Andorra Business Bank Account: Opening Guide

Published on October 4, 2025 and written by Cyril Jarnias

Opening a corporate bank account is a crucial step for any entrepreneur looking to establish themselves in Andorra. This small country nestled between France and Spain offers an attractive tax environment and a stable banking system, attracting numerous international investors. In this article, we will guide you through the essential steps to open a corporate bank account in Andorra, providing you with all the necessary information to successfully complete this important process.

Key Steps to Open a Corporate Bank Account in Andorra

To open a corporate bank account in Andorra, it’s important to follow certain key steps:

1. Choose the Right Bank: Start by researching different Andorran banks and compare their business offerings. Each bank has its own advantages and specific features.

2. Prepare Required Documents: Gather all necessary documents before contacting the bank. This will speed up the account opening process.

3. Schedule an Appointment: Contact your chosen bank to set up an appointment. Most Andorran banks require an in-person meeting to open a corporate account.

4. Present Your Project: During the appointment, be prepared to explain your business and projects in Andorra in detail. Andorran banks are particularly vigilant about fund origins and the nature of their clients’ activities.

5. Make an Initial Deposit: Once your application is approved, you’ll typically need to make an initial deposit to activate your account.

The Winning Application: Essential Documents to Open Your Account

To open a corporate bank account in Andorra, you’ll need to provide several documents. Here’s a list of commonly required items:

• Company bylaws
• Extract from the Andorran commercial registry
• Identification documents for directors and main shareholders
• Proof of address for directors
• Detailed business plan
• 3-year financial projections
• Tax residency certificate
• Proof of fund origins
• Commercial contracts or letters of intent from partners
• Directors’ resumes

Step by Step: The Procedure to Create Your Corporate Bank Account

Here are the main steps to follow to open your corporate bank account in Andorra:

1. Initial Contact: Contact your chosen bank to get information about their services and schedule an appointment.

2. Application Preparation: Gather all necessary documents and prepare your company presentation.

3. Branch Appointment: Meet with a bank advisor to present your project and submit your application.

4. Application Review: The bank will analyze your request, which may take several weeks.

5. Additional Information Request: It’s common for the bank to request additional documents or explanations.

6. Account Validation: Once your application is accepted, you’ll receive account opening documents to sign.

7. Initial Deposit: Make the required initial deposit to activate your account.

8. Access Reception: The bank will provide you with login credentials for your online account and your payment methods.

Andorra’s Banking Giants: Choose Your Ideal Financial Partner

Andorra has several reputable banks, each offering specific advantages for businesses. Here’s an overview of the main banks and their strengths:

1. Andbank – Advantages: – Wide range of services for international businesses – Expertise in wealth management – High-performance online banking platform

2. MoraBanc – Advantages: – Strong local presence and knowledge of the Andorran market – Innovative and digitized banking services – Personalized support for entrepreneurs

3. Crèdit Andorrà – Advantages: – Extensive international network – Varied financing solutions for businesses – Specialized services for specific business sectors

4. BancSabadell d’Andorra – Advantages: – Connection with the Spanish banking group Sabadell – Offers tailored for SMEs and start-ups – International trade services

5. Vallbanc – Advantages: – Personalized approach and customized service – Specialization in asset management – Flexibility for growing businesses

Conclusion: Your Springboard to Success in Andorra

Opening a corporate bank account in Andorra is a crucial step for any entrepreneur looking to establish themselves in this country with numerous tax and economic advantages. Although the process may seem complex, proper preparation and a clear understanding of the requirements will help you successfully complete this process.

Remember that your choice of bank is crucial for the future development of your business. Take the time to compare offers, meet with different advisors, and choose the institution that will best support your growth in Andorra.

With a corporate bank account in Andorra, you’ll benefit from a stable financial environment, advantageous taxation, and access to international markets. It’s a true springboard for your business success in this small country with big opportunities.