Foreign investment in Andorra grew in 2019


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This article has been revised and updated in accordance with the latest amendments to Andorran regulations.Updated August 2023. Andorra is a country of benefits and opportunities. Besides the obvious economic,…

In July, the statistics department of the Andorran government will present its annual report on foreign investment and the conclusions drawn from it will be positive. In 2019, the volume of declared initial investment hit 337 million euros, representing growth of 88.1%. However, submitted requests decreased by 13%.

Positive foreign investment requests

584 applications for foreign investment were submitted to the administration, 541 of which were accepted. Even though this is 73 less requests than in 2018 (-11.8%), investments were higher and amounted to 227 million euros, representing an increase of 82%. This amount is ten times more than in 2013.

Applications for foreign investment are processed within a maximum of one month, and once formalised the companies have six months to make the requested investment. One of the reasons for denying a request is that it may be considered prejudicial to public order or the economy. Another reason could be a negative report from the committee responsible for money laundering prevention.

Country of origin and economic scope of the requests

The largest number of applications are focused on service activities, followed by assets and marketing and retail or wholesale. In contrast, requests for foreign investment in project design and research or portfolio investments are the least common.

In terms of origin, Spain, France and Andorra are the countries that submit the most applications, with Spanish investors representing almost 50% of the total.

Since the Law on Foreign Investment (10/2012) entered into force, Andorran companies can be held by foreign investors. At Advantia Assessors, we can help you create a company in Andorra and make the necessary arrangements with the public administration.