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Archived Articles
Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Andorra: Close to heaven (some restrictions apply)Tax Heaven within the Eurozone in Europe? Sounds too good to be true but if you're looking not at the bigger but at the smaller countries in the continent you still can find places where the only unavoidable thing is death (without taxes). For small investors still looking for places for their hard-work gained money, have they already heard talking about Andorra? Do they know where it's exactly on the map? No? So what is Andorra, what does it offer and how do you get there? This tiny principality, which is situated between France and Spain, has existed since the 13th century with France and Bishop of Urgel (Spain) sharing the responsibilities to defend it. Majority of its population of 65 000 are considered to be wealthy enough with per capita incomes of more than $ 20,000. If you're a small investor and don't mind living in a quiet region, still not far away from major urban areas such as Barcelona, you probably have to consider Andorra as one of your principal options. In this country there are no capital gains taxes, income taxes or stamp duties, the average municipal taxes per household are $100-150 per year. When you buy a house or apartment the property tax is only 1-2%. Sounds like you're in Heaven, not just in tax heaven, but wait, this is only one side of the story. The not so good side is the restrictions that apply to foreigners wanting to settle there. To live permanently in Andorra without working you have to obtain the so-called passive residence, which has been granted every year respecting some quotas (usually 200 per year). To get this passive residence you have to prove that you have an address in the country, that your household has a minimum annual income of $35,000, to make a deposit (refundable on departure) of $35,000 with the Andorran Government Finance Agency, to have a private health plan and not to work in Andorra. As seen on the local real estate web sites, the properties in Andorra are relatively cheaper than in most West European countries, approximately $1,200 per sq.meter for apartment and less than $2,000 per sq.meter for the houses with their own plots (1 sq.meter = 10 sq.feet). The real restriction for the investors comes from the local regulation system. In fact there are 2 classes of owners - Andorran citizens and permanent residents for at least 20 years, on one side, and all the other foreigners, on the other side. The foreigners can own only one property - apartment, house with a plot or simply a plot. The plot may not exceed 1000 sq.meters. This regulation is achieved by forcing foreign buyers to apply for permission before buying a property in Andorra. Without such permission the Notary public (who is a government agent) won't give a title to the new owner. - - - - -
Andorra (Principality of Andorra)
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See also the directory of companies providing real estate services in, and general real estate information of Andorra.
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