Andorra: The Tiny Underrated Tax Haven

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Summary of this video:

🏞️ Andorra's Appeal as a Tax Haven

Andorra's scenic beauty and advantageous tax system.
10% tax rate on income, previously zero, appealing for investors seeking tax optimization.
Passive residency option requires 90 days per year stay and investment in real estate.

🏔️ Advantages of Living in Andorra

Low VAT of 4.5%, providing significant savings compared to EU countries.
Access to quality educationand multilingual environment.
Friendly atmosphere for English speakers and opportunities to learn Spanish.

🕵️‍♂️ Surveillance and Government Intrusion

Extensive surveillance with cameras throughout the country, reminiscent of Singapore.
Government intrusion, including compulsory education and vaccination requirements.
Residency status dependent on neighbors' reports, potentially leading to cancellation.

🛑 Challenges and Legal Workarounds

Difficulty in meeting residency requirements, especially for those with children.
Legal loopholes such as keeping children in school to reduce required residency time.
Stringent citizenship requirements, including renunciation of other citizenships.

🍽️ Operational Challenges and Overall Impressions

Operational challenges, such as limited operating hours for businesses.
Overall impression: Enchantment with nature and people, but concerns about government control and limited activities.
Rating Andorra 8 out of 10, considering its attractions and drawbacks.

DISCLAIMER: This video is not tax and/or financial and/or investment advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research.