What do I need to open a bank account in Spain?
The first step to opening a bank account in Spain is determining whether you wish to open an account for as a resident or a non-resident. To ensure the process of opening an account is quick, follow the list below to make sure you have all necessary documents and information:
If you are a resident of Spain, you need, first of all, a valid ID document, NIE, Articles of Association (if you are a business).
If you are a non-resident, you can also open a bank account in Spain for foreigners. Then you need the following:
- A certificate of non-residency that can be obtained by going to a national police station.
- A passport or ID card
- Proof of employment status
- Proof of address
It is very important that you renew your certificate of non-residency on a periodic basis and that you notify the bank in time if you become a resident. Please also note that if you are a foreign natural person, you will be asked to have a valid ID document with a valid visa, a permit of permanent residence in the Kingdom of Spain, marine or diplomatic passport.
It should be noted that that the bank account for non-residents in Spain is not taxable.
The requirements to open a bank account in Spain for non-resident legal persons and offshore companies include among other documents necessary for any legal entity, a document (or its certified copy) proving CEO’s appointment of election; a registration certificate or its certified copy, a power of attorney issued by a foreign notary office or other competent body proving the representation rights:
Before opening an account bank in one of banks in Spain, it may be required that the director of the company or his representative submit a short business description and other relevant information.
Please note, that all documents must be translated into Spanish language and legalized (validated) in the relevant state body or in the event that a foreign country is a member of the Hague Convention, such documents are required to be validated by a foreign competent authority by issuing certificates to prove the origin/source of documents (apostille).
Currently, banks are very protective of their reputation. Therefore, in case of any suspicion that a business is making illegal activities or finding any negative information (e. g. criminal records) about company’s representatives, banks will normally not open bank accounts or will apply additional strict control, especially for non-residents. Non-resident should know, that it is not possible to open a bank account in Spain from abroad. So, in order to open an account in Spain, a foreigner must be in the country.
Nonetheless, we can help you in setting up a bank account in Spain. We can advise on how to choose the best bank and prepare necessary documents in Spanish. We can provide a consultation on opening of a bank account and a virtual bank account. Our experienced staff will help you on how to fulfil the necessary formalities for opening of a bank account in Spain.