Case: Opened a bank account in Spain and deposited funds for purchasing real estate in the EU — for a non-resident client from Ukraine

A citizen of Ukraine who intended to purchase real estate in the European Union approached us. For the settlement, he possessed cash in the amount of 300,000 USD, which was located on the territory of Ukraine. The client did not have any residency in the EU, in particular in Spain, so he could not open an account and bring funds into the European financial system in the usual way for a resident.

The task for our team: to legally bring funds into the EU banking system — confirm their source of funds, declare them at customs, open a bank account in Spain, and deposit the funds in it so that the client could freely pay for the real estate.

Features and difficulties of the case

• The client is a non-resident of the EU and Spain. Spanish banks strictly check non-residents within the framework of compliance requirements and anti-money laundering (AML) legislation, so it is practically impossible to open an account and deposit a significant amount “from the street”.
• Significant amount of cash. Moving an amount of €10,000 or more across the European Union border requires mandatory declaration at customs — non-compliance with this requirement threatens the seizure of funds and sanctions.
• Source of funds confirmation. This is a key requirement of the bank: without a transparent and documented history of funds, the account will not be opened, and the transaction will be blocked.
• Documents in Ukrainian. Ukrainian tax returns have no legal force for Spanish banks and government authorities without proper legalization and official translation.

Initial advantages of the case

The client conducted official business activities as a Sole Proprietor (FOP), and his tax returns fully covered the required amount. That is, the source of funds was transparent and documented — this became a solid legal foundation for the entire case. Our task was to correctly formalize this evidence base and guide the funds through all stages in accordance with the requirements of Spanish legislation.

What we did

1. Analyzed the documents and formed the evidence base. We confirmed that the sole proprietor’s declarations covered the amount of 300,000 USD, and built a complete chain of confirmation of the source of funds.
2. Legalized Ukrainian declarations in Spain. We provided a sworn translation (traducción jurada) of the client’s documents so that they would acquire legal force for the bank and government authorities of Spain.
3. Prepared a complete package for opening an account. We processed all documents in accordance with the KYC/AML requirements of a specific bank to minimize the risk of refusal.
4. Supported the declaration of funds at customs. We prepared everything necessary for the legal import of cash and its declaration upon entry into Spain.
5. Personally met the client in Barcelona. Our lawyer accompanied the client directly at customs, ensuring the correct formalization of funds “on the spot”.
6. Opened a bank account and deposited the funds. We accompanied the client at the bank branch, ensuring the opening of the account and the crediting of funds without delays or additional checks.

Result

The client’s funds were legally brought into the European financial system: declared at customs, their source of funds was confirmed, and they were deposited into a bank account opened in Spain.

As a result, the client unhinderedly paid for real estate in the EU from his bank account in Spain — without blockings, additional requests, or risks to his assets.

Why they choose us

Bringing significant funds into the European financial system for a non-resident is not just a “money transfer”, but a series of legally sensitive steps where an error at any stage (non-declaration at customs, weak evidence base for the source of funds, incorrectly executed documents) leads to the blocking of the account and a loss of time. Our team takes over the entire process: from forming the evidence base and legalizing documents to personal support at customs and in the bank.

Are you planning to open an account in Spain and deposit funds to buy real estate in the EU? Leave a request — and we will prepare an individual roadmap with turnkey support for you.