Whether you plan to reside in Spain, become a Spanish student or open a new business, one of the most important things you must do is consider opening a bank account. You may be wondering, “Can I open a bank account in Spain?” and the answer to this question is “Yes.” While obtaining a bank account isn’t a legal requirement, it can go a long way to making all of your transactions much easier.
When investigating how to open a bank account in Spain, you must determine the type of account that you will require; a non-resident bank account or a resident bank account.
A Non-Resident Bank Account in Spain
To set up bank account in Spain of the non-resident type, requires that you reside within the country for no more than 183 days per year. While this type of account may incur more fees and therefore be more costly, you reap the benefit of not having to pay taxes on the funds within the account. This type of account can also easily be changed to a resident account at any time in the future.
To set up bank account in Barcelona or in other Spanish cities of the non-resident type, you must provide the following:
- A valid passport or national identity card if you are a citizen of the EU.
- Proof of your Spanish address (such as a recent utility bill).
- Proof of employment (such as a pay stub or a government tax return).
- Some banks will also require a ‘Certificado de No Residente’, proving that you are a non-resident.
A Resident Bank Account in Spain
To open resident type bank account in Barcelona or in other regions of Spain, you must reside within the country for more than 183 days per year. This particular type of account is often more affordable and has fewer fees than a non-resident account. In order to open a resident bank account you will be required to provide the following information:
- A valid passport or national identity card if you are a citizen of the EU.
- Proof of your Spanish address (such as a recent utility bill).
- Your NIE number
- Proof of employment (such as a pay stub or a government tax return).
While it is possible to open either of these accounts online, doing so in person at your closest branch, may be easier.
If you are wondering, “How do I open a bank account in Spain?” Lusa Legal can help. Our team of professionals can assist you in gathering all of the pertinent documentation that you will require and can walk you through the steps of opening your own bank account, no matter which type best suits your personal and business needs. You can reach us now for additional questions.
Service Price*
From € 350
* Estimated service price, total amount will depend on the particular case and additional services required.
VAT is not included in the price.
