This document provides a quickstart guide to starting a business in Andorra. It summarizes Andorra's key economic statistics and industries. Tourism, banking, and retail are strong industries. The country aims to attract foreign investment and has favorable tax and business policies. The guide also lists local startup examples and resources for entrepreneurs, including accelerators, investors, and meetup groups. It recommends opportunities in online sales, multilingual services, and developing local brands.

1. The Startup‘s Quickstart Guide To:
Andorra

2. The Startup‘s Quickstart Guide To:
Andorra
Here at The Startup Monthly, we’ve come across various guides here and there about
the startup communities in different countries. But, they’ve been inconsistent, and
not all countries are covered.
This guide is by no means meant to be complete and all encompassing. Consider it
a starting point if you’re an entrepreneur, investor or researcher.
We plan to update these guides at least annually and welcome any suggestions or
additions we should consider adding to the guide. I.e. startups, investors, community
resources, etc.
Please email any suggestions or questions to editor@thesocialmediamonthly.com.
Lead Researcher: Wendy Shu; edited by K. Marxtova Last Updated: June 20, 2016

3. The Startup‘s Quickstart Guide To:
Andorra
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4. The Startup‘s Quickstart Guide To:
Andorra
• Government: Principality of Andorra
• GDP: $3.163 billion ($47.300 per capita)
• Unemployment rate: 4%
• Inflation rate: 1.1%
• Population below poverty line: N/A% 2
• Main industries: Tourism (skiing), banking, sheep,
perfumes, cosmetic products, electrical machinery,
clothing, furniture, tobacco products 2

5. The Startup‘s Quickstart Guide To:
Andorra
• Strong tourism industry, industries now narrowly
focused on tourists and services
• 2012: Passing the Foreign Direct Investment Law
made foreign investments easier
• Well-educated workforce3
• Favourable banking policies, reasonable taxation
rules, stable political and economic climate 4
• How To Set Up A Business In Andorra guide

6. The Startup‘s Quickstart Guide To:
Andorra
Big Sky Group
• Trading service
providing secure
payments in Angola
• Mobile app
• Both for B2B and
B2C transactions
My Teleworker
• Guide to where to
dine, drink and
dance in Luanda
• Provides also a
newsletter
IDTKT
• Online car selling
service
• Connects the seller
and buyer
• Local number one in
this field

7. The Startup‘s Quickstart Guide To:
Andorra
• My Beweeg – Personal trainer with the
customized sessions right in the phone (AppStore,
Google Play)

8. The Startup‘s Quickstart Guide To:
Andorra
• Ew David Tiago – Advicing startups
• David Tiago – Andorran entrepreneur (read an
interview here)
• Global Entrepreneuship Week Andorra – Event
presenting local startups and connecting them with
investors
• Sotheby‘s – Investment opportunities provider
• IWAND – International platform for investors
• Crèdit Andorrà – Management of investments

9. The Startup‘s Quickstart Guide To:
Andorra
• Meetup Group – Local group connecting startups
and entrepreneurs in this area
• Blink – Listing all the notable startups
• Andorra Business – Online blog informing about
business field in Andorra
The Startup‘s Quickstart Guide To:
Austria

10. The Startup‘s Quickstart Guide To:
Andorra
• Main potential: online sales & marketing,
multilingual services, international consultancy
and franchising, R&D 3
• As Andorra focuses mainly on import, might be
worth trying to establish local brands to go
against this unfortunate trend
• Highly attractive to new businesses – no local
competition

11. The Startup‘s Quickstart Guide To:
Andorra
• (1) Image 1:
https://upload.wikimedia.org/wikipedia/commons/thumb/1/12/Location_Andor
ra_Europe.png/685px-Location_Andorra_Europe.png
• (2) CIA. (2016). Andorra. In: The World Factbook. (online).
https://www.cia.gov/library/publications/the-world-factbook/geos/an.html
• (3) Adorra-Business. (2016). Business Opportunities in Andorra. In: Andorra-
Business.com. (online). http://www.andorra-business.com/business-
opportunities-in-andorra.asp
• (4) Rouffaud, Luc. (2015). 5 Reasons to start your business in Andorra . In:
Nomad Capitalist. (online). http://nomadcapitalist.com/2015/02/12/5-reasons-
start-business-andorra/
• Background image:
https://commons.wikimedia.org/wiki/File:Andorra_Vall_dels_Cortals_01_JMM.J
PG