OPENING A BANK ACCOUNT IN SPAIN

When moving to Spain without a bank account – nowhere. You will need it when buying real estate if you have come to work or just plan to stay in the country for a while. A Spanish bank account can be opened by both a resident and a non-resident of the country, but not all Spanish banks allow foreign citizens to open an account. Let’s start with the fact that there are two types of accounts in the Bank of Spain for foreigners: a non-resident account (without a residence permit) and a resident account (with a residence permit).

To open an account in Spain, you must provide:

• Passport
• work certificates,
• NIE (identification code)
• declarations of 2-PTFO,
• from entrepreneurs – 3-PTFO.

The Bank has the right to request additional documents if it considers them necessary. All documents must be translated into Spanish by a sworn translator. If you decide to open an account yourself, get ready to go to the bank more than once.

The first and probably the main task of relocation or business migration to Spain is opening a bank account, as Spain and all other EU countries work in almost all cases on non-cash payments.

If you want to open a bank account in Spain for the purchase of the real estate, you will definitely be asked for a reserve or deposit agreement, and after the transaction is completed – a notarial deed.

The most popular banks in Spain are:

• Banco Santander
• BBVA
• Banc Sabadell
• CaixaBank

Opening a bank account in Spain: procedure and benefits for Ukrainians

Opening an account in a Polish bank gives an opportunity

• Security of invested funds;
• Ability to transfer funds within the EU without additional fees;
• Ability to carry out transactions online;
• Automatic payment of financial and administrative obligations in case of ownership of real estate.

To open an account in a Spanish bank, you must personally come to the bank branch and provide the necessary documents.

Assistance in opening a bank account in Spain includes consulting a lawyer on the availability of appropriate documents for opening an account, conditions for opening an account, bank tariffs, escorting to the bank, assistance in filling out bank documents, and other services in the banking sector. Some banks in Spain usually send the bank card to your address a few days after submitting the documents, rather than issuing the bank card immediately.

Opening and maintaining an account in a Spanish bank is one of the main activities of our lawyers and economists. Sign up for a consultation and see for yourself the professionalism.

Importantly! On the websites of many banks, there are hotlines that you can call and find out all the information yourself, but you may encounter the problem of not understanding the Spanish language or Spanish banking terminology. That is why we recommend that you book a consultation with our lawyers before contacting the banks.