Comments by "Matthew Nirenberg" (@matthewnirenberg) on "The Only Totally Tax-Free Place in Europe" video.

@Xenthoid But that means renouncing every other citizenship you have (i.e. zero options if you do so) as they don't permit dual/multi citizenship. Monaco is another country that doesn't permit dual/multi citizenship. Yet another reason most people don't want to move to Andorra.
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Only good for the mega-rich as property is very expensive and the min. bank account that you must also have to get residence is more than most people have (in the millions). Also, Andorra rolled over and complied with external demands (from high-tax countries) to implement income taxes. They could have said no but given they chose to comply, most of the benefits are gone. If Andorra try to say no to such countries now, the response would instantly be "you can't say no, you did what we said before" followed by "we'll force you with sanctions". Sure Andorra is beautiful, has great shopping as far as the big fancy brands go, great skiing, etc. but can you really trust them to not increase taxes or have similar issues for citizens of certain countries (like how French citizens are forced to pay full French taxes, even if they fully like 100% of the time in Monaco)? For those who could afford Andorra (a country in which many will never be anything more than a resident), there are many options with zero taxes where those same people can become citizens either by CBI or through naturalization. Most mega-rich people simply visit Andorra for shopping and skiing but live elsewhere the rest of the time.
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