Opening a bank account in Andorra: procedure and documents
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The short answer
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.
Reference values
| Item | Verified value |
|---|---|
| Opening time | Varies by bank and file; ask in writing |
| Minimum deposit required by some banks | Varies by bank; ask in writing |
Steps
- Choose one or two banks according to your needs. See the comparison.
- Book an appointment and explain your relocation plans clearly.
- Hand in the complete file.
- Wait for compliance approval.
- Sign and activate the account.
Standard file
- Valid identity document.
- Proof of address (recent).
- Proof of income and of the origin of funds (contracts, tax assessments, statements).
- Documents relating to your residency status, in progress or obtained.
- For a purchase project, the preliminary contract or reservation. See buying.
Why banks ask so many questions
Andorran banks are subject to the anti-money-laundering law (Llei 14/2017, amended by Llei 37/2021). They must identify their customers, understand the origin of funds and know the beneficial owner. A consistent file speeds up the opening.
The usual documents
| Document | Why |
|---|---|
| Valid identity document | Identification |
| Residence permit or proof of the application in progress | Status |
| Proof of address in Andorra | Address |
| Proof of income or assets | Origin of funds |
| Certificate of activity or employment contract | Consistency of the profile |
Banking services and the IGI
Banking and financial services bear an increased IGI of 9.5 %verified on 09/10/2026: find out about the pricing before choosing. For detailed prices, ask for a written fee schedule.
Timescales and minimums
The opening time and the minimum deposit vary by bank and file: ask for them in writing. See the comparison of criteria.
Open before or after residency?
Many banks ask for proof of the residency application. The account is also useful for passive residency (investment) and for the payment to the Andorran Financial Authority: see passive residency and non-resident account.
Work out your own case
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Frequently asked questions
What documents do you need to provide?
Identity document, proof of address, proof of activity or resources, origin of funds, and sometimes a tax assessment and certificates of tax residence.
Why does a bank refuse an application?
Unclear origin of funds, inconsistent plans, risk profile, incomplete documents. Refusals are rarely explained in detail.
Do you have to travel to Andorra?
Most banks require an in-person meeting.
What fees should you expect?
Account maintenance fees, cards, international transfers. They vary by bank and offer; compare them.
Can you keep your French account?
Yes, and it is common. An account in your home country remains useful. Reporting of foreign accounts follows the rules of your country of tax residence.
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.