Andorra, San Marino EU deal leaves investor residence as is

The European Union signed an Association Agreement with Andorra and San Marino this week, giving both countries access to the EU's Internal Market, the European Commission said. The EU also signed updated Monetary Agreements with both countries.

The deal does not change how foreign investors obtain residence in either country. IMI Daily reported on 22 October that the agreement excludes immigration policy, so residence for non-EU nationals stays under national law. The right to live and work across the EU goes to Andorran and Sammarinese citizens, not to foreign residents, and neither country joins Schengen.

According to IMI Daily, Andorra's passive residence still requires a €1 million investment in Andorran assets and a non-refundable €50,000 payment to the state, while San Marino's elective residence requires a €500,000 property purchase or €600,000 in government bonds (as of 22 October 2026). EU nationals will gain residence rights in both countries, but within annual quotas. IMI Daily also notes that naturalisation takes 20 years of residence in both countries, and that Andorra does not allow dual nationality.

Neither agreement is in force yet. The Commission said the Council will now seek the European Parliament's consent, and the agreement can apply provisionally once ratification in Andorra and San Marino allows.