The small independent Principality of Andorra located in the Pyrenees and bordering on France and Spain, attracts not only tourists, but also lots of wealthy individuals seeking a reliable jurisdiction to keep and multiply their private capital. Banks of Andorra can become a cheaper and a less eye-catching alternative to the banks of Switzerland, Luxembourg and other well-known historic European financial centers. Thanks to its location between France and Spain, Andorra is very attractive both for using its banking services, for staying there, and for incorporating your business. We offer you a service of remote account opening with the Vall Banc in Andorra with external asset management.
In order to remotely open an account with the Vall Banc in Andorra with external asset management, you will need to do the following:
- Make a deposit in the amount starting from 500,000 of CHF/EUR/USD;
- Take and pass an interview with a representative of the bank or an external asset management company. This is usually done by phone, Skype or messenger.
One of the main advantages of this offer is that your account will be opened remotely, so you will not need to travel to Andorra and pay a visit to the bank in person. Our experts will also help you prepare all the necessary documents and pass the due diligence check for successful opening of your account.
External Asset Management Account in Andorra
If your goal is not related to any active business operations, but rather you are focused on preserving and multiplying your capital using a wide range of opportunities offered by an international bank, an external asset management account will be ideal for putting your goals into real life. Such an account has its own features and advantages both for the client and for the bank itself. As a rule, banks are much more willing to open accounts for those clients whose interests are represented by external managers (EAMs, i.e. External Asset Managers).
The external asset manager provides a much wider range of financial and investment solutions compared to a single bank:
- EAMs offer not just banking, but also financial, legal and other services;
- Access to services and products offered by a large number of external service providers;
- Possibility of opening accounts with the banks located in other jurisdictions. It will be done promptly, remotely and at a reduced price.
At the same time, you will get a really independent advice, as EAMs are not someone interested in selling specific products and services. The external asset manager does not work for the bank, it is an independent person working solely in the best interests of the client.
Opening an external asset management account you free yourself from a lot of bureaucratic and routine tasks, as well as increase your chances of safely opening an account. The external asset manager will take on the following tasks:
- Communication with the bank on any matters on behalf of the client, representing the client’s best interests;
- Solving problems, conflicts, disputes, etc. with the bank;
- Legal protection of the client’s interests when dealing with the bank;
- Conducting due diligence checks and providing all the necessary documents to the bank;
- Ensuring compliance with the anti-money laundering regulations.
An external asset manager can get the customer fees reduced. They can also help you reduce the overall operating costs, improve your customer status. They offer top quality services and assist you in getting access to numerous additional services that are not available to the regular bank account holders.
Since the client is working with both the external asset manager and a representative of the bank, they can enjoy all the advantages of getting services from both those institutions, namely:
- Access to financial and investment analytics from two sources at once;
- Opportunity to get advice and consultancy from different experts, compare them and make your own decision based on a fuller picture of what is going on;
- Services provided not only during the bank working hours, but also outside those hours;
- Much wider range of investment solutions.
Vall Banc in Andorra
Vall Banc is the “New bank of the new Andorra” whose predecessor was Banca Privada d’Andorra (BPA), founded in 1957.
In 2015, the U.S. Department of the Treasury said that BPA posed a risk of money laundering involving four correspondent banks in the U.S., as well as criminal gangs from Russia and China.
In March 2015, the bank’s executives were suspended from their duties, and soon afterwards the bank’s Chief Executive Officer Joan Pau Miquel Prats was arrested and imprisoned. Regulators of Andorra and Spain took control of BPA and its subsidiary, Banco de Madrid.
BPA’s assets were estimated at EUR 3 billion, which far exceeds the annual budget of the Andorran state (EUR 400 million). In the event of the worst-case scenario, the Government would not be able to support the bank.
As a result, all non-toxic assets of BPA were transferred to the new bank called Vall Banc, which was then sold to a private investment company called J.C. Flowers.
Today, Vall Banc located in Andorra is one of the most stable and reliable banks in Europe. The bank has successfully undergone the restructuring procedure and fully complies with the modern requirements of financial regulators.
Vall Banc in Andorra offers its clients personalized financial solutions and strategies, providing full access to all the opportunities of international financial markets. Also, Vall Banc in Andorra is gradually moving to a new level of digital services in private banking.
Private Banking at Vall Banc in Andorra
Each of Vall Banc’s private banking specialists serves a limited number of clients, as the bank’s representatives are confident that continuous and focused advice is vital for any successful investment. This allows them to provide customized recommendations and carefully tailored solutions that are developed in accordance with the wishes of each customer and reflect their personal situation.
The basic principles of private banking at Vall Banc in Andorra are the following:
- Always act solely in accordance with the best interests of their customers, i.e. act reliably and prudently;
- Provide forward-looking and comprehensive advice that focuses on long-term development rather than short-term success;
- Use their own understanding of the financial world to turn possible problems into investment opportunities;
- Give their customers access to the best international markets;
- Offer their clients the best possible opportunities, avoiding unpredictable risks.
Wealth Management at Vall Banc in Andorra
Vall Banc in Andorra is a reliable and responsible partner for wealthy private clients as well as for family businesses. Thanks to its extensive international skills and expertise in wealth management, Vall Banc can develop customized asset management solutions that fully meet the individual needs of even the most discerning clients.
Wealth management services at Vall Banc in Andorra include the following: wealth transfer planning across generations and state boundaries, individual risk management, specialized solutions designed to create value and preserve it in the years to come.
Investment advice at Vall Banc in Andorra
Vall Banc in Andorra offers a comprehensive asset management advice to its clients who choose to decide themselves, how they prefer to invest and in what kind of assets. In this case, specific contracts are concluded by agreement of the parties only. Of course, Vall Banc experts in Andorra will be happy to provide their expert advice to their clients.
At the very beginning of cooperation, the bank develops an investment strategy tailored to the customer’s expectations of profitability and acceptable level of risk. The bank’s specialists consistently and regularly review their clients’ investment decisions. On the part of the bank an investment offer is made, but the final decision about following it or not is made by the client. This ensures the independence of advice and neutrality in offering investment products.
Vall Banc Investment Funds in Andorra
Vall Banc offers its clients various types of investment funds, namely:
- Equity funds;
- Fixed income funds;
- Money market funds;
- Thematic funds;
- Diversified funds.
This wide variety available when choosing funds allows bank’s clients to choose a solution that is most suitable for achieving their own financial goals.
Procedure of Remote Account Opening with the Vall Banc in Andorra with External Asset Management
If you need an external asset management account with Vall Banc in Andorra, take a few simple steps:
- Write a letter with the appropriate request to our experts and email it to: email@example.com.
Together with your request, please provide the answers to the following questions:
2. Having filled and sent your questionnaire, you will need to pay for the professional support during the account opening procedure. Accepted payment methods are a bank transaction, payment card, PayPal, WebMoney or Western Union. The cost of this service is 1500 EUR.
3. After that you will need to take an interview with a private banker and/or a representative of a licensed asset management company. The interview is usually conducted by phone or messenger: Telegram, Skype, WhatsApp, Viber, etc.
4. After the interview please prepare all the necessary documents and fill out the bank forms for account opening. Our specialists will help you in preparing your documents and passing all the checks.
Note: even after having paid for services, but before you start filling out bank forms for account opening, you can still change your mind and choose another bank from our list, one that will meet your goals and needs better:
|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|
|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|
|Audi||VARENGOLD BANK AG|
|FALCON PRIVATE 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 Vall Banc in Andorra today, please do send your request to our email: firstname.lastname@example.org.