The Andorra Golden Visa is the informal name used internationally for Andorra’s passive residency permit (residència passiva), a residence-by-investment program that allows individuals to live in the Principality without engaging in local employment. In this guide we will refer to it interchangeably as the Andorra Golden Visa and passive residency.

Officially, this permit is called non-lucrative or “passive” residency (“residència passiva” in Catalan) to distinguish it from the country’s most common permit: active residency. While active residency is the entry point for those who move to Andorra for employment (either as employees or self-employed), the Andorra Golden Visa involves fewer days of required presence and is designed for individuals who live from passive income or income earned outside Andorra.

The Andorra Golden Visa requires a significant investment. Following the approval of the Llei de continuïtat i consolidació de les mesures per al creixement sostenible (commonly known as Omnibus 2) by the Consell General on January 22, 2026, the minimum investment has increased to €1,000,000 in Andorran assets, which we will detail further on.

Below is a comprehensive guide to the Andorra Golden Visa, covering its requirements, investment options, tax implications, and principal characteristics.

Who can benefit from the Andorra Golden Visa?

The Andorra Golden Visa (passive residency) may be granted in the following contexts:

• Due to scientific, cultural, or athletic interests (it has been used by numerous MotoGP professionals and elite athletes).
• For professionals and entrepreneurs undertaking international ventures (major entrepreneurs conducting business overseas).
• For investment in Andorra.

The most popular route is the third one: residence through investment. This is the focus of this guide.

This option targets individuals wishing to settle in Andorra without taking on local employment, supporting themselves mainly through passive income streams. This makes the Andorra Golden Visa ideal for retirees and HNWIs (High-Net-Worth Individuals) who rely on rental income, investment returns, bank interest, and other externally generated revenue.

In short, if you have substantial financial resources and are considering residence in Andorra without working for a local company, the Golden Visa is likely the most fitting pathway.

The phrase “without an employment relationship” is crucial: while this residence permit provides various benefits, it is fully incompatible with local employment. If you obtained the Andorra Golden Visa and later received an irresistible job offer from an Andorran company, you would need to terminate your passive residency and apply for active residency instead.

That said, in certain cases Golden Visa holders may receive payment for activities performed outside Andorra or for serving as a director of an Andorran company, although each scenario requires careful individual assessment.

Advantages of the Andorra Golden Visa

Despite its higher entry requirements (the program is aimed at individuals with significant capital), the Andorra Golden Visa offers several compelling advantages:

Accessible to non-EU nationals

Andorra enforces strict immigration rules, with some advantages for Spanish, French, and Portuguese nationals but stringent regulations for many other nationalities. However, the Golden Visa provides straightforward authorization to reside in the Principality regardless of nationality, making it especially popular with citizens from countries such as Mexico, Argentina, Uruguay, the UAE, Russia, and others.

This permit also grants the ability to travel freely within Spain, France, and Portugal, regardless of your passport.

Fewer administrative controls

The Andorra Golden Visa is subject to fewer stringent checks than active self-employed residency. Generally, the Andorran authorities do not engage in thorough surveillance to verify you have spent the required 90 days in the country, though compliance is expected at each renewal.

Relatively fast processing

While the Andorran administration is not the fastest, obtaining the Golden Visa is a moderately quick process. From the day the application is submitted, the permit is typically issued within two to three months.

Andorra’s favourable tax system

As we will explain in more detail below, administrative residency (the permit acquired through the Golden Visa) does not automatically qualify you as a tax resident of Andorra. However, if you meet the applicable conditions for tax residency, you will benefit from one of the most favourable tax systems in Europe, with low or negligible rates on capital gains, interest, dividends, and more.

Low minimum yearly stay

The Andorra Golden Visa requires only 90 days of presence per year, making it extremely practical for frequent travellers. This compares favourably with the 183-day requirement for active (self-employed) residency.

Note that 90 days is the minimum to maintain your administrative residency. For tax residency purposes, spending at least 183 days in Andorra is generally required.

Andorra Golden Visa requirements (2026)

Following the Omnibus 2 law approved in January 2026, these are the updated requirements for the Andorra Golden Visa (passive residency by investment):

• Investment of at least €1,000,000 in qualifying Andorran assets (real estate, financial products, company shares, government debt, or life insurance). If the investment is in real estate, the property must have a minimum value of €800,000.
• Non-refundable payment of €50,000 to the AFA (Andorran Financial Authority). Unlike the previous system where this deposit was refundable upon leaving the country, this payment is now definitive and non-refundable (unless the initial application is denied).
• Non-refundable payment of €12,000 per dependent (spouse and each child) to the AFA. This amount is also non-refundable.
• Minimum in-country stay of 90 days per year.
• Proof of income exceeding 300% of the Andorran minimum wage, plus an additional 100% for each dependent.
• Private health insurance contracted in Andorra (passive residents are not covered by CASS, the public healthcare system).
• A property in Andorra (owned or rented).
• A police clearance certificate.
• A medical certificate issued in Andorra.

In total, the Andorra Golden Visa requires an investment of €1,000,000 (which includes the AFA payment, as it is deducted from the total), along with evidence that you are financially self-sufficient.

The investment amount: how it works

The Omnibus 2 law sets the total qualifying investment at €1,000,000. This amount can be allocated across any of the following asset categories:

• Real estate situated in Andorran territory (minimum value €800,000 per property)
• Shares or equity in Andorran-registered companies
• Debt or financial instruments issued by Andorran entities
• Government debt securities issued by the Principality of Andorra
• Life insurance contracts with Andorran-resident insurers
• Non-refundable payments held at the Andorran Financial Authority (AFA)

The €50,000 AFA payment (plus €12,000 per dependent) counts towards the €1,000,000 total. For example, if you are relocating alone, your AFA payment is €50,000, leaving €950,000 to be invested in other qualifying assets. If you are moving with a spouse and two children, your AFA payments total €86,000 (€50,000 + 3 × €12,000), leaving €914,000 for investment.

Important: the AFA payments are non-refundable. Under the previous law, the deposit at the AFA was returned when the resident left Andorra or changed their residency type. Under the Omnibus 2 law, these payments are definitive. The funds are not returned, except in the case where the initial immigration application is denied.

The investment must be maintained for the entire duration of the residency. If you sell a qualifying asset, you must reinvest in another qualifying asset to continue meeting the requirement.

The real estate option

Although there are multiple investment options, the reality is that most individuals pursuing the Andorra Golden Visa do so through real estate acquisition.

Under the new rules, if you choose the real estate route, the property must have a minimum value of €800,000. This represents a significant increase from the previous €600,000 threshold and reflects both rising property prices and the government’s intention to attract higher-net-worth investors.

Even though real estate prices in Andorra have increased substantially in recent years (now comparable to cities like Barcelona or Madrid), Golden Visa applicants from the U.S., the U.K., Norway, the UAE, or Monaco often find local prices competitive compared to their home markets.

Administrative residency vs. tax residency

Some advisors misrepresent the Andorra Golden Visa and its 90-day requirement as a simple solution to drastically lower one’s taxes while continuing to live in another country. This is misleading, and it is important to understand the distinction:

• Administrative residency: the immigration authorization (through the Golden Visa) that grants legal permission to reside in Andorra. The minimum stay requirement is 90 days per year.
• Tax residency: the obligation (and, in Andorra’s case, privilege) to file taxes in the country. This generally requires remaining in Andorra for at least 183 days per year and establishing your primary economic and family ties in the Principality.

For Andorran authorities, brief absences do not necessarily deduct from your in-country day count, particularly if there are no substantial ties indicating your centre of interests lies elsewhere. However, we always recommend spending at least 183 days in Andorra if you wish to be considered tax resident and want to avoid scrutiny from other jurisdictions.

The tax authorities of your country of origin (especially Spain, France, and the UK) may challenge your Andorran tax residency if they believe your economic or personal ties remain primarily in their jurisdiction.

What taxes would I pay with the Andorra Golden Visa?

If you become an Andorran tax resident through the Golden Visa, you benefit from one of the lowest tax burdens in Europe:

Income tax

Andorra’s personal income tax applies to earned income (whether from abroad or from a position as director of an Andorran company), along with rental revenue:

• Annual income up to €24,000: tax-free.
• Income between €24,000 and €40,000: 5%.
• Income above €40,000: 10%.

For example, with an annual income of €70,000:

• The first €24,000 is exempt (€0 in tax).
• €24,000 to €40,000 is taxed at 5% (€800).
• €40,000 to €70,000 is taxed at 10% (€3,000).

Total tax: €3,800 on €70,000 in income. To estimate your own tax bill, try our tax calculator.

Capital gains

Capital gains in Andorra depend on ownership percentage and holding period:

• Ownership at or below 25%: fully exempt.
• Ownership above 25%: taxed at 10%.
• If held for more than 10 years: fully exempt, regardless of ownership percentage.

In practice, if you hold a small stake in publicly traded companies (such as Apple or Tesla), your capital gains on selling those shares are completely tax-free in Andorra.

For real estate, capital gains start at 15% if sold within the first year and decrease progressively. After 12 years of ownership, no tax is imposed.

Dividends and other investment income

• Dividends from Andorran companies: fully tax-free.
• Dividends from foreign companies: taxed at 10%.
• Interest from bonds and bank deposits: taxed at 10%.
• Cryptocurrency gains: taxed at 10%.
• Derivatives (futures, options): taxed at 10%.

Thinking about obtaining the Andorra Golden Visa?

If you are considering relocating to Andorra through the Golden Visa, we recommend downloading the “Definitive Guide to Living in Andorra”, which contains the most comprehensive information on Andorran taxes, residency, and way of life.

You can also explore our guides on Andorra residency requirements, setting up a company in Andorra, and Andorra’s corporate tax system.

For personalised advice, contact our team. We specialise in helping high-net-worth individuals navigate the Golden Visa process from start to finish.

Sources

• • Consell General: Aprovació de la Llei de continuïtat i consolidació (22 January 2026)
  • Llei 5/2014 de l’Impost sobre la Renda de les Persones Físiques
  • Llei 3/2024: Impost sobre la Inversió Estrangera Immobiliària
  • Llei 9/2012: Llei qualificada d’immigració (text consolidat)
  • Autoritat Financera Andorrana (AFA)