The legal framework for the provision of the Gaming Services in Andorra is currently being written.
Gambling legislation in Andorra as of 2017 is being actively discussed and rewritten. At the present time the main law is 37/2014 dated December 11.This is the law that regulates all trends of the gambling industry. Bingo was the only game that has been regulated up until now by Law 28 that came into effect in November 1996. Not too long ago the government introduced some amendments and today bingo is regulated by Law 28/2012 that was adopted October 18, 2012.
The entity making the application is an Andorran Company under the Corporation Act 1983.
a) Limited Liability Company
c) General Partnership
The license will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.
• The Gaming Company will need at least one shareholder.
• Corporate shareholding is allowed and 100% foreign ownership is permitted.
The License must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.
The Applicant must employ at least one legal representative residing in the Country or appoint a resident Agent.
The applicant must have premises acceptable to the AFA. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.
The License, within one month after becoming licensed, shall appoint an external auditor who is acceptable to the Commission.
The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the AFA.
The Applicant must have the prescribed minimum paid-up capital and is able to meet the prescribed minimum net liquid capital requirement in cash or readily marketable securities. The prescribed minimum paid-up capital is € 3,000 (Approximately USD 3,300).