Even though Crear Empresa en Andorra may not be a part of the European Union, it uses the euro and has a special privilege within the EU. It is treated as an EU member state for raw materials exchange, but not for agricultural commodities.
In Andorra, the process for establishing a corporation is as follows:
- 1 -Request for a stock symbol reservation
It is important to request a stock symbol reservation from the Andorran administration. The name of your business must be written in Catalan.
- Incorporation of a Software Application
After the company logo has been accepted, you must apply to the government to register the company.
- Inscription in the Commercial Register
Regarding the government’s acceptance of your company’s formation, you must contact a notary always to have him write a government document about it, which he will enter and in Andorran Trade Register.
- Approval of an overseas investment proposal
The Andorran Government passed the 10/2012 Act on June 21, 2012, allowing foreign capital to own Andorran economies completely.
- Getting your business up and running
You will be able to start your business after all of the measures formally have been finally done.
Factors to remember before establishing your business in Andorra
- The “Societat Anonima” (SA) is equivalent to a Public Limited Company but has a capital requirement of €30,050.60. The capital will also be divided into shares according to the Articles of Association and articles of association.
- The “Societat Limitada” (SL), which is equivalent to a Limited Liability Company (LLC) – or a Single-Member Company if there is an only single associate – is designed for small companies. In the event of a capital increase or a sale of shares to third parties, LLCs are entitled to ten shareholders who have the first preference to purchase shares.
Andorra is Europe’s sixth youngest nation, so space is limited and costly. Just 8% of the land in Andorra is suitable for Create Company in Andorra. Oil reserves are also limited. Hydroelectric power, club soda, wood, iron ore, and lead are only a few examples.