Andorra suspends foreign investment in real estate

Compartir:

foreign investment

The Andorran Council of Ministers has approved an immediate measure: the suspension of authorizations for foreign investment in real estate. This decision has the support of 23 out of 28 members of the general council.

This measure is a response to the increasing interest of foreign investors in real estate properties, with its primary goal being to address the issue of the scarcity of affordable housing in the Principality.

The government plans to implement a tax on foreign investment in real estate, with the proceeds going towards projects benefiting the citizens, such as infrastructure, economic diversification initiatives, and the expansion of the public housing rental stock. Additionally, efforts are being made to introduce a tax for foreign investors who divest their investments in Andorra before a specified deadline.

While awaiting the implementation of this tax and working on updating the foreign investment law, which will be presented in the first quarter of 2024, the process of suspending foreign investment is initiated in accordance with Article 60.1 of the Constitution. This is being done urgently and out of extreme necessity to discourage speculative transactions by potential investors during this period of regulatory uncertainty.

If you have any inquiries, please do not hesitate to contact us so that we can provide you with our best advice.

www.feliu.biz

www.expatfeliu.com

Otras Noticias

Scroll to Top
Privacy Overview
Feliu N&I

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Cookies necesarias

Las cookies necesarias tiene que activarse siempre para que podamos guardar tus preferencias de ajustes de cookies.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.