Company bank account in Andorra: KYC, substance and supporting documents
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The short answer
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.
What a bank wants to understand
- Who controls the company? Identity and source of wealth of the directors and beneficial owners.
- What does the company do? Activity, customers, suppliers, expected flows.
- Why Andorra? A real link with the country (office, team, customers, residence of the directors).
Usual documents
- Articles of association and registration extract.
- Identity documents and supporting documents for the directors and beneficial owners.
- Business plan or detailed description of the activity.
- Proof of the office or place of business. See registered office.
- Paid-up capital: 3,000 €verified on 09/10/2026 for an SL.
Time to open: varies depending on the bank and on how complete the file is; ask for it in writing.
The legal framework the bank applies
The bank applies the anti-money-laundering law (Llei 14/2017, amended by Llei 37/2021), which also requires Andorran companies to identify their beneficial owners and report any change. The register is not public: it can be consulted by the authorities and by people who can show a legitimate interest.
The timeline of an incorporation
The capital is paid up by an actual contribution (3,000 €verified on 09/10/2026 minimum for an SL), the deed is signed before a notary and the company is then entered in the register. The operating account is opened afterwards: allow for that delay. See incorporation steps.
A file that reassures
| Item | What the bank wants to see |
|---|---|
| Activity | Detailed description, customers, suppliers, expected flows |
| Link with Andorra | Office, team, residence of the directors, customers |
| Structure | Articles of association, beneficial owners, chain of ownership |
| Source of funds | Evidence of the contribution and of the first flows |
| Substance | Effective management in Andorra: substance |
For a non-resident partner
A foreign investment authorisation comes before incorporation: a decision within 2 monthsverified on 09/10/2026, extendable by 1 monthsverified on 09/10/2026, with silence amounting to refusal. See creating a company without living there.
For a holding company
The bank examines the purpose of the structure and its substance: see the holding company guide.
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Frequently asked questions
Can an account be opened before the company is registered?
In practice, a bank may open a capital deposit account while the company is being formed, then the current account after registration. It depends on the institution.
What is a beneficial owner?
The natural person or persons who ultimately control the company. Banks are required to identify them.
Why are refusals frequent?
Unclear activity, lack of substance, atypical flows, complex structure. A clear business plan improves the chances.
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.