Want a proper place separated from the connections of the local source to keep that wealth safe? That is exactly what the Andorran banks are for and why they are becoming more famous among the global finance community. One may think of Switzerland as the ultimate haven for their riches, but it is not to the disappointment of their expectation.
Why precisely them?
- They welcome foreign clients to open their accounts and invest in their banks.
- Efficient and much better than before: These banks have a distinct strict protocol. Safety is their specialization, and they know what they are doing.
- Though some banks of other countries fall under a similar category, the cost of their proficiency is much higher than the ones of this country.
- They have deposit insurance up to €100,000. This securing assurance is one of the top reasons why the clients do not hesitate to trust these private banks with their money, even if they are from completely different countries.
- An account holder can deposit or transact smoothly in multiple types of currencies without any exchange fee with the Multi-currency efficiency feature.
- It is always good to have a portion of your wealth stored in a separate and secure first-world country. It turns a lifesaver in catastrophic and unpredictable circumstances.
Who should consider them?
Private companies and corporations, big organizations, business tycoons, prominent figures, wealthy individuals, and wealth managing bodies are the ones who are likely to be clients. Despite its appealing parameters, it is not for everyone. They expect a much more stable balance structure.
They are solvent
The solvency of the capital is more than the European banking sector’s requirement. This being the reason, the bancos en andorra is counted among the most solvent ones in Europe.