Gibraltar vs Andorra: which jurisdiction wins?

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

	Gibraltar	Andorra
Tax headline	12.5% corporate tax	10% corporate, 10% personal
Formation days	7	30
First-year cost	$4,000	$6,500
Treaties	Limited	9+
Substance	Substance for accrued-in-and-derived-from claim	Real residency required
Banking	Gibraltar International Bank, EMIs	Andorran banks (Andbank, Crèdit Andorrà)

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