Setting up a business and immigration requirements.
The following models of entities exist to create companies in Andorra:
The SL “Sociedad Limitada”, a limited liability company with a minimum capital of 3,000 euros.
La SA “Sociedad Anónima”, a public limited company model with a minimum capital of 60,000 euros.
STEP BY STEP:
- Application for investment authorisation
- Application for the name of the new company
- Pre-opening of the bank account for the company
You submit an application for opening a bank account with the documents required by the bank. You must explain your activity, the origin of funds and present your profile with complete transparency. You must estimate between one week and up to 4 weeks to have your account pre-authorized.
- Incorporation and registration of the company in the mercantile registry:
The statutes are formalized before an Andorran notary and the company is registered in the Andorran mercantile registry.
- Opening of the company’s trade:
The opening of commerce is requested. At this moment you must have the address of your company, an electric bulletin of your office or local and a contract in force of a fire extinguisher in the address of your company.
Documents that you must provided before the registration procedure:
- Proof that the manager and his partners have no criminal record in their countries of origin
- The (valid) passport of the current country of residence of the manager and his partners,
- A written document detailing the company’s business plan and investment strategy (projected budget, expected financial results, etc.),
- The outline of the company’s statutes,
- The decision taken with regard to the company name,
- The certification of the opening of a bank account, in the name of the company, carried out in an Andorran bank (with deposit of the share capital).
- At the end of the process of creating your company or company in Andorra, a notarial deed validates these formalities and registers the company at the Mercantile Registry of the Government of Andorra. The company then has legal personality.