Air Andorra Finally Can Spread its Wings
The Principality of Andorra lies in a secluded valley between France and Spain. This tiny haven is tucked away high in the Pyrenees - one of Europe's most impressive mountain ranges.
Since 1993, Andorra has been an independent parliamentary democracy. But before that, this little-known tax haven was a medieval principality. The president of France and a Spanish Catholic bishop jointly ruled this small land. For a few in the know, this picturesque country, almost forgotten by the world, offers affordable, crime free and tax-free living.
Andorra is a great ski attraction for the most of the year. But unfortunately, that also means the roads there could be covered in snow for much of the year.
Until now, Andorra has been hours away by car from the nearest airports in Barcelona, Spain or Toulouse, France.
But last week the Andorran government announced plans for a new airport just 15 minutes from the Spanish border. This should boost the number of ski enthusiasts and other tourists. It also may very well increase the number of resident foreigners seeking tax freedom and financial privacy.
Andorra's lone airport will be located in Seu d'Urgell, with first flights anticipated in 2010 or 2011. With a runway of 4,500 feet, it won't be long enough for some medium range aircraft. Most commercial air planes using the airport will be 60 to 80 seaters. There will also be plenty of room for the private jets favored by the wealthy who now consider Andorra a viable and more accessible tax haven.
In the past 40 years, Andorra has been transformed from a poor European country with no real economy to a vibrant independent state. The wealthy now seek out this little city-state for her tax haven status. Skiers come to Andorra for the ski runs, facilities and ski holidays infrastructure that rival the best in Europe.
Andorra and the more famous Principality of Monaco are Europe's leading tax havens, with residents enjoying the benefit of no income tax.
Property prices in Andorra are less than a third of Monaco's prices. Indeed, Andorra is a tax haven - no income, capital gains or inheritance taxes. No sales taxes or customs duties. There is a small local residence tax charged in most "parishes," as the local government unit is called.
And perhaps soon, we may be seeing the logo of "Air Andorra."
The Principality of Andorra lies in a secluded valley between France and Spain. This tiny haven is tucked away high in the Pyrenees - one of Europe's most impressive mountain ranges.
Since 1993, Andorra has been an independent parliamentary democracy. But before that, this little-known tax haven was a medieval principality. The president of France and a Spanish Catholic bishop jointly ruled this small land. For a few in the know, this picturesque country, almost forgotten by the world, offers affordable, crime free and tax-free living.
Andorra is a great ski attraction for the most of the year. But unfortunately, that also means the roads there could be covered in snow for much of the year.
Until now, Andorra has been hours away by car from the nearest airports in Barcelona, Spain or Toulouse, France.
But last week the Andorran government announced plans for a new airport just 15 minutes from the Spanish border. This should boost the number of ski enthusiasts and other tourists. It also may very well increase the number of resident foreigners seeking tax freedom and financial privacy.
Andorra's lone airport will be located in Seu d'Urgell, with first flights anticipated in 2010 or 2011. With a runway of 4,500 feet, it won't be long enough for some medium range aircraft. Most commercial air planes using the airport will be 60 to 80 seaters. There will also be plenty of room for the private jets favored by the wealthy who now consider Andorra a viable and more accessible tax haven.
In the past 40 years, Andorra has been transformed from a poor European country with no real economy to a vibrant independent state. The wealthy now seek out this little city-state for her tax haven status. Skiers come to Andorra for the ski runs, facilities and ski holidays infrastructure that rival the best in Europe.
Andorra and the more famous Principality of Monaco are Europe's leading tax havens, with residents enjoying the benefit of no income tax.
Property prices in Andorra are less than a third of Monaco's prices. Indeed, Andorra is a tax haven - no income, capital gains or inheritance taxes. No sales taxes or customs duties. There is a small local residence tax charged in most "parishes," as the local government unit is called.
And perhaps soon, we may be seeing the logo of "Air Andorra."
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