List of Taxes

The rates applicable are specified in Law 10/2013, May 23rd of the Andorran Financial Authority [Llei 10/2013, del 23 de maig, de l’Autoritat Financera Andorrana] and specifically in the following articles:

 

Article 28 - Authorization fee for the creation of a new operating entity in the Andorra financial system.

The tax payable is determined by a fixed amount depending on the entity type, in accordance with what is established below:

Type of Entity

Creation Tax Rate

Banks

30.780 euros

Non-bank Specialized Credit Institutions

10.260 euros

Financial investment companies

12.312 euros

Financial investment agencies

8.208 euros

Asset management companies

6.156 euros

Financial advisers

2.052 euros

Collective Investment Schemes Management Companies

6.156 euros

Payment Institutions

6.000 euros

Electronic Money Institutions

6.000 euros

 

Article 34 –Andorran Collective Investment Schemes Management Companies annual rate of supervision

The tax payable is a fixed amount of €3,078.

As for the collective investment schemes management companies that carry out the activity of discretionary and individualized management of portfolios, or investment advice, or functions related to the custody and administration of investment fund shares, the tax payable is increased by €2,052.

 

Article 37 –Financial Entities and Collective Investment Schemes Management Companies Annual rate of supervision on a consolidated basis

The tax payable is determined by a fixed amount that is made up of:

  • An annual rate of supplementary supervision, that corresponds to supervision on a consolidated basis at a rate of €5,130, for all financial entities and collective investment schemes management companies subject to supervision on a consolidated basis by the AFA, if applicable.
  • An annual supplementary supervision rate, that corresponds to supervision on a consolidated basis, for all those financial entities subsidiaries and collective investment schemes management companies that are under the supervision of a foreign financial or insurance supervisory authority, in accordance with what is established below

Types of branches or subsidiaries

Annual Supervision Tax Rate

For each supervised foreign non-bank subsidiary active within the consolidated supervision scope

6.156 euros

For each branch dependent on an entity operating in the system

4.104 euros

For each representative office dependent on an entity operating in the system

1.026 euros

 

Article 38 - Fees for the pre-authorization process and/or registration with the AFA.

The tax payable is determined by a fixed amount in accordance with what is established below:

Rate concept

Pre-authorization and/or registration tax rate

Pre-authorization process

500 – 100.000 euros

Registration process

300 – 50.000 euros