Les Bullideres - Property for sale in Andorra.
Foreigners can buy real estate in Andorra and register it in their own name. To purchase real estate in Andorra, you need to get permission from the authorities and not be the owner of another property in this country – an apartment or a house. The purchased property must be built according to the current building regulations. Buying a property in Andorra goes through the following stages:
Choosing an object. The selection of real estate is carried out in the catalog of the web portal Yana Property, while you can sort by the necessary categories that interest you.
Les Bullideres - Property for sale in Andorra
Making a deposit. This will allow you to withdraw your chosen object from sale and will serve as a guarantee of the transaction. The deposit amount, as a rule, is 10% of the value of the object. If the buyer unreasonably refused the transaction, his deposit will not be refunded.
The design of the Escriptura Publica. This is a document that confirms the owner's rights to the property. The document is notarized and registered.
Purchase and sale agreement. The contract is standardized and approved by the government.
The signing of the contract for the purchase and sale of real estate takes place only in the presence of a notary. Before the signing procedure, the notary verifies the correctness of the contract and the certificate of transfer of ownership. The notary has all access rights to the register of all real estate in Andorra.
There are a number of features when buying a property in Andorra. It is recommended to make a will or make an addition to the existing one for all types of property and assets that the buyer has in Andorra, since there is no automatic inheritance of property rights by spouses in the principality.
Restrictions on the number of real estate objects to be purchased. In one name, it is allowed to purchase and register only one object or building site with a size of no more than 10 acres. At the same time, foreigners, their children and spouses are treated as one person. These restrictions are lifted only after 20 years of a foreign citizen's stay in the state.
Another way to overcome this limitation, or the usual way for many countries, is when a hectare of land or a second apartment is purchased for an Andorran citizen or a company that is, in turn, a proxy (agents often act as a proxy). But this method is accompanied by many difficulties and requires the participation of highly paid lawyers from the local bar association.
In addition, a foreign citizen cannot engage in independent entrepreneurial activity in Andorra, he can only work for hire, but this is also quite difficult.
Foreign companies cannot be established on the territory of Andorra. In addition, foreign legal entities and individuals, residents living in Andorra for more than 20 years, can own only a third of the company's share capital. Foreigners cannot hold high management positions of companies. All documentation is issued in Catalan.