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Since now the National Institute of Finance of Andorra (INAF) has been acting as a guarantor, regulator and controller of the insurance sector of the Principality and named “INAAF”

The National Institute of Finance of Andorra (INAF) will acting as a guarantor, regulator and controller of the insurance sector of the Principality. This decision was taken by the Council of Ministers of Andorra. The corresponding proposal was introduced by the Minister of Finance of the Principality Jordi Cinca.

The corresponding amendments to the law on …

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All news / Legal advice online by Augé Grup

Which are the provisions in Andorra that protect the holders of the preference shares?

Which are the provisions in Andorra that protect the holders of the preference shares? 

Director of Augé Grup’s Legal Department Joan Miró answers:

First of all, preference shares can be defined as a high-risk complex financial instrument; as they are not covered by guarantee funds and are traded on the secondary financial market.

However, bank entities are required …

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All news / Politics

Ramón López became the new director of INAF

photo: govern

The Government of Andorra appointed Ramón López the new director of the National Institute of Finance of Andorra (INAF). His candidacy was offered by the Board of Directors of the organization. Ramón López will replace Maria Cosan, who decided to leave for family reasons.

“The new director has expressed a desire to carry out …

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Monetary agreement between Andorra and the European Union initiated the application of new rules of interaction with the European Central Bank

The Andorran Council of Ministers approved the new simplified rules for the provision of statistical data on banking and financial transactions of legal entities of the principality to the European Central Bank.

The Bank is the supervising authority of the Andorran financial system. The requirement was put forward within the framework of the Monetary agreement between …

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The Council of Ministers of Andorra approved a new rule that eliminates the previous bill in relation to the nationality requirements of the directors of INAF

The Council of Ministers of Andorra on Wednesday approved a bill that eliminates the previous requirement of the government of Andorra in relation to the nationality of Directors of the National Institute of Finance (INAF). It was stated by the minister of finances of Andorra Jordi Cinca. Under the prior requirements, the directors of the …

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Deposits in the National Institute of Finance of Andorra (INAF) of all the applicants for “passive residence” without work permission since 2012 amount to 32 million euros

Deposits in the National Institute of Finance of Andorra (INAF) of all the applicants for “passive residence” without work permission since 2012 amount to 32 million euros. According to the Government of Andorra, the total number of applicants amounted to 918.

28.6 million euros (50,000 euros) were collected from principal applicants (572 people) and more than 3.4 million euros (10,000 …

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National Institute of Finance of Andorra explained the procedure of the measures of the government of Andorra aimed at combating financial crimes of Banca Privada D’Andorra

National Institute of Finance of Andorra (Andorra Institut National de Finances, INAF) in its statement explained the procedure of the measures of the government of Andorra aimed at combating financial crimes of one of the largest banks in Andorra BPA (Banca Privada D’Andorra).

On March 10, 2015, U.S. Treasury Department accused BPA in laundering billions of Russian and …

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