The 5 Most Exclusive Residency Programs in Europe
March 26, 2025
Strict policies, annual quotas, and high financial demands make these residency options the hardest to secure in Europe.
Andorra Residence Without Lucrative Activity
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Program Type:
Residence by Investment
Processing Time:
2-4 months
Citizenship Timeline:
20 years
Permanent Residency Timeline:
7 years
Physical Presence Required:
90 days a year
Citizenship Visa-Free Access:
168 countries
Minimum Contribution:
€600,000
Contribution Options:
Bond Investment, Business Investment, Property Investment, Securities Investment
On This Page
Program Overview
Andorra Residence Without Lucrative Activity
A low-tax, safe, peaceful, and tiny country, Andorra straddles the Pyrenees mountains on the border between France and Spain.
The Residence Without Lucrative Activity visa is popular among French and Spanish HNWIs because of its limited physical presence requirements, flexible investment options, and – naturally – proximity to two of Europe’s largest economies.
Though Andorra is not part of the EU, the official currency is the Euro and holders of residence permits in the country are afforded visa-free travel (though not settlement) throughout the Schengen area.
Andorra Residence Without Lucrative Activity
How to Qualify
There are multiple investment options for the Residence without Lucrative Activity in Andorra. Total investment must amount to no less than €600,000.
Regardless of the investment type chosen, all applicants must deposit €48,500 cash in the Andorra Institute of Finance (AFA) and an additional €10,000 per dependent included in the application. These amounts are returned when residency is relinquished or the applicant becomes a citizen. The remaining balance of the €600,000 may be invested in:
- Investment accounts with Andorran banks
- Shares in Andorran companies
- Other investments in the Andorran property market
- Public company bonds
- Further deposits with the Autoritat Financera Andorrana (AFA)
The applicant needs to prove 300% of the annual minimum wage from revenue from sources outside of Andorra, as well as an additional 100% of the minimum wage for each dependent. The Andorran minimum annual salary is €13,460. For a family of three, for example, annual revenue from foreign sources would then need to be equivalent to 500% of the minimum wage, i.e., €67,300.
Andorra Residence Without Lucrative Activity
Salient Benefits
- Freedom of movement (but not settlement) within Schengen
- Path to citizenship
- Minimal physical presence requirements
- Lower taxes
- Safety and security
- Enhanced education opportunities
- Enhanced business access to large economies
- Short processing time
Andorra Residence Without Lucrative Activity
Citizenship Timeline and Requirements
The applicant will have 6 months to make the initial investment after being approved for residency and will need to undergo a medical exam before being able to collect the residency permit.
The initial permit is for a 2-year period, which can be renewed for another 2 years, and then 3 years after that. After completing 7 years of residency, the applicant can apply for a 10 year permanent residency permit. An application for citizenship would require being a permanent resident physically present in Andorra for a minimum of 10 years. In most cases, the process for citizenship takes up to 20 years.
Before applying for citizenship, an applicant must pass an exam in Catalan language, geography and the history of Andorra. Dual citizenship is not permitted in Andorra. Applicants need to prove they have renounced their previous citizenship within 5 years of obtaining Andorran citizenship.
Browse 195 countries’ paths to citizenship in the hyper-detailed IMI Citizenship Catalog.
Andorra Residence Without Lucrative Activity
Program Authority and Legal Basis
Applications for this program may be directed to Ministry of Justice and Interior/Immigration Department.
Legislation upon which this program is based Immigration Act qualified, and Law 16/2013, of 10.
Andorra Residence Without Lucrative Activity
IMI Pros Who Can Help You
Andorra Residence Without Lucrative Activity
Qualifying Real Estate
As noted in the program qualifications above, an investor can qualify for this program with a local property purchase above the minimum investment threshold. View eligible properties curated by IMI and our real estate partners:
Andorra Residence Without Lucrative Activity
Recent Stories About This Destination
Unsung IM Programs Part 1: Andorra Residence Without Lucrative Activity
December 27, 2021
In this first installment of a new series about less-known investment migration programs, Ahmad Abbas evaluates Andorra’s golden visa.
Andorra Story Update: UK Firm Apologizes, Removes Fake CIP Following IMI-Article
July 3, 2018
Several prominent RCBI firms contacted IMI last week, warning that emails promoting three nonexistent CIPs had led to many client inquiries.
Andorra Residence Without Lucrative Activity
Program Statistics
See more statistics on this program and others in the IMI Data Center.