Banking in Andorra: accounts, conditions and choosing a bank
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The short answer
The Andorran banking sector has a few solid banks that apply strict checks when opening an account. Allow for complete supporting documents, time, and an approach consistent with your residency status.
Key points
- The bank is a structuring step: it is required for the residency application, for buying property and for setting up a company.
- Banks carry out an in-depth check on the origin of funds. A clear, consistent and documented file goes through more easily.
- Conditions vary from one bank to another.
The guides
Why the bank is a structuring step
It is required for residency (payment or deposit depending on the status), for a property purchase and for setting up a company. Banks apply the anti-money-laundering law: identification, origin of funds, beneficial owner.
What it costs
Banking and financial services bear an increased IGI of 9.5 %verified on 09/10/2026. Ask for a written fee schedule. The opening time and the minimum deposit vary by bank: ask for them in writing.
Where to start
| Need | Page |
|---|---|
| Personal account | Personal account |
| Company | Corporate account |
| Comparison criteria | Comparison |
| Non-resident | Account without being a resident |
Comparing Andorran banks: factual criteria for choosing
There is no universally best bank in Andorra: the choice depends on your status, your needs (international, property, business), the language of service and the fees. Here is the grid of criteria to use for comparing.
ReadOpening a bank account in Andorra: procedure and documents
To open an account in Andorra, a bank asks for an identity document, proof of address, and evidence of the origin of your funds and of your plans. A resident's file is simpler than a non-resident's, but the checks remain thorough.
ReadCompany bank account in Andorra: KYC, substance and supporting documents
For a company, a bank asks for the articles of association, the identity of the beneficial owners, a description of the business and proof of substance in Andorra. A company with no real activity or clear link to the country has little chance of getting an account.
Read
Frequently asked questions
Can I open an account in Andorra without living there?
Some banks accept non-residents under conditions, others do not. The requirements for justification and for a business relationship are stronger.
How long does it take to open an account?
The verified indicative timeframe is shown in the table on the personal account page.
Is there a minimum deposit?
Some banks set deposit or relationship conditions. See the values on the dedicated page.
Is my account protected?
A deposit guarantee scheme exists in Andorra. The ceilings and conditions must be checked with the competent authority.
Can I open an account without being a resident?
Yes, if the file is solid: a clear economic reason, documented origin of funds, consistency with a project in Andorra.
What is the minimum deposit?
It varies by bank: ask for it in writing.
Going further
Official sources
This information is general and is not personalised legal, tax or financial advice. It is verified as of the date shown and may change.