News Andorra

The arrival of new residents in Andorra has led to a significant rise in the rents and sale prices of Andorran real estate. The Government is preparing amendments to the Immigration Law in order to regulate the entry of new residents, such as the increase in the bond / security deposit required to apply for active or passive residency in Andorra.

Like other countries, Andorra incorporates a direct tourist tax that is applied to stays in tourist accommodation. The tax is payable per person and per night, up to a maximum of 7 nights in the same accommodation. The proceeds will be invested in boosting and promoting tourism in the Principality.

Andorra announces a further increase in the minimum wage in 2022, reaching €1200 gross per month. This is part of a package of measures to improve the purchasing power of the population.

Andorra is preparing for a tax reform that will bring it closer to international standardisation and economic stability without sacrificing its competitiveness vis-à-vis other jurisdictions. The reform is expected to come into force from 2023, so that the first settlements will be made in 2024.

The population of Andorra has grown by 1.9%, reaching 79,535 inhabitants. This is revealed in the report presented by the Govern d’Andorra on 17 January 2022.

The minimum interprofessional wage in Andorra for 2022 increases with respect to the previous year, standing at 1157.87 euros per month. This represents an increase of 3.2% with respect to 2021.