{"id":3406,"date":"2020-06-11T18:14:00","date_gmt":"2020-06-11T16:14:00","guid":{"rendered":"https:\/\/www.augelegalfiscal.com\/banks-in-andorra\/"},"modified":"2020-06-19T12:58:20","modified_gmt":"2020-06-19T10:58:20","slug":"banks-in-andorra","status":"publish","type":"post","link":"https:\/\/www.augelegalfiscal.com\/en\/banks-in-andorra\/","title":{"rendered":"Banks in Andorra"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3406\" class=\"elementor elementor-3406 elementor-3329\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-39bed66e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"39bed66e\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60de6f23\" data-id=\"60de6f23\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2d563045 elementor-widget elementor-widget-heading\" data-id=\"2d563045\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #8f2b2f;color:#8f2b2f\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #8f2b2f;color:#8f2b2f\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.augelegalfiscal.com\/en\/banks-in-andorra\/#Banks_in_Andorra\" >Banks in Andorra<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.augelegalfiscal.com\/en\/banks-in-andorra\/#376_803_636\" >+376 803 636<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Banks_in_Andorra\"><\/span>Banks in Andorra<span class=\"ez-toc-section-end\"><\/span><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-738dbfa6 elementor-widget elementor-widget-text-editor\" data-id=\"738dbfa6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The <strong>Andorran financial system<\/strong> is one of the main pillars of the Andorran economy. According to the <a href=\"https:\/\/www.andorranbanking.ad\/es\/\" target=\"_blank\" rel=\"noopener\">Andorran Bank Association<\/a> (ABA), this sector, together with the insurance sector, represent approximately 20% of the gross domestic product.<\/p>\n<p>The banking sector has more than 85 years of experience and is made up of five strong banking groups. This is the list of the banks in Andorra: <a href=\"https:\/\/www.andbank.com\/\" target=\"_blank\" rel=\"noopener\">Andbank<\/a>, <a href=\"https:\/\/www.bsandorra.com\/\" target=\"_blank\" rel=\"noopener\">Banc Sabadell d\u00b4Andorra<\/a>, <a href=\"https:\/\/www.creditandorragroup.com\/es\" target=\"_blank\" rel=\"noopener\">Credit Andorr\u00e0<\/a>, <a href=\"https:\/\/vallbanc.ad\/es\/\" target=\"_blank\" rel=\"noopener\">Vallbanc<\/a> and <a href=\"https:\/\/www.morabanc.ad\/\" target=\"_blank\" rel=\"noopener\">Mora Banc<\/a>.<\/p>\n<p>In recent years, the Andorran financial system has faced numerous legislative changes, such as the implementation of regulations on issues of fiscal transparency, measures for international cooperation to fight crime and focused on anti-money laundering and fighting against financing of terrorism. There has also been an evident evolution in banking regulation.<\/p>\n<p>Hence, opening a bank account is much more complex than in other countries. \u201cKnow your clients\u201d (KYC) are increasingly demanding and extensive. Therefore, it is not surprising that, when opening a bank account in Andorra, entities increasingly require more personal information and want to know more details about the operation that the client will carry out with the bank account.<\/p>\n<p>Additionally, it is important to bear in mind that Andorra, being part of the OECD, is subject to the automatic exchange of information or the Common Reporting Standard (CRS) that establishes the way in which the competent authorities of the countries adhering to this standard exchange information regarding financial accounts. The objective of the CRS is to fight against tax evasion.<\/p>\n<p>Therefore, Andorran banks strictly comply with all the measures required by international regulations to avoid tax fraud and money laundering.<\/p>\n<p>Finally, one of the latest developments in the sector has been the accession to SEPA of the five Andorran banking entities, becoming part of the Single Euro Payments Area (SEPA).<\/p>\n<p>By joining SEPA, the banks of the Andorran financial market became part of the geographical area in which it is possible to make and receive payments in euros with the same conditions and the same rights and obligations, regardless of where they are located.<\/p>\n<p>Consequently, thanks to SEPA the commissions are lower and it is not necessary to use SWIFT to make transfers between the members of the Single Euro Payments Area.<\/p>\n<p>Our firm has a team specialized in <a href=\"https:\/\/augelegalfiscal.com\/en\/area-legal\/banking-compliance\/\">banking compliance<\/a> that works with all of the banks in Andorra and that can help you open a bank account in Andorra, as well as in your communication with the bank.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ddb11aa elementor-widget elementor-widget-text-editor\" data-id=\"ddb11aa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em> Data extracted from the Andorran banking annual report.<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24738642 elementor-widget elementor-widget-text-editor\" data-id=\"24738642\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/augelegalfiscal.com\/en\/the-firm\/our-team\/#pere-auge\"><b>Pere Aug\u00e9<\/b><\/a><\/p>\n<p>CEO<\/p>\n<p><span style=\"color: #a22d58;\">Aug\u00e9 Legal &amp; Fiscal<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7742a5c4 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7742a5c4\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5d1b0fd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5d1b0fd\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-7e9ddf18\" data-id=\"7e9ddf18\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2dbb0a5b elementor-widget elementor-widget-heading\" data-id=\"2dbb0a5b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Do you want to contact one of our professionals?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-343beda elementor-widget elementor-widget-shortcode\" data-id=\"343beda\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">[contact-form-7 id=\"124\" title=\"Formulario de contacto 1\"]<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-66e12dbf\" data-id=\"66e12dbf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9e49cf8 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"9e49cf8\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<i aria-hidden=\"true\" class=\"fas fa-phone-alt\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-21e9df99 elementor-widget elementor-widget-heading\" data-id=\"21e9df99\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"376_803_636\"><\/span>+376 803 636<span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64b5105f elementor-widget elementor-widget-text-editor\" data-id=\"64b5105f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If you wish, you can call us by phone and we will personally attend to your request.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f77ad48 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3f77ad48\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-714b7a47 elementor-widget elementor-widget-text-editor\" data-id=\"714b7a47\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>You can also contact our team by sending your inquiry to the following email:\u00a0<a href=\"mailto:info@augelegalfiscal.com\">info@augelegalfiscal.com<\/a>\u00a0or contact us via WhatsApp (Tel:\u00a0<a href=\"tel:00376333376\">+376 33 33 76<\/a>).<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Banks in Andorra The Andorran financial system is one of the main pillars of the Andorran economy. According to the Andorran Bank Association (ABA), this sector, together with the insurance sector, represent approximately 20% of the gross domestic product. The banking sector has more than 85 years of experience and is made up of five [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3334,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,12],"tags":[],"class_list":["post-3406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auge","category-12"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/posts\/3406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/comments?post=3406"}],"version-history":[{"count":1,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/posts\/3406\/revisions"}],"predecessor-version":[{"id":3407,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/posts\/3406\/revisions\/3407"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/media\/3334"}],"wp:attachment":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/media?parent=3406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/categories?post=3406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/tags?post=3406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}