The number of large international banks in Andorra can be counted on the fingers of one hand. However, this does not prevent them from taking leading positions in Europe in terms of financial sustainability and capital adequacy. Andorra is located in the Pyrenees between France and Spain. This micro-state’s economy is based on the revenues gained from tourism and the banking sector. The country’s location in the heart of Europe, in a quiet and safe region, makes Andorra a great place to keep your savings. We offer you a service of opening an external asset management account remotely with the ‘Credit Andorra’ in Andorra.
In order to open this type of account, you will need to make a deposit of at least 500,000 CHF/USD/EUR. You will not need to come to Andorra and visit the bank’s office in person. The procedure of opening an account will be carried out remotely. The only requirement is to be interviewed over the phone or in one of the messengers (Telegram, Skype, WhatsApp, Viber, etc.).
Why is It Worth Opening an External Asset Management Account in Andorra?
Compared to a regular bank account, an account with the external asset management is an extremely beneficial solution from a variety of points of view. With it, you can get independent advice, protection of your interests, a choice of investment and financial solutions.
Opening an external asset management account, you become its beneficiary, but the one to communicate with your bank will be the external asset manager who provides all the necessary documents to the bank and who will conduct the procedure of opening your account remotely, easily and promptly.
The main advantages of an external asset management account are as follows:
- The most complete set of products and services, not only by a single bank, but also the services offered by numerous external service providers;
- Protection against the conflict of interest, independent advice provided by an external asset manager who will work for you, not for your bank, so he or she will not be selling you any unnecessary services;
- Representation of your interests in the banks of different jurisdictions, a possibility of opening an account with another bank quickly enough and at a reduced price;
- Ability to react as quickly as possible in the event of an adverse situation, i.e. to close your account and/or transfer your funds to another jurisdiction;
- Legal protection against the external asset manager;
- Improvement of your customer status with the bank, along with the quality of service, access to additional services and special offers;
- Ensuring that all regulatory requirements are met.
A private banker and an external asset manager is a tandem that acts in your best interests. This situation has many advantages, namely:
- You will have access to the analytical information received from two different sources. This will allow you to make more impartial investment decisions;
- You will be able to use these consulting services even outside the bank’s working hours;
- Settlement of all issues and possible conflicts with the bank will be taking place without your direct involvement, but in your best interests;
- Every operation will be checked at least twice, which virtually eliminates the risk of operational errors.
External asset management bank account remote opening
‘Credit Andorra’ in Andorra
‘Credit Andorra’ is the leading banking group of the micro-state of Andorra. The group was founded in 1949 and is headquartered in Andorra la Vella, the country’s capital.
‘Credit Andorra’’s international presence is provided by its offices in Europe (Portugal, Luxembourg, Spain), USA, Mexico, Panama and Peru.
‘Credit Andorra’’s main business is as follows:
- Private banking;
- Commercial banking;
- Insurance.
‘Credit Andorra’ in figures:
| Indicator | 2016 |
| Assets under management | 13,068 million EUR |
| Net profit | 65 million EUR |
| Financial sustainability | 21.72% |
| Liquidity | 59.03% |
| Dividend yield (ROE) | 10.15% |
| Return on assets (ROA) | 1.09% |
| Efficiency | 52.98% |
Financial Investments with ‘Credit Andorra’
‘Credit Andorra’ provides its customers various investment management services in an effort to achieve a level of return that meets the needs, expectations and profile of the investor. Its customers can choose any option that seems more suitable to them: joint asset management or delegated asset management when the tasks are performed by the bank’s specialists (trust management).
The financial strategy is shaped using a careful selection of the most appropriate ones among the numerous investment opportunities available to the clients of ‘Credit Andorra’.
Analysis and assessment will be carried out every time on a case-by-case basis to decide about how appropriate and advantageous a certain type of investment is. Should any discrepancies among the client’s profile, their needs or the level of knowledge arise, the bank’s specialists will immediately inform the client about it.
Fixed Income
‘Credit Andorra’ provides its clients with a special platform so that they would be able to access the bond markets, as well as advises them on safer and more efficient platform use. Investments in fixed income securities require prior knowledge of the issuer’s solvency and the level of risk associated with the issue. That is why ‘Credit Andorra’ specialists choose the securities that offer the best combination of yield and risk.
Shares
‘Credit Andorra’ offers comprehensive services, starting from the fundamental analysis and assessment of a company and to providing strategic advice on listed companies. Throughout the investment process, the bank’s specialists will accompany and support the client in making decisions.
Structured Products
Structured products allow customers to diversify, activate and filter the risks with the help of customized investments and tax-efficient instruments. Customers can structure their transactions or products according to their own needs.
Investment Funds
‘Credit Andorra’ gives its clients access to a rich selection of funds. You can choose the fund you like by geographic region or asset type. You can also choose the most appropriate management style. Clients have access to the services provided by the leading international management companies and receive the best diversification of their investments.
Investment funds are managed by ‘Credit Andorra’’s Asset Management Department, one of the divisions of the ‘Credit Andorra’ Group. The company is a leader of the asset management field, and it has been on the market for more than 25 years. It manages assets worth more than EUR 2 billion.
To be able to manage client’s funds in dollars, ‘Credit Andorra’ has entered into a strategic partnership with the GAMCO Asset Management Inc.
Incorporating a Company in Andorra
‘Credit Andorra’ Trust
Trust management is suitable for those clients who prefer to entrust specialists with the daily routine asset management work.
‘Credit Andorra’ offers its clients various investment management mandates, i.e. a management mandate for securities that are invested directly in various assets, or a management mandate for external investment funds (the most attractive option taxation-wise). The company’s management approach is based on providing profitable and stable investments.
The bank’s specialists strictly adhere to the analytical methods of assessment that allow due care and diligence when providing advice that would have impact on the decisions made by clients. Various methods of assessment and comparison of each client’s investment goals, knowledge, experience and financial situation are also used to apply certain financial instruments.
Based on an acceptable level of risk, eight investor profiles can be identified: income-oriented, protective, conservative, moderate, balanced, assertive, aggressive, dividend-oriented. So, the most appropriate profile is chosen depending on the customer’s needs.
A team of personal managers and asset management experts constantly monitors clients’ investments, analyzes their results and monitors the risks.
Tax-free car registration in Andorra
Wealth Planning with ‘Credit Andorra’
Management of client’s assets becomes truly comprehensive with ‘Credit Andorra’. Wealth planning is a service that covers all areas and aspects that have an impact on the customer’s wealth.
The main task for the bank is the long-term nature of cooperation, when the bank becomes a partner of its client at the stage when the fortune is accumulated and supports them in the future, providing protection, management or sale of assets, as well as opportunities to transfer the fortune to children and other heirs.
Insurance Services
‘Credit Andorra’ will help you get the necessary insurance coverage via its insurance companies for you as the customer, your family or business. A team of experts will assign a level of coverage for each client, taking into account different risks.
‘Credit Andorra’ also offers a retirement planning service. If necessary, additional sources of income are planned so that the client, after reaching their retirement age, does not give up their usual lifestyle.
Financing
‘Credit Andorra’ helps its clients make the most of their financial resources without having to reduce their consumption. Customers have the following options available:
- Financial assets collateral financing;
- Structured products with liquidity windows;
- Mortgage financing or real estate financing, etc.
Assistance in obtaining a residence permit in Andorra for non-EU nationals
‘Credit Andorra’ Investment Instruments
As a rule, private banking clients require particularly global, complex and economical financial solutions. ‘Credit Andorra’ strives to provide these customers with the best strategies and solutions, using innovative products and optimizing the tax implications of each step.
Customers of ‘Credit Andorra’ can enjoy the best external service providers and tax experts from Andorra, Luxembourg and Spain.
‘Credit Andorra’ provides the following services:
- Advice and consultancy on planning the investment strategies, as well as on choosing suitable investment instruments;
- Establishing a legal instrument and doing the paperwork you need to be done for that;
- Domiciliation, administration and custodial services for an investment instrument;
- Plan update, if necessary;
- Depository and agent services, as well as executive services;
- Administrative agent, accounting and market price monitoring.
Alternative Investments with ‘Credit Andorra’
The proposed alternative investments offer excellent opportunities for your portfolio diversification by asset type, geographic areas and currencies, and have a great potential for generating high returns.
Private Equities
Investments in the shares of privately held companies are becoming increasingly popular among investors. ‘Credit Andorra’ offers you to invest in the shares of privately held companies via the structured products, investment funds or direct investment.
Real Estate Market
Real estate is a strategically important component of any investment portfolio. Specialists of ‘Credit Andorra’ employ the same principles for the real estate analysis, management and assessment as in the case of financial asset management. This helps customers clearly understand the risks and identify their needs in a better way.
Obtaining a residence permit without the right to work in Andorra
Online Banking with ‘Credit Andorra’
‘Credit Andorra’’s online banking platform allows the clients to manage their bank transactions, monitor their account balance and movement of funds, and receive detailed information on their assets and investments. All of this allows you to make informed investment decisions regardless of your location at a particular time.
Merkaat
Merkaat is the first digital investment advisor in Andorra that is available via a smartphone and a personal computer app.
Merkaat provides customized service to help the customer invest their savings as efficiently as possible.
| Switzerland: | Liechtenstein: | Principality of Monaco: | United States: | Singapore: | Dubai: |
| UBS | LGT* | ANDBANK | Morgan Stanley* | Bank of Singapore | Mirabaud |
| Credit Suisse | VP Bank | CMB* | JP Morgan | DBS | Mashreq |
| Pictet* | Volksbank* | CFM | Citibank* | OCBC | Noor |
| Julius Baer | BANK ALPINUM | Andorra: | Wells Fargo | J.SAFRA SARASIN | FAB |
| Vontobel* | BENDURA BANK AG | ANDBANK | Pershing/BNY | CITIBANK COMMERCIAL BANK SINGAPORE | |
| Lombard Odier* | LIECHTENSTEINISCHE LANDESBANK | CREDIT ANDORRA | Interactive Brokers | Hong Kong: | |
| J. Safra Sarasin | Luxembourg: | VALL BANC | J.SAFRA SARASIN | ||
| Edmond de Rothschild (Geneva) | BANQUE DE LUXEMBOURG | Latvia: | Cyprus: | ||
| Rothschild Bank (Zurich) | EAST WEST UNITED BANK | BLUEORANGE | BANK OF CYPRUS | ||
| Corner Bank | Finland: | BANK M&M EUROPE | |||
| Bordier | EVLI BANK | ||||
| CIM Bank | Germany: | ||||
| Audi | VARENGOLD BANK AG | ||||
| COUTTS BANK | |||||
| FALCON PRIVATE BANK | |||||
| VP BANK |
Note: the banks marked with an asterisk seemed to our specialists to be the most attractive ones (in terms of their interest in doing business, their staff, prices, parameters, platform, etc.).
If you are ready to start the procedure of opening an external asset management account with the “Credit Andorra’ in Andorra today, please do send your request to our email: info@offshore-pro.info.
