Property of the Month - March 2014
'The Perfect Property' is an overused term in real estate parlance, but for anyone considering residency in Andorra who wants beautiful views in a quiet area but still close to town -perhaps this could be it.
With three bedrooms and two bathrooms in excellent decorative order, and located in La Massana the asking price of 319,000 Euros is good.
For more details and photographs let us know where to send them on the property and residency guide request above.
We have another twenty nine houses and apartments for sale we can send you with up to date prices which you won't see anywhere else.
A Complete Residency Service
As well as offering a first class service when you visit we have a UK office and can meet clients before they visit, so they can have any questions answered, their residency application papers and bank account details ready and be fully informed.
Many of our clients are referred to us by recommendation from those who have bought real estate and personally experienced our friendly helpful advice and professionalism.
Others have seen Tribune quoted as a source in the media, just recently in the New York Times plus the financial media (we were the only property experts who offer Andorra to be invited to show real estate on the flagship BBC financial series The Money Programme when they reported on the available European tax havens).
Our years of successful experience benefits YOU. We are able to help you before, during and after applying for residency.
Reviews And News
The Irish News has visited Andorra and regards Soldeu as an excellent destination for skiing.
To read what they have to say visit Skiing's Best Kept Secret
ElectroSnow - the winter equivalent of Ibiza some claim - is to take place this year 28th and 29th March.
Meanwhile Andbanc has opened a full service branch in the Bahamas - details can be read at The Bahamas Weekly
Long Term Economic Security
One of the world's leading credit agencies has given a vote of confidence for the country's economic future.
It's welcome news for the country as it undergoes a transformation from one of Europe's leading tax havens into a low tax jurisdiction, and has opened it's borders to international investment from both companies and individuals.
Until recently it was a leading European tax haven, attracting those wishing to live in a no tax environment from as far away as Australia, Canada and South America, with the majority of newcomers arriving from the UK, Ireland, France, Spain, Belgium and the Netherlands.
But to comply with what other - bigger - countries would like to see Andorra has for the first time introduced tax, and opened up her borders to allow foreign companies to set up shop.
Aside from financial services the country is effectively allowing free trade for the first time in modern history - and giving up her previous protectionist policy.
The statement from Fitch is a vote of confidence in what the country has undergone recently, and going into the future will enable investors in Andorra real estate and commercial business to make an informed judgement.
The Latest News
Tax Haven Andorra Back In Favour
Andorra has been a favoured European tax haven for many over the last thirty years, but over the last two years the number of property sales and people taking residency declined dramatically.
With taxes rising across Europe recently and more likely to come in the near future, it would appear on the surface to be an odd state of affairs that a previously popular tax haven has seen a drop in interest.
But the fall in popularity was due to an eighteen month period while the country's Parliament decided on how to ensure a favourable tax climate for the future, with one eye on those who make the move and the other on governments who might have considered residency criteria for new entrants just too easy and tempting to fulfill for their citizens who wanted to legally reduce their tax bill in future years.
Before the recent changes were introduced gaining residency was indeed a very straightforward affair, and inexpensive.
A property could be rented and a 30,000 returnable non interest bearing deposit be paid into a government account, and as long as police certificates from a home country could be produced along with some basic documents such as a birth certificate, residency would be granted. A cheap and effective way of living in a European country with no income tax.
After the changes, new rules mean that if someone wants to rent to gain residency they will also have to buy 400,000 Euros of Government Bonds, or make a similar investment in the country.
Or they can buy a house or apartment to the value of 350,000 Euros and a deposit to the government of 50,000 - so either way the new minimum investment in the country either via real estate or bonds or investment is a minimum of 400,000.
And it this which is currently driving the Andorra property market, with the most popular choice being two and three bedrooms between 350,000 and 450,000 Euros, but also a good number of houses changing hands again since the new rules took effect last year.
The level of activity in the housing market isn't far off the levels seen in the run up to the banking crises in 2008, according to Tribune Properties who have been selling Andorra property and providing a residency service there since 1997.
And they think that prices could be on the rise again soon, with taxes rising across Europe and the allure of a low tax environment becoming more tempting to the financially aware.
For those that do decide upon Andorra, the minimum number of days they need to live there is 90 a year, but many choose to stay there year round.
There's a real sense of community among the expats, and there is a good International Club with weekly meetings where newcomers can meet those who have lived in Andorra for a while.
Another attraction is the virtual absence of serious crime in the Principality, along with very low levels of petty crime such as vandalism, car theft, shoplifting and graffiti.
For those with children there is a choice of schooling - either privately through the International School which is located in La Massana - or through the State system where the education is free.
Sport and leisure is well catered for, with each of Andorra's seven parishes having first class leisure centres with some incorporating Olympic size swimming pools, and there are numerous spas to choose from as well.
There is has an international football team who famously caused England some embarassment in 2007, for despite being one of the lowest ranked countries in the world held England at 0-0 for the first half of a competitive international match, although England ran out eventual winners 3-0. Andorra also have an international rugby team who fare a little better, but the country is most famous for her winter sports and is a popular destination between mid December and Easter for skiers.
With a population of 85,000 Andorra is small but has plenty going on for her citizens and residents, but the tax advantages along with France and Spain both being easily accessible makes it once again a sought after European tax haven.