Andorra admission raises 2006

While Monaco is known European tax haven, Andorra remained little known outside of the financial community - despite enjoying the same tax advantages and arguably more banking than its private rival better known.
Unlike other financial benefits both Monaco and Andorra residents enjoy, the two small have quite different climates.

Monaco has no time throughout the year, and is located next to the French Riviera, while Andorra in the Pyrenees and between early December and late April attracts nearly ten million tourists for ski holidays. Monaco tourists throughout the year, peaking twice a year in May for the Grand Prix, and September for the Yacht Show.

Andorra, Monaco or airports - Nice airport has to do with a helicopter, ten-minute ride directly Monaco, Andorra is not so fortunate and the nearest airport is Barcelona, ​​a three-hour course of the emirate.

Chose the two countries to remain outside the European Union, and to maintain its ability to maintain a policy of non-tax revenues.

The biggest difference is the entry price to become residents - which is to buy or rent a house or apartment.

Apartments and one-bedroom in Monaco at the start of 800,000 euros, but in Andorra same size apartment starts at less than a third of the price of 250,000 euros. Although rare home in Monaco, and there is a good selection of homes for sale in Andorra, with prices starting from less than one million.

Prices

Given the benefit of real estate prices of Andorra for future populations to choose between heaven Europe initial taxes, came as a surprise to many that the closing costs for buying a property in Andorra has not only less than half that of Monaco, but also less than buying a property in many other European countries righteousness The main four and a half percent.

But only raised Andorra closing costs of ownership by delivering a three and a half per cent of the sale of goods and services tax on purchases from January 1, 2006 - bringing the tax haven more in line with neighboring France and Spain.

Demand for real estate in Monaco and Andorra are unlikely to be affected despite the recent increases, according to the characteristics of European tax haven specialists Tribune.

Saw Andorra, Monaco always an increase in real estate activity and applications when taxes rise residence elsewhere. The new German government has increased recently the maximum rate of income tax and the United Kingdom has seen an increase in indirect taxes, making the zero per cent income tax in Andorra and Monaco offer preposition attractive to high-income individuals.

Goods inflation was Andorra more than ten percent annually over the past three years, and when figures are released in 2005 and we expect to have four consecutive years, with no signs of stabilization demand for next year.

Cable with Andorra, Monaco high-speed broadband and business owners on the Internet are increasingly moving their residence to low and any country taxes and manage their business in the geographical distance, while to be able to exchange information with the head office in real time. "

As buying a property in Andorra or Monaco, both countries require residency applicants create a local bank account and deposit around 50,000 Euros (Andorra) or 100,000 Euros (Monaco), take out private health insurance and live there for six months of the year.