Delaware (USA) vs Andorra: which jurisdiction wins?

Delaware (USA) vs Andorra — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Delaware (USA)	Andorra
Tax headline	21% federal + 8.7% Delaware (no state tax on non-DE income)	10% corporate, 10% personal
Formation days	1	30
First-year cost	$1,200	$6,500
Treaties	70+	9+
Substance	US tax presence considerations	Real residency required
Banking	Mercury, Brex, plus tier-1 US banks	Andorran banks (Andbank, Crèdit Andorrà)

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