Banking in Andorra

[liroyb]

How safe Andorra as banking jurisdiction nowadays? Which bank would you recommend for non-resident, CreAnd or Andbank?

 

[pomegranate]

Non-resident accounts are under special scrutiny nowadays. I looked at all this a while ago so I might not be the most up-to-date. From what I hear you can still open an account but the best chance is through connections. You need to have a compelling rationale for opening a bank account in Andorra as a non-resident. It will take time....

Safety is an elusive concept. Which risks are you most concerned about?

 

[Martin Everson]

AndBank has a Fitch rating of BBB

https://www.fitchratings.com/resear...tlook-to-stable-affirms-idr-at-bbb-28-09-2022
Credit Andorra has Fitch rating of BBB-

https://www.fitchratings.com/resear...edit-andorra-at-bbb-outlook-stable-15-09-2023

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Martin Everson]

@liroyb You could also consider MoraBanc as a non-resident.


https://www.morabanc.ad/en/open-account/

MoraBanc Group has Fitch Rating of BBB-

https://www.fitchratings.com/resear...ra-banc-grup-at-bbb-outlook-stable-08-10-2021

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[kilor]

personal visit is required to open an account in Andorra bank right ?