Opening a Bank Account in Andorra: A Complete Guide for Residents and Non-Residents
Can you open a bank account in Andorra?
Yes. Both residents and non-residents can open a bank account in Andorra, provided they meet the requirements established by the banks.
In our experience, one of the most common misconceptions is that the process is complicated. In reality, if the required documentation is prepared correctly from the outset, the procedure is usually much smoother and unnecessary delays can be avoided.
Our advice is to check each bank's requirements in advance, as they may vary depending on the customer's profile and the type of account they wish to open.
Opening a bank account in Andorra as a non-resident
We are receiving an increasing number of enquiries from people who want to open a bank account in Andorra as non-residents, particularly for investment, wealth management or because they plan to relocate to the country in the future.
We have found that one of the most common mistakes is starting the process without having all the documentation relating to the source of funds. In these cases, opening the account may take longer than expected.
For this reason, we recommend preparing all the required documentation before arranging an appointment with the bank. Although each institution has its own procedures, submitting a complete application usually speeds up the process considerably.
Requirements before opening a bank account in Andorra
Requirements may vary from one bank to another, but the following documents are generally requested:
- Identity document or passport
- Proof of residence or tax residency
- Information about your professional activity
- Documentation proving the source of funds
Our experience shows that transparency throughout this process is essential. Andorran banks apply strict regulatory compliance and anti-money laundering controls, and providing complete information from the beginning makes it much easier for your application to be approved.
What Is the Account Opening Process?
- Choose the bank that best matches your profile (resident, non-resident, investor, or business owner).
- Prepare all the required documentation before contacting the bank.
- Contact the bank to confirm its specific requirements. Some banks allow you to start the application online, although the response may take several days.
- Schedule an appointment. In practice, the final account opening almost always requires a visit to a branch in Andorra to complete the mandatory identity verification (KYC/AML).
- Complete the compliance checks and sign the account opening documents.
If your documentation is complete from the outset, the entire process usually takes between two and four weeks. The most common cause of delays is failing to provide adequate proof of the source of funds from the very beginning.
How Much Money Do You Need to Open a Bank Account in Andorra?
The required amount depends on the type of banking service. Commercial banks generally require an initial deposit starting at around €1,000, while private banks (such as Andbank or the private banking divisions of Creand and MoraBanc) require significantly higher minimum amounts, as these services are intended for wealth management rather than everyday banking.
If you are a resident, opening a standard bank account does not usually involve a specific account-opening fee. However, the account is not free. Annual maintenance fees typically range from €60 to €150, with additional charges for debit cards (€30–€60) and credit cards (€60–€120). Some institutions, particularly in private banking, may also charge higher account administration fees. It is advisable to compare the conditions offered by each bank before making a decision.
Need help opening a bank account in Andorra?
If you need advice on opening a bank account in Andorra, our team can guide you through every step of the process, answer your questions and advise you on the documentation required and the bank that best matches your profile.
Contact us and we will help you open your bank account in Andorra quickly, easily and with the support of specialised professionals.
