What problems does the creation of a company in Andorra usually have? - PSF Consultoría empresarial

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What problems does the creation of a company in Andorra usually have?

We already talked in the past about what steps have to be taken in order to create a company in Andorra, today we are going to talk about what problems usually occur during the process of creating the same. There will always be unpredictable problems, but in general the problems are always very similar.

The reserve of social denomination is not problematic, but may be dennied for being, for example, too ambiguous. This will require an additional government visit and a slight additional delay. It is no longer necessary that the denomination be in Catalan or other regulations of the past, but it needs to be not only not in use, but also descriptive of the activity to be carried out.

Then the foreign investment application is the center of the problems. From poor calculations, through fields that do not adequately define the society to be created, as well as problems with criminal records provided by the country of origin that need to be apostilled and sometimes it is not. In itself is the worst process that exists, because the complexity of is many fields and the problems that can create in the long term for the life of the company. Many lines of errors could be written in this step and it is undoubtedly the one that most and worst delays produces.

From there, two or three more trips for the bank and only the notary will remain. Banks are generally not too problematic, although it depends on the investor's ability to select a quality entity.

In short, for a foreigner, creating a partnership in Andorra may require dozens of trips to the country, and for many that is unsustainable. That is why in general the companies are constituted with a company specialized in that type of services within the own country. Over the years it is expected that these types of problems to become smaller, but things are as they are today. Even with a national company one or two trips are always necesary.

 

 

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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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