Steps to create a company in Andorra - PSF Consultoría empresarial

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Steps to create a company in Andorra

In Europe we have being for a few decades trying to standardize our corporate and fiscal systems as much as possible. It is intended that all countries have a certain range of taxes, corporate forms and procedures. Unfortunately, in Andorra, despite the rapid improvement, we are still very far from being in good levels of homologation. As Spain, for example, is not at a good shape in the face of its normative homologation, it is somewhat less noticeable, but it is true that Andorra has a great number of processes for creating a society are confusing. Lets review the process step by step.
 
First, it is necessary to make the reservation of the social denomination that we want. This is trivial, since it requires nothing more than to think a name and see if it is available. At present it carries a fee of € 5.36.

The second part, only existing for foreigners, is the dreaded request for foreign investment. This application, which will mark the whole process, consists of a kind of mini business plan with some really ambiguous questions. If you do not know how to do it, it is to go crazy and it is usual to cost an eternity at the level of time and the inaccuracies can take a great price later at the level of the process itself or processes beyond the existence of society. Hence many people are very unhappy with this part of the process, in which there has been more than one desertion. A photocopy of the ID is also required (ideally apostilled by an Andorran notary, who charges a little more than € 12 for the procedure) and a criminal record with apostille. There are many problems here, because criminal records if they are not with apostille, are not worth. Be careful with this.

Third part, deal with the bank. Be careful because lately banks are putting many obstacles if the investment comes from outside, so you should reserve a good amount of time. They ask for data of the applicant, as well as the request for foreign investment and depending on the bank additional documentation. Not all banks do these operations, many simply ask for huge amounts of paper as a way of saying "we do not do it".

Then, it is necessary to sign the statutes, take care with that because in Andorra there are no standard statutes and they have to be taken to the notary already made. They are reviewed by an officer of the same in case that they are wrong, but if we do not have them it will have a cost. The government charges a fee of about 957.77 € and the notary another one about 530 €. I have not been wrong with the numbers. This part will require absolutely all the papers that have been obtained during all the previous process, those of the bank, reservation, investment request, statutes and ID mainly.

And with this society is already, only remains the residence if it is the case and the signup in commerce, that neither are minor matters and will be treated in another occasion.

 

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About the Author

I finished the degree in Development of Computer Applications in Alcañiz and later I entered the financial market first as a systems programmer and then as a trader. During those years I finished my DBA Degree in the UNIR and later I obtained a master in Banking, Financial Markets and Patrimonial Management by the EAE. I also took a course in Financial Adviser from the UPV.

I have done consulting for various clients in both strategic and fiscal matters. I tend to offer integral solutions and now I take care of the administration of PSF. When there is an issue that requires knowledge of markets or investment, I also assume that competition.
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