Financial Compliance Consulting in Andorra
If you plan to work with important capital investments and financing out of Andorra you will have to meet certain compliance criteria and get the approval of local banks and from the INAF (Institut Nacional Andorrà de Finances). Andorra is on a strict path of anti-money laundering prevention and compliance is sometimes very demanding and it may be tricky to provide all the information and documents required. We are focusing on this particular process as it is fundamental for larger companies with subsidiaries and international financing flows / cash pooling.
Andorra is trying to incentivize the operation of international financial investment companies with the 2% tax regime for this activity, however strict compliance guidelines must be met and we may accompany you in your journey with a strategy to go through this process the most efficient and speedy way.
Certain entities operating in Andorra’s financial system are supervised and controlled by the INAF and therefore they must comply with the legal and regulatory provisions defined by the INAF. For example banks, non-banking companies with specialized loans, financial companies managing collective investment schemes and financial investment companies. The purpose is to maintain and reinforce the principles of ethics and behavior to strengthen Andorra’s position on anti-money laundering and keep building its credibility as a safe and serious international financial center.
We will be pleased to discuss further details with your CFO for the set up of a specific entity with financial activity.