.
How does Andorra tax a foreign listed-share dividend?
A dividend from an Andorran company is exempt for its resident shareholder. A foreign listed-share dividend carries 10% tax after the shared €3,000 savings allowance.
Can an American or a Brit retire early in Andorra?
Yes. The door is Residència passiva: residence without work: invest at least €1,000,000 in Andorran assets (€400,000 if into the public housing fund), plus a €50,000 non-refundable state payment. The bar is income above 300% of the minimum wage, plus the investment (Law 2/2026, in force February 2026). Rules like these move. Confirm with the immigration authority before planning around them.
How long until a Andorra passport?
20 years of legal residence is the general naturalisation rule, with Catalan + civics exams (tightened May 2026). Dual citizenship is generally not allowed. Permanent residency usually comes at 7 years.

Run your own numbers.

The Exit Calculator

Years to your number, at your savings rate.

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Where You Live

What an annual wealth tax does to the maths, deliberately simplified.

Open

The Geoarbitrage Map

The same life, priced across 58 countries.

Open
The brokers

None of the nine brokers on the broker guide advertises accounts here. The guide still shows what to check in a local one.

The broker guide: all nine, and your bank

The whole system (wrappers, funds, withdrawal, the blank page) is in the guide: The European FIRE guide

None of this is tax or investment advice: it's education, kept deliberately at the level that survives fact-checking. Rules shift with every budget round; the specifics of your situation belong with a licensed adviser in your country. I'm happily not one.

This page was last verified against official sources on 9 July 2026. What's changed on the map

Sources: check it yourself
Income and cross-border tax (8)

Open the sources behind each topic

Keep it honest

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Report a correction

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