ANDORRA – AN ATTRACTIVE DESTINATION IN EUROPE

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 10, 2012 -- Monaco, San Marino, Switzerland, Cyprus, Malta – these are the jurisdictions which come to one’s mind when thinking about attractive destinations in Europe for managing a business. These countries offer advantageous taxation systems, modern banking products and services, as well as confidentiality provisions. Andorra, a country with strong financial sector, often remains outside usual financial strategies, even thought it has a number of strengths.

Andorra is present on the White List issued by OECD which translates into the jurisdiction’s transparency and professionalism in financial services. At the same time, it ensures that no fishing expeditions and no retroactivity are applied. Any type of information request presented by a private person or organization must meet specific requirements and approved by the judge.

Andorra has signed 18 Tax Information Exchange Agreements (TIEAs), but the UK and the USA are not among these countries. Standard & Poor’s rated Andorra’s foreign currency category as A, and T&C assessments as AAA.

Banking sector, as well as insurance business, investment funds, wealth management and innovative asset protection instruments are strong financial products and services which can be established and developed in Andorra. The jurisdiction is particularly proud of its well developed banking industry, which includes five large banking groups. Traditional banking and private banking operate according to international standards and offer high quality services.

In addition, to the above, there are no capital gains, death duties and insurance taxes in Andorra. Corporate entities are not liable to pay withholding taxes on interests and dividends.

Having a solid international reputation, Andorra may become a better choice for your business and private goals than usual jurisdictions in Europe. It is extremely important to analyze each situation in details, in order to work out and apply the most appropriate strategy in each particular case. Every country has its own advantages, and a professional financial advisor will be able to bring them together into a fully personalized successful international financial strategy.

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