Working in Andorra is a great opportunity for companies that want to expand globally. Your new location in the country will allow you to form new business relationships, recruit talented employees and grow your bottom line with updated products and services. However, setting up an Andorra subsidiary isn’t always easy, and it can take months to a year to even begin working.
Globalization Partners can help you work in a day or two through Andorra subsidiary outsourcing. You can use our Andorra PEO to run your company — everything from recruiting and hiring employees to dispersing compensation and benefits. We act as the Employer of Record, which means all Andorra subsidiary laws will fall on our shoulders instead of yours. As a result, you’ll have more time to run your company while we handle all compliance.
How to Set up an Andorra Subsidiary
Do you know how to set up an Andorra subsidiary? Most companies begin the expansion process without knowing all the details or laws. We recommend first looking at where you want to incorporate within Andorra. Different cities or regions could have different Andorra subsidiary laws that will make it either easier or more difficult to incorporate. If you’re not familiar with the applicable laws, work with a third-party expert who can help you pick the best location.
Another important consideration is what type of entity would best promote your business goals. You can set your business up as a limited liability company (LLC), public limited company, branch office, representative office, or holding company. Each structure has different laws, regulations and limits on what you can do in Andorra. For companies planning to work in the country long-term and provide a variety of services, we recommend incorporating as an LLC, which provides more freedom.
The Andorra subsidiary setup process for an LLC includes the following steps:
- Registering your company name
- Applying for an authorization form to incorporate
- Opening a business bank account with an Andorran bank
- Depositing all minimum share capital
- Applying for a deed of incorporation
- Registering the public document in the Trade Register of Andorra through a notary
- Applying for a company Tax Identification Number (N.R.T)
Andorra Subsidiary Laws
While the LLC structure is the most commonly used among companies expanding globally, you still need to follow the right Andorra subsidiary laws. Before you can start working, you must appoint at least one director and two shareholders, who can be of any nationality. Shareholders must invest a total of at least 3,000 EUR to complete the incorporation process.
Once you complete all the necessary incorporation steps and follow the applicable laws, you need to provide your corporate name and the lease for your company’s office. Doing so will help you determine which municipal Andorra subsidiary laws you need to meet. From the time you start the Andorra subsidiary setup process to the end, it will take about a month if everything is completed correctly.
Benefits of Establishing a Subsidiary
Establishing a subsidiary will give you the legal authority to work in Andorra, which has the strong potential to grow your bottom line. Your specific entity can also present various benefits. For example, an LLC will protect your parent company and allow you to run your subsidiary separately.
Companies expand to Andorra because of these benefits, but you won’t start to experience them until you go through the entire Andorra subsidiary setup process. Your other option is Andorra subsidiary outsourcing with Globalization Partners. We’ll help you get the benefits you want and need in a couple of days without worrying about compliance.
What Do You Need for the Andorra Subsidiary Setup Process?
Gathering everything you need for a successful expansion before you start the process will help you streamline the process. We recommend employing an expert in Andorra subsidiary laws to help you stay compliant. Then, you should make sure you have the money and time to devote to the process.
Reach out to Globalization Partners Today
Globalization Partners makes it easy for companies like yours to expand around the world. Contact us today to learn more about Andorra subsidiary outsourcing and our Global Expansion Platform™. We’ll be happy to help you expand without the hassle.