Andorra - Company Incorporation
We are particularly well placed to use this low tax country, having catalan, spanish and french speaking staff to assist with the formation. The Societat Limitada has a share capital of €6010.
Basic points are:
| Tax | There are no corporate taxes whatsoever |
| Shareholders | A minimum of two shareholders are required and at least one shareholder must be of Andorran nationality owning a minimum of 67% of the company’s share capital. Non-Andorran's and non-residents can only own 33% of the share capital. Details of shareholders are kept at the local registry. An offshore company can be used to own 33% of the share capital. It is possible to arrange for an Andorran citizen to act in a nominee capacity for the ultimate owner of the company. |
| Company Officials | A minimum of two officers is required at all times. A President must be appointed who must be an individual of Andorran nationality. The second officer will act as Company Secretary, a requirement of law and in practice this person will also be of Andorran nationality. Details of officers must be retained at the registered office address and this information is available for public inspection. |
| Share Capital | The share capital must be fully paid up in advance of incorporation. This amount must be deposited with an Andorran bank in a designated company incorporation type account. The bank must then release a special certificate, addressed to the designated notary, responsible for concluding incorporation formalities. |
| Annual Accounting | Accounting information and books must be maintained at the company’s registered office, but these need not be audited or filed with local authorities. |
| Time to Start | A company name check can take up to five days and ready-made companies do not exist. After the share capital has been deposited in the manner mentioned above, it will take up to two months to incorporate the company. |
| Guidance on Names | Names must end with S.L. It is advisable that the chosen name be at least Catalan sounding. |