Andorra banking help?

[sinos]

Is corporate bank account for a business incorporated in Andorra for a non-resident individual (UAE resident) possible in Andorra? For crypto cashout and involving 6 figures per transaction.

 

[ActionMan]

Yes, it's possible.

I was able to open an account with Andbank in 2019 by simply depositing a 150k and providing my EU Passport and address, I still use the account to transact in the mid 6 figures from lux to andorra and vice versa. A lot of things have changed since then, but it's still doable.

 

[JohnLocke]

A lot of things have changed since then, but it's still doable.

Do you have more relevant experience from recent times? What you are referring to is almost 5 years old

 

[ActionMan]

Yes, now for non resident bank account, Andbank private banking requires a minimum deposit of 500K - 1 mil depending on your country of Origin and the Origin of your funds. along side the well-know KYC and AML checks.

 

[Martin Everson]

OP is talking crypto cashout here. You saying Andbank is ok with proceeds from crypto for a non-resident run Andorra company?

 

[ActionMan]

OP is talking crypto cashout here. You saying Andbank is ok with proceeds from crypto for a non-resident run Andorra company?

Yes.

for non resident companies and individuals. Andbank will Consider opening a corporate bank after being a private client with them

But for Andorran companies, Andbank will consider it if the company has actual operations in the country and it's not just a shelf company. other wise the above points apply.

Btw, I send money from kraken to my andbank account without any major setbacks.

 

[dragosaurus]

Yes, it's possible.

I was able to open an account with Andbank in 2019 by simply depositing a 150k and providing my EU Passport and address, I still use the account to transact in the mid 6 figures from lux to andorra and vice versa. A lot of things have changed since then, but it's still doable.

Online or in person ?

 

[ActionMan]

Online or in person ?

in person