The importance of agreements
With the prospect of further expanding its agreements, Andorra is undertaking a process of international opening to promote foreign investment and the internationalisation of the country.
- Andorra signed the Tax Information Exchange Agreement with the European Union in 2016, and it has been applied since 2018 on the basis of data collected in 2017 among all member and non-member states and on a reciprocal basis.
- Automatic Exchange of Information Agreement with 95 countries according to OECD standards.
- Andorra has signed eight treaties to avoid double taxation and prevent income tax evasion.
- Negotiations are currently ongoing with several countries to extend the network of double taxation treaties.
- 10 double taxation treaties with: France, Luxembourg, Spain, Portugal, United Arab Emirates, Malta, Liechtenstein, Cyprus and San Marino. Agreement pending entry into force with Hungary.
- Andorra has signed the Monetary Agreement with the European Union. This agreement designates the euro as the official currency in the Principality, and also grants Andorra the right to mint coins.
- The agreement standardises the legislative framework for the national currency in banking and financial matters.