How to open a bank account in Spain

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Section for people wanting to buy, sell or rent property in Spain.

Please note that this information is no longer up to date due to the huge reforms and fusions taking place in the banking sector at the moment in Spain. We will update it shortly.

In Spain two kinds of bank accounts exist for internationalclients: cuenta para residentes (for customers with a Spanish residencepermit), and cuenta para no residentes for non-resident clients. This isdue to the difference in tax obligations for residents and non-residents. Accordingto Spanish law, individuals who satisfy one of the following conditions are deemedresident for tax purposes:

  • People who spend 183 days per year or morein Spain
  • People who have made Spain the centre of their business or professionalactivity
  • People with a spouse or underage children who are resident inSpain.

Most returns earned by non-residents from from Spanish bankaccounts or other financial investments are generally exempt from taxes in Spain,although they may be taxable in the country of residence. People intending toinvest money in Spain should get professional advice to assess their particularsituation.

How to open a bank account in Spain if you are resident here:Simply go to the bank with your Spanish residence permit and you will be ableto open an account there and then.

How to open a bank account in Spainif you are non-resident: Go to the bank of your choice with your passportand, if possible, a standard non-resident certificate.

To obtain a certificate,go to your nearest Police station (Dirección General de la Policía)with your passport and a full photocopy of your passport and apply for a "certificadode no residencia". You will have to go and collect it about 10 days afterapplying.

These days more and more Spanish banks do not insist on non-residentsgiving them a certificate. Some even offer to apply for one on their client'sbehalf, which saves you from having to go to the Police Station yourself. Theygenerally charge about 15 euros for this service. Banks are obliged to check thatclients still have non-resident status every two years

Spanish banks donot insist on a minimum deposit on opening a bank account in euros, but they mayif you want to open your Spanish bank account in another currency.

MostSpanish banks will charge you a small sum for opening the account and all bankscharge a small amount (15-25 euros per year) for maintenance.

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