Economic opening of the country: concrete and ambitious measures
Increasing the international visibility of Andorra, at all levels, and in particular with regard to its economy: this is how we could summarize, in a very schematic way, the new impetus given to the Principality by its leaders for ten years.
The Taula Marca Andorra
Public works (Government, Communes, Economic Commission of the General Council) and private (Andorran family business, Chamber of Commerce, Industry and Services, Confederation of Andorran Enterprises - CEA) multiply and coordinate their efforts to make the territory of more and more attractive for expats and entrepreneurs who want to settle in Andorra.
Witness of this impulse of the country, a table of public-private work - Taula Marca Andorra - was set up. It comprises two members of the various institutions named above and is responsible for designing appropriate communication mechanisms to enhance the image and attractiveness of Andorra, to analyze the needs of this new impetus and to consolidate the actions already put in place.
An ambition displayed in many areas
In parallel with the opening up of the country’s economy, the actions undertaken are also aimed at defining a new business model and tourism around winter activities and snow (remember that the Principality has the largest ski area in the Pyrenees), summer and mountain sports, the reception of researchers and top athletes, the hotel and catering industry and the development of new technologies.
On this last point, let us note the ACTUA initiative and its clusters integrating technology thought as a fundamental and central element of an ecosystem turned towards excellence and integrating education, university, professional training, education and training, research and development.
Expatriation and business creation in Andorra: an ideal living environment and many benefits
In order to establish the excellent foundations of a diversified economy and a communication gaining efficiency, the country can boast of having many assets:
- an incomparable and grandiose natural environment composed of magnificent landscapes,
- an exceptional quality of life,
- citizen security,
- undeniable tax competitiveness,
- the attraction of real estate, commercial and financial investments.
The economic opening process is also carried out in collaboration with neighboring countries (France, Spain) as well as with the support of the European Union. Agreements are regularly made between the different parties.
The keys to the success of expatriation and business creation in Andorra
Strengths of public and private initiatives, many parties are involved in the process of creation and growth of what could be called "the new brand of Andorra."
As a significant factor in this new image, but now very concrete, expatriation and business creation in Andorra are part of a strong axis that will become even more consolidated in the years to come.
Facilities for expatriation and business creation in Andorra
Since the mid-2000s and several laws voted from 2006 in the direction of expatriation and business creation in Andorra, the economic opening of the Principality represents a great challenge that the authorities of the country are striving for to rise by developing a concrete action plan based on:
- the competitiveness of organizations setting up on the territory,
- very flexible tax regulations and administrative conditions of installation,
- 100% liberalization of foreign investment.
This impetus is reflected in the fact by the massive arrival of new investors who maintain the commercial and economic dynamics thus initiated.
Many success stories
The development of services and infrastructures adapted to new needs brought about by new initiatives. As an illustration, the Smart Executive Centers project, which aims to provide the Principality with a business and office space modeled on the business centers present in cities and megacities around the world.
How not to mention also the action of the CEA (Business Confederation of Andorra)? Created in 2006, this organization represents entrepreneurs with public authorities (proposals for actions, signature of agreements, etc.) and it is today an essential link in the Andorran economy by actively participating in its growth.
The Andorran Business Confederation organizes each year the CEA Awards, which recognize innovations that contribute to the international reputation of the Principality. Various awards are given, at this ceremony, to local entrepreneurs, expatriates and entrepreneurs in Andorra, companies including the disability of people in their mode of operation, etc.
Finally, another example of the vitality of the Andorran territory and its openness to foreign countries, the recent inauguration of the new British College of the Principality, which meets the growing demand of expatriates in Andorra for the English school system. The educational offer is thus becoming more and more consistent in the Principality, a French school already present for French nationals wishing to register their offspring. What convince foreign entrepreneurs who want to start their business in Andorra that the conditions of home will also be ideal for their children!
Already promising results
In Andorra, the objectives of opening up businesses, increasing the volume of imports and exports, improving tourism services already of a very high quality, and pursuing real estate and architectural projects (construction, building) are well and truly launched.
Some figures already show a positive economic impact at the level of investment, among others, and also tourism. The strategy put in place seems to bear fruit and to create good promises. Continuing to attract new expatriate partners and entrepreneurs in Andorra is therefore always one of the main leitmoitivs of decision-makers in a country that is very attractive from an economic and financial point of view (low labor costs, very moderate taxation), but not only!