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Incorporating a company in Andorra starts with reserving the name (the certificate is valid for 6 months), followed by obtaining the foreign investment authorisation, opening a bank account, and notarising the bylaws. The most common form is the Societat Limitada (SL), with a minimum capital of €3,000 (or SLU for a sole owner); larger projects opt for the Sociedad Anónima (SA), with capital from €60,000. The company must rent or purchase premises (typically at least 20 m²) and demonstrate genuine economic activity — shell structures with no staff or office in Andorra carry serious tax risks. The total cost of setting up a standard SL for a foreign entrepreneur typically runs €4,500-9,000, excluding capital. Corporate profits are taxed at 10%, with a 3% minimum effective rate, and holding structures may qualify for the special regime exempting dividends.
