Personal Account Opening in Andorra
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FACTS & INFO
About the Bank
ABOUT THE BANK
Crèdit Andorrà Bank was founded in 1949. At present, Crèdit Andorrà is the leading bank in the country in terms of assets with $16 bln.
Crèdit Andorrà holds the position of leadership in the Andorran market and enjoys from an international prestige, evidenced by the awards received on the last 20 years. “Fitch Ratings” international bank rating agency has granted Crèdit Andorrà as one of the most solvent and best managed bank in the world: Long Term Rating A-, Individual Rating: B/C, Short Term Rating: F2, Outlook: Stable.
Crèdit Andorrà has offices in Switzerland, through its company Private Investment Management S.A.; in Luxemburg we operate through two SICAV; in Madrid, through its company Valira Capital Asset Management; and in Panama, through Banco Crèdit Andorrà (Panamá), S.A.
The Banker Magazine, a business publication owned by the Financial Times Group, has selected Crèdit Andorrà SA as the Best Bank in Andorra a record seven times in the past ten years.
WHAT CREDIT ANDORRA BANK OFFERS:
- Multicurrency bank accounts
- Time deposits
- Fixed income: bonds, high yields, preferred shares, floating rate notes, futures and options, commodities, etc.
- Debit and Credit cards: Visa/MasterCard.
- Private Banking.
- Tax and wealth Planning.
- Investment Advisory Services.
- Personalized individual tailor-made treatment (two key account managers per client).
- Assistance in obtaining passive residence in Andorra.
- Call-money, time deposits and fiduciary investment deposits
- Multilingual customer support (German, English, Italian, Russian, French, Spanish,Portuguese, Slovenian, Croatian, Serbian.)
The approximate timeframe for account allocation is within 4 weeks, upon receipt of the original documents by the bank.BANK TARIFFS AND CHARGES
Credit Andorra can be considered as a medium-cost bank with respect to transfer fees and account maintenance. The account maintenance fee is EUR 60, paid biannually and the inoperative/inactive account fee is EUR 250, paid quarterly. The bank's fees on international payment transfers from abroad and transfers within Andorra are Nil.
- PLEASE NOTE that bank tariffs may be changed anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.
- STARTING BUSINESS professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.
REQUIREMENTS FOR PERSONAL ACCOUNT SET UP WITH CREDIT ANDORRA:
- Personal visit to the bank is advisable but it is possible to arrange a face-to-face meeting with bankers in client's home country.
- No initial deposit required.
- No standard minimum balance required, but the preferable minimum amount is EUR 100 000 or EUR 200 000.
- Account opening timeframe. The account will be activated within 4 weeks, upon receipt by the bank of all duly completed forms and relevant information.
- Notarized copy of valid passport. The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
- Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of Banker's reference letter dated within 3 months.
- Personal CV
Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and will be USD 130. Please be advised that there will be some exceptions where the fee might be higher.