AMA (Ask Me Anything): Navigating the Evolving Banking Landscape in Andorra

[ActionMan]

Hello everyone! I'm here to host an AMA session about the dynamic and evolving banking landscape in Andorra (inspired by the post @sinos made earlier). With my experience in opening and managing a bank account in Andorra, particularly with Andbank, and navigating the mid-six-figure transactions to and from my andorran bank, I am here to share insights and answer your questions.

Whether you're curious about the process of opening an account as a non-resident, the regulatory changes in Andorra's banking system, the minimum deposit requirements, or just seeking general advice on Andorran banking, I'm here to help.

Feel free to ask me anything about:

• The process and requirements for opening a bank account in Andorra.
• Experiences with Andorran banks like Andbank and others.
• Managing large transactions and banking operations in Andorra.
• Crypto Cashout in andorra and the creative process behind it
• The impact of international compliance norms on Andorran banking.
• Tips and considerations for non-residents looking to bank in Andorra.

P.S I'm considering making this a daily series where I can share my experiences with this community from Crypto to banking and general offshore chit-chats.

Looking forward to your questions and having a great discussion!

Last edited: Dec 19, 2023
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One-Stop Solutions​

Payment Processing ✓ | Offshore Bank Accounts ✓ | â‚¿ Crypto On-Off Ramping Services ✓ | High-Risk Industries ✓​

Let's connect: DM me on Telegram HERE

Russian, LATAM and MENA : SBP, Visa/MasterCard/JCB/MIR?/wallets available | local OTC/e-wallets available per request.​

 

[maxxs]

So how do you cash out crypto in Andorra? I've heard that Andorran banks are unfriendly towards cryptocurrency stuff.
Any andorran advisor that you can recommend?

 

[Frank in Bangkok]

ActionMan said:
P.S I'm considering making this a daily series where I can share my experiences with this community from Crypto to banking and general offshore chit-chats.
Click to expand...

@ActionMan -

I'm looking forward to your "daily series" comments.
Even a weekly series would be helpful.
Heck, a monthly series would be good.

 

[crassus54]

Will Andorra protect against extradition from EU/North America?

 

[ActionMan]

Frank in Bangkok said:
@ActionMan -

I'm looking forward to your "daily series" comments.
Even a weekly series would be helpful.
Heck, a monthly series would be good.
Click to expand...

Me too, didn't know that I would be THAT busy with clients. it's getting out of hand. Will update you soon!

maxxs said:
So how do you cash out crypto in Andorra? I've heard that Andorran banks are unfriendly towards cryptocurrency stuff.
Any andorran advisor that you can recommend?
Click to expand...

A mix of audited contracts between my HK company and Andorran one, where my Andorran company provides services to my Hk One, in exchange I receive funds from DBS HK to Andbank. All is done via Trusted OTC desks in HK.

CASES & LACAMBRA is good, but expensive and will not do things the way you might want it to happen.

crassus54 said:
Will Andorra protect against extradition from EU/North America?
Click to expand...

No. they won't.

For NA/EU, Russia, Kyrgyzstan, and HK will do the job as long as you keep it lowkey.

Last edited: Apr 13, 2024
Toggle signature

One-Stop Solutions​

Payment Processing ✓ | Offshore Bank Accounts ✓ | â‚¿ Crypto On-Off Ramping Services ✓ | High-Risk Industries ✓​

Let's connect: DM me on Telegram HERE

Russian, LATAM and MENA : SBP, Visa/MasterCard/JCB/MIR?/wallets available | local OTC/e-wallets available per request.​

 

[Arnage]

Does having a private bank account as a non-resident help with also getting a corporate bank account for your company? What is the right thing to say to the curious bankers to be allowed a business bank account in Andorra for an Andorran company?

 

[jorge]

If it's with a regular bank that handles both personal and business clients, it usually helps to keep all your business with the same bank, at least when it comes to your relationship with that one bank. Of course, you shouldn't keep everything in one place for security reasons.