Andorra, officially the Principality of Andorra, is a sovereign landlocked country and microstate on the Iberian Peninsula, in the eastern Pyrenees, bordered by France to the north and Spain to the south. Believed to have been created by Charlemagne, Andorra was ruled by the count of Urgell until 988, when it was transferred to the Roman Catholic Diocese of Urgell. The present principality was formed by a charter in 1278. It is currently headed by two co-princes: the bishop of Urgell in Catalonia, Spain and the president of France. Its capital and largest city is Andorra la Vella.
Andorra is the sixth-smallest state in Europe, with an area of 468 square kilometres (181 sq mi) and a population of approximately 79,034. The Andorran people are a Romance ethnic group closely related to Catalans. Andorra is the world's 16th-smallest country by land and 11th-smallest by population. Its capital, Andorra la Vella, is the highest capital city in Europe, at an elevation of 1,023 metres (3,356 feet) above sea level. The official language is Catalan, but Spanish, Occitan, and French are also commonly spoken.
We work with 1 different banks in Andorra, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.
Andorra, officially Principality of Andorra, is a European microstate that holds a unique place on the continent. It is a sovereign landlocked country located in the eastern Pyrenees Mountains, covering an area of approximately 468 square kilometres, sharing its borders with France to the north and Spain to the south and west. Andorra's capital city is Andorra la Vella, which is also the country's largest city. The official language is Catalan, but Spanish, Occitan, and French are also commonly spoken. Its official currency is the Euro (EUR).
The country is the sixth-smallest state in Europe, the 16th-smallest country in the world by land and the 11th-smallest by population.
Believed to have been created by Charlemagne, Andorra was ruled by the count of Urgell until 988, when it was transferred to the Roman Catholic Diocese of Urgell. The present principality was formed by a charter in 1278.
The present principality has a unique political system characterised by a co-principality. It is jointly ruled by two co-princes—the President of France and the Bishop of Urgell in Spain. This arrangement has historical roots dating back to medieval times when Andorra was granted sovereignty by its co-princes. The country's political structure is a parliamentary democracy, with a government led by a Prime Minister.
Andorra has a tradition of political stability, with a strong commitment to democracy and the rule of law. The population actively participates in the country's political process through regular elections and a multi-party system.
Andorra has a diplomatic presence on the international stage. It maintains a special relationship with the European Union (EU) through a customs agreement, although it is not an EU member. The country is also a member of the United Nations (UN), the Organization for Security and Co-operation in Europe (OSCE), and various international organisations, contributing to global initiatives and development programs, such as the World Trade Organization (WTO) and International Monetary Fund (IMF).
The economy of Andorra has evolved significantly over the years and it has a thriving economy. Traditionally, it relied heavily on agriculture, particularly the cultivation of tobacco, rye, and wheat. However, in recent decades, the country has diversified its economic base. Today, tourism plays a significant role in the nation's economy, drawing visitors with its ski resorts, hiking trails, and duty-free shopping. Andorra has become a popular destination for winter sports enthusiasts and shoppers looking for affordable luxury goods.
Andorra is also known for its banking and financial services sector, which offers financial stability to individuals and companies alike. The country's advantageous tax framework attracted foreign investments and businesses, contributing to its economic prosperity.
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.
Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (20% to partly cover service and payment processing and administrative costs apply).