The number of passive residencies is on a rise, with 76 in the past 4 months
- Nov 11, 2014
- 1 min read
Andorra la Vella - Source "www.anaandorra.ad"
During the 13th Forum of Andorran Family Companies (Empresa Familiar Andorrana), the Justice and Interior Minister, Xavier Espot, highlighted the increase in passive residents in the past years. This increase has occurred despite the change in legislation whereby the financial investment has gone from having to make a 30.000 Euro deposit at the INAF to having to invest a total of 400.000 Euro.
In his speech, the Minister, mentioned the efforts made by the Government to establish legal and civil security in the country. He pointed out that civil security has been preserved and even strengthened as the number of criminal offences has gone down in recent years. As to legal security, Espot mentioned that during this legislature around 15 initiatives have been presented and that work has been done to guarantee that Legal decisions be within reasonable timescales.
The Minister linked the importance of security with the increase in passive residents in the Principality. Specifically mentioning that “many passive residents decide to come to Andorra for this reason”. He also pointed out that there has been an increase in passive residents with higher purchasing power. The amount of new residencies has been more than 300 in the past year and a half.
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