Hong Kong vs Andorra: which jurisdiction wins?

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

	Hong Kong	Andorra
Tax headline	16.5% profits tax, territorial system	10% corporate, 10% personal
Formation days	7	30
First-year cost	$3,200	$6,500
Treaties	47+	9+
Substance	Offshore claim requires substance and operational evidence	Real residency required
Banking	HSBC, Standard Chartered, plus VASP-licensed banks since 2024	Andorran banks (Andbank, Crèdit Andorrà)

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