A. Definition of the reporting entity

a) Associations
An association is a voluntary grouping of three or more persons for which they intend to obtain a legitimate non-profit purpose by means non-contrary to law. Non-resident natural or legal persons who carry out in the Principality of Andorra activities of the same nature as those of associations are also subject reporting entities.

For more information

Qualified Law on Associations of 29 December 2000

b) Foundations
Private foundations are non-profit entities, which irrevocably affect assets or rights to carry out general interest purposes.

Public sector foundations are all those that are constituted with a direct or indirect major contribution from State bodies, public administrations and state-owned entities or of Andorran public law or public administrations and entities of foreign public law or whose constituent patrimony is formed in more than 50 percent by goods or rights provided or yielded by the referred entities.

Both private foundations and public foundations are reporting entities, as well as the non-resident legal or natural persons that carry out activities of the same nature in the Principality of Andorra.

For more information

Law 11/2008 of 12 June on foundations

c) Other non-profit organisations
In addition to foundations and associations, other non-profit organisations are also subject to the first additional provision of Law 14/2017.

Any legal person or arrangement or organisation that primarily engages in raising or disbursing funds for purposes such as charitable, religious, cultural, educational, social or fraternal purposes, or for the carrying out of other types of “good works” falls within this category.

B. Obligations of the reporting entity

The main obligations attributed to the associations, foundations and other non-profit organisations in the matter of the prevention of money laundering and terrorist financing are the following: