Real estate agents

A. Definition of the reporting entity

Real estate agents are considered to be individuals or legal entities that obtain funds from the sale or exchange of real-estate transactions, management of leasings, etc. However, it is important to remark that real estate agents are only considered reporting entities under Law 14/2017 whenever they carry out activities related to the purchase and sale of real-estate property. These professionals have to be duly authorized by the Government and registered in the Professional Association of Real Estate Agents of the Principality of Andorra (AGIA – Col·legi Professional d’Agents i Gestors Immobiliaris del Principat d’Andorra).

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 real estate agents in the matter of the prevention of money laundering and terrorist financing are the following: