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April 24, 2018Demographics And Initial Interview: Integrated Professionals: By Zhang Ke
April 24, 2018The principality of the Valleys of Andorra is also known in Western Europe as Andorra. It is a small landlocked country approximately 181 sq. miles in size bordered by France and Spain, with Andorra la Vella as its capital city.
The majority of its 84,488(est. 2008) citizens speak Catalan, while a smaller portion of its population speak French or Spanish.
It has a close proximity to both France and Spain, which makes their languages the ones most likely to be encountered in the banking community.
Andorra is growing in prosperity everyday as seen by it GDP per capita of $ 42,500. This has come about because of its growing prominence as both a tax haven, and the increase in its popularity as a destination for tourist.
Andorra has a solid infrastructure, with a hydro-electric industry which supplies over 40% of the country’s electricity, making it less dependent on its neighbors for power.
Like a lot of the smaller counties in Western Europe, Andorra has a parliamentary representative democratic form of government. It has a co-principality shared by the President of France and the Bishop of Urgell. The Prime Minister is head of government and of a pluri-form multi-party system.
Its legal system combines codification used by France and Spain in making and interpreting laws.
The Parliament, also known as the General Council has between 28 and 42 members in its legislative branch, known as Councilors. These Councilors each serve four-year terms. Half of the Councilors are chosen through elections by the seven administrative parishes, and the other half come from a single national constituency. The Councilors elect a Prime Minister from their ranks.
While Andorra has gained recognition as a tax haven and an offshore banking center, Andorra is a better choice for sheltering personal income, than it is for businesses looking for offshore investment opportunities, used to minimize their corporate tax burden.
Individuals can open offshore bank accounts identified by name or number, and funds can be transferred to the account in any currency.
Andorran banks are known for their efficiency, and have never defaulted on their depositors, possibly due to the fact that they have very conservative policies, along with close ties to Swiss banks.
While there are many reasons to invest your money in Andorra, There is one very good reason for living there: The citizens have the highest life expectancy in the world, at 85 years.
Englishman Peter Macfarlane is an author and lecturer on offshore finance, investment, due diligence and wealth creation matters. After fifteen years advising high net worth clients on offshore asset protection structures such as companies, trusts and private interest foundations, he decided on a career change and now mentors individuals who are interested in creating, preserving and growing wealth in a secure offshore environment. Peter defines wealth in the broadest sense, believing that money is worthless if you don’t have health and happiness. He is now joint editor of The Q Wealth Report, a publication dedicated to publishing freedom, wealth and privacy information for a select audience. He offers a free sample copy to readers of ezineseeker. You can visit The Q Wealth Report to learn much more about offshore private banking.
