Andorra’s Parliament has approved today an immigration law that will radically transform the country’s demographic and economic profile. With this vote, the Principality marks the definitive end of its era as an easily accessible tax refuge, turning its residency-by-investment program—popularly known as the Golden Visa—into one of the most expensive and exclusive in Europe.
Until now, Andorra was seen by many as an accessible place to obtain residency with significant tax advantages. That perception is changing. The new legislation requires those interested in passive residency to invest a minimum of 1 million euros in Andorran assets, or at least €800,000 if they choose to purchase real estate, with the option of €400,000 through a housing fund.
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