Economists, managers and service providers to companies

A. Definition of the reporting entity

These professional categories encompass a wide range of typologies and circumstances. It is important to highlight that individuals carrying out this type of professional activity are only subject to the requirements established by Law 14/2017 in the case they provide assistance to legal entities, trusts or any other fiduciary structures in relation to the incorporation of companies or other legal persons, they act as or arrange for another person to act as a director or secretary/attorney in fact of a company, a partner of a partnership or a similar position in relation to other legal persons, they provide a registered office, business, correspondence or administrative address, act as trustees, and/or execute an administrative function for their clients, they act or arrange for another person to act as, a trustee of a trust or performing the equivalent function in other legal arrangements or as a nominee shareholder for another person .

Non-resident natural and legal persons carrying out activities of equal nature as the aforementioned in the Principality of Andorra are also considered to be reporting entities.

B. Obligations of the reporting entity

The main obligations attributed to the economists, managers and service providers to companies in the matter of the prevention of money laundering and terrorist financing are the following: