Investing in real estate in Andorra: buying a property
Do you want to invest in real estate in Andorra? Molines Patrimonis is at your disposal to help you. We will inform you about the types of properties available, the documents, conditions and procedures necessary to invest in the Principality of Andorra and the advantages it entails.
Why invest in the real estate sector in Andorra?
Documents required to buy a property
A continuació, els presentem les condicions i els documents imprescindibles per poder realitzar la compra d’un bé immoble a Andorra.
Autorització del Govern andorrà per adquirir un bé immobiliari
Per poder invertir en un bé immoble a Andorra és imprescindible obtenir una autorització d’inversió de part del Govern andorrà.
Sigui quin sigui el seu projecte, aquesta valuosa autorització és el pas previ per poder invertir al país.
Aquesta autorització li permet invertir en qualsevol de les set parròquies del Principat: Ordino, La Massana, Canillo, Encamp, Escaldes-Engordany, Sant Julià de Lòria i la capital, Andorra la Vella. Podrà escollir entre una gran selecció de béns immobles:
- Apartaments
- Xalets
- Aparcaments
- Locals comercials
- Terrenys
Altres condicions i documents necessaris
A banda de l’autorització prèvia, per tal de poder realitzar la seva inversió al Principat d’Andorra cal complir un seguit de requisits i presentar diversos documents.
- Ser major d’edat (mínim 18 anys)
- No tenir antecedents penals i aportar-ne la prova
- Invertir 400 000€
- Dipositar una fiança de 30 000€ i 7 000€ per cada membre de la família
- Demostrar que disposa dels recursos financers necessaris, és a dir, com a mínim unes rendes 4 vegades superiors a la mitjana del salari del país
- Residir més de 90 dies a l’any al país
- Passaport i certificat d’estat civil
- Originals dels contractes de compra o de lloguer d’habitatge
- Qualsevol document que certifiqui una invalidesa, la jubilació o una malaltia
- Certificat mèdic (per un metge andorrà)
- Títol de propietat o aval bancari per justificar que pot cobrir les seves necessitats
Compte! A Andorra, tots els justificants provinents de països estrangers han de dur la postil.la de la Haia.
Procedures to carry out your investment in the Principality
To invest in real estate in Andorra, once you have gathered all the necessary documents, you must carry out a series of procedures that can be divided into four main stages that we detail below.
Buying a house or apartment in the Principality
The purchase process, once the authorizations have been approved, lasts approximately between one and a half and two months. We summarize the four key stages to formalize your acquisition:
- Signing of the property reservation contract between the buyer and the seller. The buyer pays a deposit that validates the purchase option. The seller withdraws the property from the market for a certain period;
- Preparation and management of the deed of sale: activation of the sales process by one of the 4 Andorran notaries, drafting of a contract and preparation for the signing of the deed;
- Signing of the deed of sale by both parties, in the presence of the notary. The buyer pays the remaining balance and takes possession of the property;
- Deposit of the deed of sale by the notary.
In the Principality of Andorra, foreign investors can invest in real estate such as houses, apartments, villas, parking lots… Since 2012, the laws on the acquisition of real estate have become more flexible for both residents and non-residents.
Notary fees and other applicable fees
List of notaries in the Principality
In Andorra, the notary is the only person authorized to register purchase and sale transactions.
Expenses for acquiring real estate
Since 2012, thanks to its flexible tax system and economic openness, the Principality has been the perfect choice if you are thinking of investing in the real estate sector. Here is a breakdown of notary fees and those related to the acquisition:
- Andorran law sets notary fees at 1% of the property’s sales price;
- The ITP (Property Transfer Tax) is levied at a rate of 4% on the total value of the acquisition of the property. It is paid before an Andorran notary during the signing of the deed of sale with a bank check issued in the name of the Andorran government;
- The seller is responsible for the agency’s fees, which are generally between 5 and 10% of the sales price;
- The buyer must pay the sale price within 5 working days prior to the final signature before a notary in the Principality.
Here is everything you need to know about real estate investments in Andorra. If you want to invest in real estate in the Principality, do not hesitate to contact Molines Patrimonis.
