The total number of foreign investment applications submitted in 2019 represents a variation of -13% with respect to the previous year. Even so, the volume of initial investment declared reflects a variation of +88.1% with respect to 2018 and reaches almost 337 million euros, according to the latest report provided by the Government of Andorra’s Department of Statistics.

On the number of applications formalized (which correspond to authorized applications that have been formalized before an Andorran notary), 2019 presents a variation of -9.3% (-47 applications). But the volume of the investment formalized grows 82% in 2019 compared to the previous year to almost 277 million euros and multiplies the values recorded in 2013 up to ten times more. The main operations were portfolio investment and Services.

Foreign direct investment corresponds to requests to carry out corporate operations which require prior authorization, such as the incorporation of a company, the acquisition of more than 10% of shares or holdings in an Andorran company, substantial modifications to corporate objects and capital increases.

The Government has one month to resolve the request and the administrative silence is positive. With the entry into force of Law 10/2012 of 21 June on foreign investment in the Principality of Andorra, the process of economic opening has been completed.