Capital & paid-up requirement
Share capital of €60,000, of which 25% (€15,000) is paid up at incorporation; the balance is callable in accordance with the articles. A sole shareholder is sufficient (SAU).
→ A credible financial base
SA Company · Andorra
Incorporate an SA company in Andorra.
The Societat Anònima is the structure for large-scale projects: €60 000 capital, freely transferable shares and robust governance. Ideal for fundraising and regulated activities.
Andorra
For ambitious projects
The SA — built for
Set up my SA
The SA — built for
the highest ambitions.
When a project aims high — investors, growth, regulated activity — the SA provides the framework: substantial capital, freely transferable shares and recognised governance. We incorporate and structure it for you.
€60,000 capital
25% paid up (€15,000) at incorporation: a solid and credible financial foundation.
Freely transferable shares
Bring in investors and open the capital without the constraints of approval procedures.
Robust governance
Board of directors and structured management: immediate institutional credibility.
Profile
The Andorran SA at a glance.
A demanding yet powerful structure, built for growth, investors and regulated sectors.
Shareholding
The capital is divided into freely transferable shares, ideal for welcoming investors, organising a disposal or preparing a growth transaction.
→ Designed for fundraisingGovernance & audit
Management by a sole director or a board of directors. A statutory auditor is required above certain thresholds: a transparency asset valued by partners.
→ Institutional credibility
SA taxation
The power of an SA,
The power of an SA,
the lightness of Andorra.
The SA falls under the same 10% corporate tax as the SL. Dividends from Andorran sources are exempt, IGI stands at 4.5%, and Andorra has no wealth tax or inheritance tax. For a large-scale project, the difference compared to a major neighbouring country is considerable.
A structure built to last.
Shareholder agreements, governance, dividend distributions, investor onboarding: we build a solid, recognised SA, ready to grow without having to reinvent itself at every stage.
When to choose the SA
Three situations where the SA is the right choice.
For most projects, an SL is sufficient. But in these three cases, the SA is the right vehicle — and we will tell you so honestly.
Regulated activities
Banking, insurance, finance and investment, supervised by the AFA: the SA is the expected structure for these sectors.
→ Banking, insurance, financeFundraising
Bringing in investors, opening the capital, preparing a disposal: shares transfer freely, without approval requirements.
→ Investors & growthShareholding & profile
Broad shareholding, board-level governance, strong institutional image: the SA inspires confidence in major partners.
→ Large structured projects
SA or SL?
A straight comparison.
Two structures, two ambitions. Here is what really sets them apart.
| Criterion | SASocietat Anònima | SLSocietat Limitada |
|---|---|---|
| Minimum capital | €60 000 | €3 000 |
| Securities | Shares — freely transferable | Quotas — restricted transfer |
| Governance | Structured board | Flexible |
| Regulated activities (AFA) | Expected structure | Not appropriate |
| Ideal for | Fundraising, large projects, finance | SMEs, sole traders, holding companies |
| Corporate tax at 10% and IGI at 4.5% in both cases. We determine the right structure with you, in full transparency. | ||
Our process
Your SA incorporated in 6 steps.
A large-scale project deserves flawless execution. Your dedicated French-speaking adviser manages every milestone.
Assessment & structuring
We confirm the suitability of the SA, define the shareholding structure, governance model and corporate purpose.
Foreign investment authorisation
For non-resident shareholders holding more than 10%, we file and manage the application with the Government.
Company name reservation
We reserve your company name at the Companies Registry.
Capital deposit
Incorporation account at an Andorran bank and payment of 25% of the capital, i.e. €15,000.
Notarial deed & articles
Drafting of the articles of association (and any shareholder agreement) and signing of the deed of incorporation before a notary.
Registration, NRT & licence
Enrolment in the Registry, obtaining the NRT, activity licence and CASS affiliation for directors.
Frequently asked questions
The SA company in Andorra: your questions answered.
What is the minimum capital for an SA in Andorra?
€60,000, of which 25% (i.e. €15,000) must be paid up at incorporation. The balance remains callable in accordance with the articles of association.
SA or SL: which one to choose?
The SL is suitable for the vast majority of projects. The SA is required when raising funds, welcoming a broad shareholder base or carrying out a regulated financial activity. We determine the right option together based on your objectives.
Does banking or insurance activity require an SA?
Yes. Banking, insurance, finance and investment activities, supervised by the AFA (Andorra's financial authority), are carried out through an SA, which provides the required governance framework.
Can a non-resident hold 100% of an Andorran SA?
Yes, up to 100% of the capital, following the grant of foreign investment authorisation for any holding above 10%. We handle this process in its entirety.
Is a statutory auditor required for an SA?
Statutory audit becomes mandatory above certain balance sheet, turnover and headcount thresholds. Many SAs are subject to this requirement given their size — a transparency advantage valued by partners and investors.
How long does it take to incorporate an SA in Andorra?
Generally between 6 and 12 weeks, depending on the shareholder profile and governance complexity. We secure every step to keep the process on schedule.
Looking for a simpler solution? The SL company is often sufficient. To manage shareholdings, see the holding company page, or compare all company structures.