Compared to Spain or France, labor costs are notably lower. The same happens with Social Security contributions, which for companies stands at 15.5%, while the same charge exceeds 30% in Spain and France. This fact facilitates the hiring of employees and reduces the fixed cost of any entrepreneur who creates a company in Andorra.
Salaries in Andorra
Salaries also offer very competitive figures. Since 2018, the average salary in Andorra has been around € 2,100 / month and the minimum wage, at € 1,050 / month. Although the latest figures provided by the INE show that the average salary in Spain is similar to that of Andorra, the difference in labor cost due to Social Security contributions means that the Spanish salary is increased to 15% more than in Andorra . In France, the average salary was € 2,957 / month in 2016. If the 32% corresponding to Social Security is added, the resulting figure is € 3,844 / month (while in Andorra it stands at € 2,346 / month, almost 40% less).
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