GSL / Offshore and International Law. Offshore companies registration. / Offshore Banking / Bank of Andorra

How to open a bank account in Bank of Andorra

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

April, 2018

Last contact

December, 2024

Last update

June, 2024
  • the bank opens settlement accounts;
  • minimum account balance – EUR 500 000;
  • to open an account, a personal meeting with a potential client is mandatory;
  • fixed transfer fee – EUR 150;
  • opens accounts for companies from different jurisdictions, including offshore ones;
  • term of account opening – case by case (check with a consultant)
GSL rating
rating
Beginning of cooperation
April, 2018
Last contact
December, 2024
Last update
June, 2024
Your Consultant
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+44 0 207 822 85 93

General information and rating
General information and rating

Not rated
Global rating
Not rated
Countrywide rating
—
Countrywide rating of the head bank
—
Global rating of the head bank
Year of foundation
1938
History
Founded in 1938
Personnel
Communication with personnel takes place in English
Confidentiality
AML legislation is strictly observed
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    Minimum requirements
    Minimum requirements

    500 000
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    50 000
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    Minimum balance, €
    Minimum account balance - EUR 500 000
    Transactions permitted per month
    The number of transfers is not limited
    Initial deposit of funds, €
    The initial payment can range from EUR 50 000 to EUR 100 000 with a mandatory annual replenishment of the account balance up to EUR 500 000
    Deadline for the initial deposit, month
    Soon after opening an account
    Minimum turnover, €/year
    No restrictions
    How fast payments are executed
    Payments are made the next day

    Tariffs and services
    Tariffs and services

    150
    Outcoming transfer, €
    0
    Incoming transfer, €
    800
    Account maintenance, €/year
    No restrictions
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    The amount of payment for the transfer is fixed and amounts to EUR 150
    Incoming transfer, €
    The Bank does not charge for incoming payments
    Account maintenance, €/year
    Account maintenance fee is EUR 800 per year
    Payment limit for credit cards, €/day
    Payment limit for credit cards - at the request of the client and in agreement with the bank
    Funds to be blocked for CC issue, €
    Insurance coverage - EUR 1 000
    Distant access to the account
    Internet banking in passive mode: it is possible to receive detailed information about all transactions and account balances, but it is not possible to conduct transactions online
    Financial products
    The bank specializes in providing banking services to both individuals and companies, providing the most suitable banking products and services for each of its clients. Banking services can be tailored to each client individually. The bank has a very functional and convenient Private Banking. The bank opens both savings and checking accounts. Works with cryptocurrencies (investments through a note or fund)
    Credit/debit cards
    VISA (EUR 150 per year)

    Account opening procedure
    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Savings & current
    Visit to the bank
    A visit to the bank to open an account is not required. A meeting with a representative of the Bank a conversation via Skype is possible. Preliminary documents are submitted to the Bank for approval, and then the procedure for opening an account takes place
    Required
    Completed bank forms. Copies of passports of beneficiaries and account managers. TIN is required instead of UB. Standard set of corporate documents.
    Types of accounts
    Savings; Current
    Opening procedure and Due Diligence
    It is possible to open an account without visiting the country where the bank is located
    Chances to open an account
    Predictable
    Business description
    Moderately detailed: an exhaustive list of counterparties for incoming and outgoing transfers is required, contracts with counterparties, financial / management reporting for the company and / or a bank statement for 12 months, a summary of the beneficiary and account manager
    Offers
    Company registration in Andorra: Limited Liability Company – SL. Service offer

    Major advantages of doing business in Andorra. Budget for setting up business in Andorra. Time frame for setting up business in Andorra. Step-by-step description ...

    18100 EUR

    Buy

    Banks of Andorra

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    Bank of Andorra
    3 500
    N/A
    N/A
    Creand (Crèdit Andorrà) SA
    3 500
    1 283
    1
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