Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the AFA decision, including banking and payment rails.
Get a crypto license in Andorra.
Andorra has a real, dedicated digital-assets law. Law 24/2022 gives the Andorran Financial Authority - the AFA - a licensing regime for token issuers and crypto businesses, in a stable microstate with a 10% corporate rate. It is a national regime, with no EU passport - and we say so. We build the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Andorra in brief
A dedicated digital-asset law in the Pyrenees.
Andorra passed a purpose-built digital-assets statute in 2022. Law 24/2022, of 30 June, governs the digital representation of assets through cryptography, distributed-ledger technology and blockchain - a real framework supervised by the Autoritat Financera Andorrana, the AFA. It sets out how tokens are issued and categorised, how custody and exchange are authorised, and what a crypto business has to file to operate. Token issuers submit detailed documentation to the AFA: how the asset works, its legal link to whatever it represents, the issuance conditions, systems security, auditability and protection against operational failure. Companies that sell or deal in crypto go through AFA registration and licensing. This is a licence under a dedicated law, not a company slipped into a grey zone.
Andorra is a small, stable microstate wedged between France and Spain, with a long banking tradition and a tourism economy that is repositioning toward digital and technology work. It uses the euro under a monetary agreement with the EU, but it is not an EU member - so a Law 24/2022 licence is a national Andorran authorisation and does not carry an EU or MiCA passport. That is the honest limit, and it matters for how you plan markets. Against it sits a 10% corporate rate, one of the lowest in Europe, and a regulator building a reputation for taking digital assets seriously. We build the file end to end, from the Andorran company to the AFA application.
Andorra has a dedicated crypto law: Law 24/2022, supervised by the AFA - a real licence for token issuance, custody and exchange.
It uses the euro but sits outside the EU, so there is no MiCA passport - national reach, stated plainly. Corporate tax is a low 10%.
The regime
A Law 24/2022 authorisation, scoped to your activity.
Law 24/2022 covers a defined set of digital-asset activities under the AFA. The first job is scoping which your model needs - issuance, custody, exchange; the second is building the file to the AFA's standard. We do both.
Law 24/2022 covers a defined set of digital-asset activities under the AFA - we scope which your model needs.
01 - LAW 24/2022 · TOKEN ISSUANCE
Issuing tokens under the AFA
The heart of the Act: issuing digital tokens with the documentation the AFA requires - how the asset operates, its legal link to whatever underlies it, the issuance terms, and the security and auditability of the systems behind it.
The heart of the Act: issuing digital tokens with the documentation the AFA requires - how the asset operates, its legal link to whatever underlies it, the issuance terms, and the security and auditability of the systems behind it.
- ✓Utility, asset-backed and payment tokens
- ✓Legal link to the underlying asset set out
- ✓Issuance conditions filed with the AFA
- ✓Systems security and auditability documented
- ✓Protection against operational failure
- ✓Ongoing AFA supervision
02 - LAW 24/2022 · CUSTODY & EXCHANGE
Dedicated national lawCustody, exchange and platforms
The law also authorises custody of digital assets and their exchange or trading on approved platforms. Where your model holds client assets or runs a venue, the AFA registers and licenses that activity alongside issuance.
The law also authorises custody and exchange on approved platforms - licensed alongside token issuance.
- ✓Custody and safekeeping of digital assets
- ✓Exchange and trading on approved platforms
- ✓Registered digital overseer for the AFA
- ✓Capital and insurance requirements met
- ✓AML/CFT with KYC and reporting
- ✓One regulator - the AFA
Costs and timelines are confirmed for your case before any work begins. The AFA scopes requirements by activity; the real investment is the file - capital, insurance and documentation are scoped individually in your quote.
Why Andorra
A dedicated law, at a 10% rate.
The framework rests on Law 24/2022, supervised by the AFA - inside a stable European microstate with a 10% corporate rate. National reach, honestly stated.
✓
A dedicated 2022 law
Andorra wrote a purpose-built digital-assets statute rather than stretching general rules. You build against a real Act - Law 24/2022 - with a defined regulator and clear filing requirements for issuers and platforms.A purpose-built statute - Law 24/2022.
✓
A real AFA licence
The Autoritat Financera Andorrana supervises licensees with capital, insurance and a registered digital overseer for regulatory contact. The substance behind the licence is what banks and partners actually read.Capital, insurance, ongoing supervision.
✓
10% corporate tax
One of the lowest corporate rates in Europe, at a clean 10%. The draw here is a genuine licence in a low-tax base, not a tax trick with no regulation behind it.One of Europe's lowest rates.
✓
A stable microstate
Wedged between France and Spain, Andorra is politically stable with a deep banking tradition and strong physical security. A calm, well-run base in the heart of Europe.Calm, well-run, deep banking tradition.
✓
National - stated plainly
Andorra uses the euro but is not in the EU, so the licence is national and carries no EU or MiCA passport. We tell you that up front, because it shapes which markets you can serve directly.No EU or MiCA passport.
✓
Repositioning toward tech
A tourism-and-banking economy actively courting digital and technology business. The regulator has an interest in getting this right, which shows in how the regime is built.A regulator invested in getting it right.
How it compares
How Andorra differs from other routes.
Andorra is the dedicated-law, low-tax microstate licence - national in reach. The honest comparison is below.
Andorra vs other jurisdictions
| Feature |  Andorra | Other jurisdictions |
|---|---|---|
| Regulatory regime | Law 24/2022 licence (AFA) | Varies - licence or company route |
| Market reach | National (no EU passport) | Some carry EU/MiCA passport |
| Corporate tax | 10% | Ranges widely |
| Supervision | Ongoing AFA oversight | Ranges widely |
Regulatory regime
AndorraLaw 24/2022 licence (AFA)
Other jurisdictionsVaries - licence or company route
Market reach
AndorraNational (no EU passport)
Other jurisdictionsSome carry EU/MiCA passport
Corporate tax
Andorra10%
Other jurisdictionsRanges widely
Supervision
AndorraOngoing AFA oversight
Other jurisdictionsRanges widely
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Andorra | Law 24/2022 licence (AFA) | 10% corporate | Dedicated law, supervised |
 Liechtenstein | TVTG / Token Act (FMA) | 12.5% corporate | Comprehensive, EEA access |
 Monaco | Company + AML route | Varies | No dedicated VASP licence |
 Spain | MiCA / CASP (CNMV) | 25% corporate | EU-passported, supervised |
AndorraLicense typeLaw 24/2022 licence (AFA)
Taxation10% corporate
RequirementsDedicated law, supervised
LiechtensteinLicense typeTVTG / Token Act (FMA)
Taxation12.5% corporate
RequirementsComprehensive, EEA access
MonacoLicense typeCompany + AML route
TaxationVaries
RequirementsNo dedicated VASP licence
SpainLicense typeMiCA / CASP (CNMV)
Taxation25% corporate
RequirementsEU-passported, supervised
Before you apply
Requirements for the Law 24/2022 licence.Requirements for the Law 24/2022 licence.
The AFA reviews a digital-assets file to a real financial-services standard. The checklist below is what a file that passes is built around - to Law 24/2022 and the AFA's rules.
01
Andorran entity - a locally incorporated company, typically a societat limitada (SL), with genuine presence and management in Andorra.
02
Fit & proper management - competent directors and officers with clean records.
03
Licensed activity scope - the Law 24/2022 activities your model needs - issuance, custody, exchange - defined and applied for.
04
Capital - as the AFA requires for your activity and risk profile.
05
Insurance - the cover the AFA expects for the activity, in place.
06
Registered digital overseer - a named person responsible for regulatory contact and supervision.
07
Issuance documentation - for token issuers: asset operation, the legal link to the underlying, and issuance conditions.
08
Systems and security - resilient technology, auditability and protection against operational failure the AFA can inspect.
09
AML/CFT framework - KYC, monitoring and reporting, with a named compliance officer.
10
Business plan - services, target markets, volumes and financials the AFA can interrogate.
11
Local substance - a real presence appropriate to the licensed activity.
01
Andorran company (SL) with real presence.
02
Fit & proper directors and officers.
03
Licensed activity scope under Law 24/2022.
04
Capital - as the AFA requires.
05
Insurance the AFA expects, in place.
06
A registered digital overseer named.
07
Issuance documentation for token issuers.
08
Resilient, auditable systems and security.
09
AML/CFT with a named compliance officer.
10
Business plan the AFA can test.
11
Local substance for the activity.
Reflects Law 24/2022 (of 30 June 2022) and AFA practice as of 2026. The licence is a national Andorran authorisation and does not carry an EU or MiCA passport.Law 24/2022 + AFA practice, as of 2026. National licence, no EU passport.
How it works
From first call to the AFA licence.
01
Perimeter and strategy
We map your services to the Law 24/2022 activities and fix scope, capital and timeline in writing against the AFA's requirements.Law 24/2022 activities, scope, capital - in writing.
02
Andorran company and substance
Local incorporation, registered office, directors and the governance layer - the presence the AFA assesses behind the file.Local incorporation, office, directors.
03
The application file
Issuance and systems documentation, AML/CFT framework, capital and insurance - assembled to the AFA's standards.Issuance, AML, capital, insurance - AFA-grade.
04
AFA review
The application and question rounds with the AFA - we answer every one and carry the file to the decision.Application and question rounds - answered.
05
Licence and operations
The Law 24/2022 licence granted and the business live, with ongoing AML, systems and reporting duties we can keep running.Licence granted; ongoing duties we can run.
Quick facts
RegulatorAFA
FrameworkLaw 24/2022
Licence scopeBy digital-asset activity
Market reachNational (no EU passport)
SupervisionOngoing AFA oversight
Corporate tax10%
SubstanceLocal company + presence
AMLReal, supervised
The Law 24/2022 licence is a real, supervised authorisation - the file quality and the substance are what carry it through the AFA's review.
On the ground in Andorra
Run from our Dubai office, with Andorran counsel.
Prifinance - Andorra desk
Andorra la Vella · Andorra
Andorra la Vella, Andorra
01
Andorran incorporation
Local company formation, typically an SL, and the corporate layer the AFA expects - structured for the Law 24/2022 application.Local SL for the Law 24/2022 application.
02
The licence file
Issuance, custody and systems documentation, AML/CFT framework, capital and insurance - drafted by us and defended through the AFA's review.Issuance, custody, AML, capital, insurance.
03
Substance and the overseer
Directors, the registered digital overseer and the local presence the licensed activity requires - assembled pragmatically.Directors, digital overseer, local presence.
04
Banking and operations
Accounts arranged on full disclosure, matched to the flows - the licensed business live on rails that hold.Accounts on disclosure; live on solid rails.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Andorra.
Company profits carry a 10% corporate rate, one of the lowest in Europe - inside a jurisdiction where a genuine licence sits behind the low figure.
10% corporate rate
Standard corporate income tax is 10% on company profits - one of the lowest rates in Europe and a clean figure to model. The licensed business is taxed as an ordinary Andorran company, with the usual deductions.One of Europe's lowest rates.
Low personal tax too
Personal income tax is modest and capped at 10%, relevant at the owner and staff level. We model it alongside the company position rather than leave it to chance.Capped at 10% - modelled with the company.
IGI - the local VAT
Andorra's general indirect tax, the IGI, applies to domestic supplies at a low headline rate. We map it to your activity so the operating model holds no surprises.On domestic supplies, low headline rate.
Euro, without EU membership
Andorra uses the euro under a monetary agreement but sits outside the EU tax and VAT area. That shapes cross-border flows, which we structure deliberately for an internationally-facing business.Cross-border flows structured deliberately.
A licence-led, low-tax base
The draw is a real digital-assets licence in a low-tax microstate - a combination that is rare in Europe. The tax is a benefit; the licence is the product.A real licence in a low-tax microstate.
Records serve both
The AML and AFA record-keeping the licence requires also underpins the tax position - regulator-grade books double as tax-office-grade books.Regulator-grade books serve tax too.
Tax summary
Corporate income tax10%
Personal income taxUp to 10%
Indirect tax (IGI)On domestic supplies
Cross-border flowsStructured deliberately
CurrencyEUR (by agreement)
Crypto-specific rulesVia Law 24/2022
*As of 2026. The value is a genuine licence in a 10% base - we model the tax position honestly around it.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Andorran company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, AFA-licensed business.
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Andorra · AFA
Launch your crypto project in Andorra with expert support.
Full-service assistance - from company registration to the Law 24/2022 licence and ongoing compliance.
Get a consultation →Free legal opinion
Is Andorra the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which licence scope or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Andorra crypto licence, answered.
Does Andorra license crypto?+
Yes - through Law 24/2022, of 30 June 2022, supervised by the AFA. It is a real, dedicated licence covering token issuance, custody and exchange, not a company registered into a grey zone.
Which activities does the licence cover?+
Issuing digital tokens, custody and safekeeping, and exchange or trading on approved platforms. We map your model to the exact Law 24/2022 activities and scope the authorisation accordingly.
Does the licence give EU access?+
No - and we say so plainly. Andorra uses the euro but is not an EU member, so the licence is a national Andorran authorisation with no EU or MiCA passport. It shapes which markets you can serve directly.
How much capital is required?+
The AFA sets capital and insurance by activity and risk profile, so there is no single figure. We scope both against the AFA's requirements for your specific services rather than quote a generic number.
What is a registered digital overseer?+
A named person the AFA expects for regulatory contact and supervision of the licensed activity. Appointing a suitable overseer is part of a passing file, and we help arrange it.
How are crypto companies taxed?+
A 10% corporate rate on company profits - one of the lowest in Europe - with personal income tax capped at 10%. The local IGI applies to domestic supplies. The value is the licence in a low-tax base.
Why Andorra rather than an EU state?+
For a genuine dedicated licence in a stable, very low-tax microstate. If EU passporting is essential, an EU/MiCA base fits better - and we will tell you so. If it is not, Andorra is a strong, honest option.
Is the AFA supervision real?+
Yes - licensees carry capital, insurance, a registered overseer and ongoing AML and systems obligations under AFA oversight. That substance is what makes the licence credible with banks and counterparties.
Does Andorra license crypto?+
Yes - Law 24/2022, supervised by the AFA.
Which activities?+
Token issuance, custody, exchange.
EU access?+
No - national licence, no MiCA passport.
Capital?+
By AFA, by activity and risk - no single figure.
Digital overseer?+
A named person for AFA contact and oversight.
Company taxes?+
10% corporate; personal capped at 10%.
Why Andorra?+
A real licence in a very low-tax microstate.
Real supervision?+
Yes - capital, insurance and AML under the AFA.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which licence scope or route fits your business.Free legal opinion: which Andorra licence scope fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the AFA or any other public authority. Licences are granted by, and obtained directly from, the competent authorities.