External accountants

A. Definition of the reporting entity

An external accountant is a fully independent and autonomous person that can develop its activity as a liberal professional or as a member of an entity that provides accounting services or that undertakes to provide, directly or by means of other persons to which that other person is related, material aid, assistance or advice on tax matters as their main business or professional activity;

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.

In this way, it is important to note that accountants could be also parties under obligation because they could be considered as a service providers to companies and trusts when they provide the following services to third parties:

  • a) The incorporation of companies or other legal entities;
  • b) acting as, or arranging for another person to act as, a director or secretary/attorney-in-fact/administrator of a company, a partner of a partnership, or a similar position in relation to other legal persons;
  • c) Providing a registered office, business address or accommodation, correspondence or administrative address or other similar services for a company, a partnership or any other legal person or arrangement;
  • d) Acting as, or arranging for another person to act as, a trustee of a trust or performing the equivalent function in other legal arrangements;
  • e) Acting as, or arranging for another person to act as, a nominee shareholder for another person.

B. Obligations of the reporting entity

The main obligations attributed to the external accountants in the matter of the prevention of money laundering and terrorist financing are the following: