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Andorra has become an increasingly attractive destination for individuals seeking stability and high-quality financial services. Whether you are a resident or live abroad, opening a Private Banking account with Creand can be a key decision for managing your wealth securely and with a long-term perspective.
In this article, we explain, in a simple and clear manner, how this process works and what you can expect from our service.
1. Why open a Private Banking account in Andorra?
Andorra is synonymous with financial stability and quality of life. The country boasts a robust banking system, regulated by the Andorran Financial Authority (AFA), and international agreements that position it as a safe and transparent environment.
Andorra offers advantages such as:
- Moderate and stable taxation.
- A secure legal environment aligned with European standards.
- A banking system recognized for its solvency.
- A range of financial services tailored to each client’s profile.
Additionally, the Principality promotes a sustainable, high-value-added economic model that attracts individuals and families looking to manage their wealth with a forward-looking approach.
2. What does Creand’s Private Banking service offer?
At Creand, we understand Private Banking as a relationship built on trust, quality of service, and a commitment to meeting each client’s needs. Every client is supported by a dedicated team of experts offering tailored solutions.
The key aspects of our service include:
- Personalized advice. Each client has unique needs. Our team of bankers works with you to design a customized wealth strategy, taking into account your goals, time horizon, and risk tolerance.
- Flexible proprietary investment model. A client-centred model that prioritizes wealth preservation and protection.
- Comprehensive wealth management. From financial planning to investment management, tax optimization, access to international investment funds, or estate succession planning.
- Tailored solutions. We offer exclusive products and services, such as alternative investments, private equity, customized investment structures, or vehicles and access to global financial markets.
- Proximity and trust. We prioritize a direct and lasting relationship. Your private banker will be your trusted point of contact.
Our entire service model is grounded in the values that define us: commitment to the client, service excellence, innovation, sustainability, and continuous improvement.
3. What documentation is required?
Opening a Private Banking account is a streamlined yet rigorous process, aligned with international regulations on security and anti-money laundering prevention.
Below, we outline the standard documentation required for account holders, authorized persons, and beneficial owners:
For resident individuals:
- Valid Andorran passport or Andorran residence permit.
- Passport and ID document from the country of origin.
- Andorran social security card.
- Proof of tax residency in Andorra (tax certificate issued by the Andorran Department of Taxes and Borders).
- Proof of address (rental contract, utility bill (electricity, water, etc.)).
- Proof of the origin of funds (payroll, tax returns, asset sales, etc.).
- Information about professional or economic activity.
- Completed account opening and “Know Your Customer” (KYC) forms.
- Tax residency self-certification form and W8 or W9 form).
For non-resident individuals:
- Valid passport and ID document from the country of origin.
- Proof of address (rental contract, utility bill (electricity, water, etc.)).
- Proof of the origin of funds (payroll, tax returns, asset sales, etc.).
- Information about professional or economic activity.
- Completed account opening and “Know Your Customer” (KYC) forms.
- Proof of tax residency (signed tax residency self-certification, tax certificate issued by the tax authority of the country of origin, and W8 or W9 form).
For legal entities:
Company documentation (deeds, statutes, powers of attorney, annual accounts, beneficial ownership details, etc.), as well as proof of the origin of funds and economic activity. Additionally, proof of tax residency as outlined for individuals and the W8BEN or W9 form.
Note: Depending on the country of origin or client profile, additional documentation may be required to comply with regulations (e.g., translations or Hague Apostille).
4. What services can you access once the account is opened?
A Private Banking account with Creand unlocks a wide range of services designed to preserve and grow your wealth.
Some of the key services include:
- Discretionary portfolio management. Entrust our experts with the active management of your assets, with strategies tailored to your risk profile.
- Financial advisory. To help you make informed decisions aligned with your personal and legal circumstances.
- Access to international investments. Global opportunities through investment funds, securities, and international financial products.
- Estate and succession planning. To ensure the continuity and protection of your legacy.
- Financing. Solutions to manage your assets securely and, if needed, access liquidity, personalized financing, or corporate financing efficiently.
- Cryptoasset services. CryptoWallet, a digital service available to bank clients, enabling secure custody and buying/selling of digital assets and cryptocurrencies.
5. Why entrust your wealth to Creand?
At Creand, trust is the cornerstone of our approach. We are defined by four essential values that guide every relationship and decision:
- Empathy and proximity. We listen, understand, and support. We treat each client with sensitivity and personalized attention. For us, Private Banking begins with a human and high-quality relationship.
- Pioneers. We have a forward-looking vision and a strong track record of innovation in financial services. We focus on advanced solutions and investment strategies designed to anticipate your needs and global changes.
- Service excellence. We are dedicated to providing all resources at your disposal to deliver efficient, expert, and agile service. We offer quick responses and transparent management at every step.
- Commitment. We are a financial group rooted in the country, with a dedication to service and social responsibility. We are committed to sustainability, financial security, and creating long-term value for you and society.
6. How to start the process of opening a Private Banking account?
If you wish to open a Private Banking account, you can do so in person or begin with a virtual meeting. Our team will be delighted to assist you, with no obligation, to understand your situation and guide you through each step.
Contact us through our website, by phone, or by scheduling a visit.
At Creand, we are by your side to help you protect and preserve your wealth with confidence, security, and personalized care.
