| Andorra businessmen and women are normally | | | | The activities that would be naturally |
| counting their takings at the end of the | | | | attractive to tourists and easily catered for |
| country's ski season, but after the worst | | | | are hill and mountain walking, hiking and |
| year for tourism for twenty years some are | | | | pony trekking. |
| instead counting their blessings that they | | | | |
| are in business still at all. | | | | Andorra The Tax Haven |
| | | | |
| While some might consider this year - when | | | | Andorra is fortunate compared to many regions |
| the first meaningful snow fell in mid March | | | | where ski holidays are an important part of |
| instead of mid November - a rare event, | | | | the economy, as it is also a tax haven, |
| others are considering a future where | | | | second only to Monaco in Europe for |
| diversification could be the key to their | | | | popularity, and equal in tax benefits. |
| survival and continued profitability. | | | | |
| | | | As well as attracting new residents with high |
| The Andorra government has worries too that | | | | net wealth who contribute to Andorra's |
| recent investment in the infrastructure might | | | | economy while in residence with their |
| not pay off. Millions of Euros have been | | | | spending power, Andorra has a good banking |
| spent on upgrading the roads and other | | | | system that provides good employment |
| facilities, while private money has seen the | | | | prospects. |
| building of new quality hotels close to the | | | | |
| ski slopes. | | | | To obtain residency in Andorra, applications |
| | | | need to be submitted in Catalan. A notarised |
| That investment was made on the basis of | | | | copy of the applicants passport, birth |
| twenty years of continued growth for Andorra, | | | | certificate and a certificate of good conduct |
| to the extent that in recent years over ten | | | | from the home country are submitted at the |
| million tourists have visited Andorra a year, | | | | same time. Residency normally takes between |
| a remarkable figure given a resident | | | | three and six months to be approved. |
| population of just seventy thousand. | | | | |
| | | | Once residency is granted, residents are |
| But the investment was made for the ski | | | | supposed to spend six months a year in |
| season of early December to late April, when | | | | Andorra, but this isn't policed. |
| the vast majority of the tourists arrived, | | | | |
| and little had been planned for the rest of | | | | One of the drawbacks for those looking to |
| the year. The season was so bad for 2006/7 | | | | become a resident in a tax haven when |
| that the ski slopes were closed three weeks | | | | considering Andorra has been that the country |
| earlier than normal. | | | | has no airport of its own, and is unlikely to |
| | | | have ine future given that it is located in |
| Andorra is now looking to market her best | | | | the Pyrenees. The nearest airports are |
| assets, the Pyrenees mountains, to spring, | | | | Barcelona and Toulouse. |
| summer and autumn tourists to try and make up | | | | |
| the winter shortfall. And if this season was | | | | Recent improvements in the road from |
| a one-off rather than a regular event it will | | | | Barcelona to Andorra though have cut the |
| come as a boost to the tourist trade rather | | | | travelling time by some thirty minutes to two |
| than an alternative one. | | | | hours fifteen minutes. |
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