While Monaco is a well known European tax haven, Andorra has remained little known outside of the financial community – despite enjoying the same tax advantages and arguably more private banking than her better known rival.
In contrast to the similar financial benefits both Monaco and Andorra residents enjoy, the two small countries have quite different climates.
Monaco has good all year round weather and is located next to the French Riveria, while Andorra is in the Pyrenees and between early December and late April attracts nearly ten million tourists for ski holidays. Monaco has year round tourists, peaking twice a year in May for the Grand Prix, and September for the Yacht Show.
Neither Andorra or Monaco have their own airports Nice airport has a helicopter link, a ten minute ride direct to Monaco, Andorra is not so fortunate and the nearest airport is Barcelona, a three hour drive away from the principality.
Both countries have opted to stay out of the EU, preserving their ability to maintain a no income tax policy.
The biggest difference is the entry price for becoming a resident which entails buying or renting a house or...
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