Andorra crypto: law, tax and licensed firms

Questions about crypto in Andorra usually come in this order: whether it's legal, where to buy, how the taxman gets paid and what happens with platforms based abroad.

If your company deals in digital assets, the tech business page explains the rest of your obligations.

The AFA register lists five authorised firms. They're two banks, a financial firm, a custody company and a digital assets company. The table on this page gives their register number and the date they were registered.

Fimarge is listed for custody and for receiving and transmitting orders, without executing them. Onyze Assets shares its registered office with Crèdit Andorrà, at Avinguda Meritxell 80.

According to the AFA's annual report, no new authorisation applications came in during 2025. If someone offers you crypto services from Andorra and isn't on that register, they don't hold an Andorran licence.

The register is public on afa.ad, and it shows what each firm is authorised to do.

The law added a tax provision that treats cryptocurrencies as intangible fixed assets. If you hold them to sell as a business, they count as stock.

For a person who is tax resident in Andorra, income from cryptocurrencies is declared for income tax (IRPF). Swapping one cryptocurrency for another, or for euros, produces a capital gain or loss, which goes into the savings base. The IRPF rate is 10%.

If you have capital gains or losses, you must file a return, from 1 April to 30 September of the following year.

Two rules reduce the bill. Losses can be offset against capital income for five years. And if you reinvest everything you made in Andorra, the gain is reduced by 25% for each year of holding, from the second year onwards.

An example with round numbers. You bought cryptocurrencies for €6,000 and sell them for €10,000. That €4,000 difference is a capital gain and goes into the savings base.

If two years earlier you lost €1,000 on another sale, you can still offset it, because you're within the five-year period. The final bill depends on the rest of your income, so check the full return on e-tràmits.

Under IGI (Andorra's VAT), the transfer of cryptocurrencies is taxable but exempt.

If you live abroad, you're taxed under your own country's rules. Being tax resident in Andorra means spending more than 183 days a year here or having your centre of economic interests here. The tech jobs page explains it.

A company holding cryptocurrencies records them as intangible fixed assets and pays corporate tax. If you're also going to provide crypto-asset services, you need the AFA licence before you start.

The other rules that apply to you, from data protection to cybersecurity, are on the tech business page. If your project is a blockchain startup, the same page covers the startup status under Llei 42/2022.

The European Union applies its MiCA regulation on crypto-assets. The AFA expects that adapting to MiCA will mean changing Llei 24/2022, with a target date before December 2027. No text has been approved.

Until then, Andorran law is what applies here. An AFA licence isn't the same as an EU MiCA licence.

In 2022 the European financial supervisors warned that anyone buying crypto-assets has a very real chance of losing all the money they put in. In 2025 ESMA, EBA and EIOPA repeated the warning after MiCA. Depending on the crypto-asset, legal protection may be limited or non-existent.

This page explains the law and the taxes. It doesn't recommend buying, selling or holding any crypto-asset.

If you plan to use a platform based abroad, check first whether it appears on the AFA register. If it doesn't, it holds no Andorran licence.

• Look the firm up on the AFA register.
• Keep the receipts for every purchase and sale for your income tax return.
• Read what protection you have if the platform shuts down.
• If in doubt, ask a registered tax adviser before you file.

Who else works in tech in Andorra is in the tech ecosystem, and the directory lists the companies.