{"id":2384,"date":"2020-10-12T05:57:55","date_gmt":"2020-10-12T05:57:55","guid":{"rendered":"https:\/\/www.andorra-advisors.com\/en\/blog\/\/"},"modified":"2020-10-12T07:43:01","modified_gmt":"2020-10-12T07:43:01","slug":"patrimonial-society","status":"publish","type":"post","link":"https:\/\/www.andorra-advisors.com\/en\/blog\/patrimonial-society\/","title":{"rendered":"Benefits of creating a patrimonial company"},"content":{"rendered":"<p><span>A patrimonial company is one that does not carry out any type of economic activities.&nbsp;Therefore, it is not directly related to money or credit rights.&nbsp;Nor with production or distribution activities, where goods and services are offered, or people are employed.<\/span><\/p>\n<p><span>If not, it is a company which is based on&nbsp;<\/span><a href=\"https:\/\/www.andorra-advisors.com\/en\/purchase-real-estate\/\"><span>activities related to the purchase of real estate<\/span><\/a><span>&nbsp;or securities.&nbsp;It is used mainly for the rental of real estate, the possession of real estate and the possession of securities.<\/span><\/p>\n<p><span>Among the benefits obtained in a patrimonial company are:<\/span><\/p>\n<ul>\n<li><span>Reduce expenses related to real estate<\/span><\/li>\n<li><span>It allows the correct handling of successions, as well as obtaining tax savings.<\/span><\/li>\n<\/ul>\n<p><span>Therefore, equity companies should not pay taxes and neither should they pay taxes.&nbsp;This allows you to save considerably, since you will only have to pay taxes in the case of corporate taxes.<\/span><\/p>\n<p><span>In addition, through the patrimonial society it is possible to insure the family patrimony.&nbsp;Making it remain protected despite scenarios, such as bankruptcy of companies.&nbsp;Thus moving away from situations where assets could be seized.<\/span><\/p>\n<p><span>However, before creating an equity company, it is important to review different alternative scenarios.&nbsp;In order to ensure that it generates much more savings than expenses.&nbsp;Like this is the society whose benefits are conducive to the business that is being carried out.<\/span><\/p>\n<p><span>You need to know how it differs from other companies and the steps to create an equity company.<\/span><\/p>\n<h2><span>Differences between a patrimonial company and other companies<\/span><\/h2>\n<p><span>When talking about patrimonial society there are often confusion as to what it means.&nbsp;As it can also be confused with other companies, including the limited company, the corporation and the partnership.&nbsp;So it is essential to know in depth what each of these implies.<\/span><\/p>\n<p><span>Thus, the main difference between a patrimonial society and the others is based on economic activities.&nbsp;Since, as mentioned above, a patrimonial company must not imply an economic substance, nor participation of other companies.<\/span><\/p>\n<p><span>Some examples that allow distinguishing when it is not a patrimonial company include the fact of having hired other people.&nbsp;Either so that they are responsible for completing a full day when renting the properties.&nbsp;Nor will it be a patrimonial-type company if you have a partnership with other companies and this implies capital.<\/span><\/p>\n<p><span>In the event that the company is related to a holding company and has a stake of more than 50%.&nbsp;This will not be considered as a patrimonial society due to the use of materials and human personnel.<\/span><\/p>\n<p><span>Types of equity companies:<\/span><\/p>\n<ul>\n<li><span>Property patrimonial society<\/span><\/li>\n<li><span>Property rental property company<\/span><\/li>\n<li><span>Heritage holding company<\/span><\/li>\n<\/ul>\n<h2><span>Steps to create a company in Andorra<\/span><\/h2>\n<p><span>Before creating a company in Andorra, it is essential to know the steps necessary for it to be approved.&nbsp;Therefore, during an average period of 60 days each of the corresponding stages must be met.&nbsp;Established by the Andorran government, which supports all companies that wish to invest abroad.<\/span><\/p>\n<ol>\n<li><span>Request an authorization to be able to make a foreign investment.<\/span><\/li>\n<li><span>Formulate the request by which the name of the company is established in accordance with certain guidelines.<\/span><\/li>\n<li><span>Request the incorporation of the company.<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>A patrimonial company is one that does not carry out any type of economic activities.&nbsp;Therefore, it is not directly related to money or credit rights.&nbsp;Nor with production or distribution activities, where goods and services are offered, or people are employed. If not, it is a company which is based on&nbsp;activities related to the purchase of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[320],"tags":[394,429],"class_list":["post-2384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation","tag-heritage","tag-society"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What are the benefits of creating a patrimonial society?<\/title>\n<meta name=\"description\" content=\"Learn about the benefits that a heritage company in Andorra can offer you in the management of real estate and securities.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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