How betting and poker taxes work in Andorra
Poker in Andorra has become one of the hottest and most topical issues in Andorra.
In recent years Andorra has been welcoming more and more poker players to the country. Why is that? Here we explain in detail why Andorra is attracting poker players and why poker in Andorra has become so important.
Gambling in Andorra has traditionally been regulated through policies aimed at reducing gambling and promoting responsible gambling.
What taxes do online poker players pay in Spain?
In Spain, money won through Poker tournaments is generally considered a capital gain, as they are also considered in Andorra.
Therefore, personal income taxes are applicable to the results derived from the participation in bets and games to be treated as a whole.
Poker winnings are calculated each year.
Therefore, in Andorra, all winnings from poker, whether in a land-based casino or in an online casino, must be taxed at 10% personal income tax.
No geographical limitations by IP
You will not be able to play anywhere on the Internet for IP reasons.
We have an extensive list of articles about poker and poker players living in Andorra that may interest you.
One of the reasons why poker players settle in Andorra, besides obviously the taxation of the Principality and the large community of poker players is because from Andorra, poker players have no IP limitations.
Therefore your data will be safe online from any website and you will be able to play at any poker table you want.
Do you play poker online? Do you play poker internationally?
Andorra has an attractive tax system that can benefit anyone involved in the industry.
Professional poker players have recently been looking for alternative jurisdictions with favorable tax rates, and Andorra has been chosen as their preferred destination.
If you are interested, you can read our interviews with poker players who have residency in Andorra such as Kaju and Vicente Codelsa.
Community of poker players
In Andorra online poker players are already established here.
The reason why poker players have settled in the Principality of Andorra is mainly due to the benefits regarding taxation and the fact that they can earn profits from their activity in salaries all over the world without the need of any geographical limitation by IP.
In addition, the Principality of Andorra has an excellent fiber optic connection throughout the Principality, which allows high speed connections without connection failures.
Currently, UK businesses face higher taxes for online poker courses based on the sale of goods that were once not exempt in the UK.
Why are poker players moving to Andorra?
Like many other professions, the professional poker player can enjoy Andorra’s flexible taxation and taxation policies and regulations.
Although gambling laws have been passed in the Principality, this does not directly affect poker, thus eliminating the rigid rules in this regard.
Online poker players travel for a long time, so they look for low-income tax countries to settle down, such as Andorra, whose maximum taxation on profits from companies related to the poker sector and profits made in different poker countries are taxed in Andorra at a maximum of 10%. So taxes in Andorra are the basic reasons why poker players come to apply for residency in the country.
Andorra is also one of the preferred destinations in Spain to play online poker.
Main difficulties of poker players in Andorra
Andorra is home to thousands of players who use the Internet to play. But now it is not a desirable destination due to the difficulties of many banks to open their accounts within the Principality andorra (needed by business owners).
Gambling is generally an unregulated industry and banks are generally reluctant to regulate the industry.
Therefore, when you want residency in Andorra the poker player is obliged to do his own activity and usually register as someone connected to digital marketing and gambling.
Now, if you are a poker player and you want to apply for residency in Andorra, for example to be able to play in all the online rooms in the world poker games without limitations, you will have to arm yourself with patience and even come to think that you may not have a bank account in Andorra because of your activity related to the game.
The reasons given by the Andorran bank to cancel or reject a personal or company account related to poker in Andorra is that the level of restrictions is high as it is usually difficult for them to justify the origin of the funds from your income or wealth.
However, if you can justify each and every one of the incomes and transfers that you receive, the bank will not really be able to put problems to obtain the access to a bank account in Andorra.
If on the other hand you do not have an account in Andorra because of your profession, you always have the option of keeping your money elsewhere, for example in a wise account either for your Andorran company or for you personally, as they do not usually give so many problems.
What online poker rooms are available for Andorra?
The Best Online Poker Room is offered in Andorra for players. Despite regulations in Spain and Britain, most are used freely within the principality.
In some cases you see Andorran flags placed above GGPoker or party poker tournaments.
In addition to these Pokerkling rooms are operating in the nation.
Based on the experience of these players, the firm has realized that e-wallets such as skrill/netellers conducted in Spain cannot support commercial transactions. Comments. This is undoubtedly due to Spanish regulations regarding online Poker.
The Andorra Casino
If you are a poker player, this information is of interest to you. Since recently opened in the country, the first casino of Andorra.
This casino has revolutionized the country, because thanks to this company, the profession of poker player in Andorra has become more normalized.
The residence for poker players coming from other countries has been generalized in this case, thanks to the benefits of the game and the location of this casino in Andorra.
Poker professionals can now play tournaments in Andorra in addition to playing them in Barcelona for example. Thanks to the proximity of Barcelona, many poker professionals travel to Barcelona on a recurring basis to play games with other people in a physical location.
Now, in other countries such as Spain and the United States, if you play in tournaments, in this case, if you get winnings, these prizes will be taxed in the country of origin and in Andorra you will have to say that these prizes have already paid their taxes so as not to have to pay again for everything in Andorra. Thus in Andorra these profits will be tax free since these winnings have already been previously taxed in Spain.
Online poker school in Andorra
If you need to set up a business we can help you. We have professionals who understand and have dedicated themselves to online poker in Andorra, so with this connection it is easier for us to help you.
So, on our website you will find a series of quality articles that will help you understand the different options available to you in Andorra in order to find the best service.
We can help you to have access to Andorra residency and that all your earnings can be taxed safely and securely in Andorra.
Residency in Andorra
If you are interested in residing in Andorra or if you already have friends residing in the Principality, we can help you with the residency procedure.
Do not let yourself be carried away by cheap offers of agencies, hire a lawyer who is specialized in the subject and who can help you in the whole process.
Keep in mind that in order to move to Andorra, you will have to create a company in the country and you will also need to make a deposit of 50,000 euros to the Andorran Financial Authority (AFA) approximately a month and a half after starting all the procedures for the creation of the company in the country.
This deposit will be returned to you when you decide to deregister as a resident in Andorra, as long as you do not have any debts with the country.
However, you may be charged a fee for this procedure.
Contact us
If you are on vacation in Andorra and you want to find out more about living in Andorra, you can contact us without any problem.
The poker market in Andorra is one of the most misunderstood markets in the different sites that provide business creation services in Andorra.
One of our skills lies in understanding not one part but the whole poker world, so we will provide you with quality services.
Contact us without obligation. Our professionals will help you with your doubts.