In this video we will cover how freelance IT, social media specialists & You Tubers can set up a business in Andorra. First, we touch on the benefits for these activities to be run out of Andorra. Then, we then cover the legal entity solutions to set up and start trading as a business in Andorra.
Andorra attracts those want to establish their operations in a European low tax jurisdiction.
The principality has fast fibre optic internet connections, easy access to marketing hubs like Barcelona, and high quality of life with low fixed living costs.
The country’s mountain scenery makes it an ideal setting for acquiring breath-taking images and scenes for YouTube and other social media channels, There is great scenery literally on the doorstep for all four seasons of the year.
Andorra presently only allows specific professions to operate as “pure freelancers”. These are your typical ‘old school professions’ like doctors, scientists and architects.
However, for YouTubers, IT and social media specialists it is best to set up a company.
Setting up a company formalises the business activity under a legally established entity.
Companies in Andorra only pay a maximum of 10% corporate tax. Dividends to resident shareholders are exempted from income tax.
There are 5 main requirements to set up a company
You must
1. Present a business plan and forecast of estimated turnover
2. Provide clean criminal / police records from the country of birth / current residence for all shareholders with over 10% participation
3. Have 3000 EUR in capital is needed to set up a Sociedad limitada company that is the equivalent of a limited liability company
or 60.000 EUR in capital is needed for a Sociedad Anónima. This is the equivalent of a British public limited company (PLC) or an American corporation
4. Pass compliance process with local banks (provide tax declarations, origin of funds etc.)
5. Have a minimum two face-to-face visits during the incorporation process.
These are to a notary, and a bank introduction meeting.
We understand that most cases are unique for setting up as freelance IT, social media specialist or You Tubers in Andorra. If you would like to ask us questions please contact us. To find out about setting up a company though active residency we have left a link in the description read more about the requirements here: [ Ссылка ]
Read more about IT freelancers and YouTubers living in Andorra here
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