This low tax hideaway has some advantages…
Andorra is somewhat off the beaten track and although it is no longer a pure tax haven since they introduced an income tax in 2015, it might still be interesting for some.
Andorra is situated in the Pyrenees between France and Spain, around 200km from Barcelona. It has a population of 76,000 inhabitants. The locals mostly speak Catalan, Spanish and French. English is now taught in the schools and becoming more common.
Andorra is a beautiful and peaceful place to live. Residents are mostly left alone by the small state.
It has 100% coverage of super-fast fibre broadband which might make up for its lack of an airport or connectivity with Europe’s rail system. The nearest airport is Barcelona, a 2-and-a-half-hour drive from the Principality.
For those seeking a quiet life and low tax rates amongst spectacular mountain scenery Andorra could be a perfect choice. There are a broad selection of conservative and safe banks in Andorra to store your wealth.
Andorra also boasts the lowest VAT rate in Europe at 4.5% for most purchases. It is certainly a haven for duty free shopping