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Open ANDORRA Bank Account

Offshore Bank

List of Andorra Banks
Offshore Bank in Andorra.  

Banks are solid, and there are no capital or exchange controls. Numbered accounts are said to be known about only to you, your banker and God. Strict anti-money laundering legislation stops criminal activity, but excludes tax avoidance which is no crime in Andorra.

Banc Agricoli Comercial D`Andorra, S.A. Banca Privada D`Andorra

Andorra la Vella Av. Carlemany, 119
Andorra Escaldes-Engordany
Tel.: 376 821 333 Les Escaldes
Fax: 376 861 361 AD 700
Tel.: 376 873 501
Fax: 376 873 515
Banc Internacional D'Andorra Credit Andorra S.A.

Av. Meritxell, 96 Av. Meritxell, 80
Andorra la Vella Andorra la Vella
Andorra Andorra
AD 500 Tel.: 376 888 888
Tel.: 376 884 705 Fax:
Fax: 376 884 499

In June, 2004, however, Andorra was obliged to accept the EU's Savings Tax Directive, and as from July, 2005, is imposing a withholding tax of 15% on returns on savings paid to citizens of Member States of the EU, of which 75% is remitted onwards to the States concerned. In March 2009, Andorra’s government announced that it would cooperate with OECD principles by reaching tax information exchange agreements by November 2009, when it will pass legislation to ease its banking secrecy controls.
There are no taxes in Andorra for companies or individuals other than modest annual registration fees, municipal rates, property transaction taxes, and a sliding scale capital gains tax introduced in 2007. The problem for offshore enterprises is that Andorra insists on two-thirds majority ownership of all types of business entity by Andorran nationals or long-stay residents. Although nominee arrangements can bypass this problem in day-to-day terms, the legal reality remains. There are no special regimes for 'offshore' entities and no trusts (Andorra is a civil law jurisdiction).  This has tended to limit Andorra's offshore business to wealthy individuals.

Immigration Controlled by Residence and Work Permits

To encourage immigration by high-net-worth individuals (often retired) the Government offers Passive Residence Permits, which are not cheap. Otherwise, long term residence is only possible to those with work permits, which are controlled by quotas.
Nevertheless, privacy is a biggest attraction in these 'Tax Free Zones' of the world.
We make offshore bank account setup easy: Just a copy of your passport "legalized" or ID required.

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