In Andorra, privacy is still an important issue today. In a Europe where all registers are public and specific data can be obtained from many companies, Andorra is still very reluctant to do so.
In Andorra, to summarize everything much, there are no public records, but there are records in government and shared records. This means that, although a person can not consult data of a society, these will be shared with other governments if certain requirements are met. Therefore, be careful at the tax level with this type of issues.
The records that exist are of companies (no bearer shares), administrators and general powers of attorney. Removing that of powers, which we do not yet have clear protocol, the rest of records can be consulted by countries with agreement that believe that one of its residents is using Andorra to evade taxes. The efficiency of the states with fiscal issues has improved a lot, reason why it is expected that in case of doubt they ask for data, and they usually do. Therefore, if we want to hide something to the goverment in a private registry, we can be forgetting it.
So how useful are these private records? First, they avoid gossiping between competition, for good or for bad. Analyzing a competitor is very difficult when you do not have data, but the truth is that we are covered. International investors also like the idea of not showing up anywhere, as it allows them to conduct operations without the scrutiny from the competition. Be that as it may, it's a pro for a running business, without being a complete competitive advantage either.
Many times they ask me, will these records become public? I understand that yes, but it will take a very long time. For now there are no plans, so it is an intuition mine, but I would be surprised that with the course that the country is, with the decades they do not become public. Nor do I think that for a person to this day has any importance if the records are made public in 10 years.