Despite the economic crisis that has affected Spain in recent years, the banking culture on the other side of the Pyrenees allows non-Spanish residents to enjoy many advantages.
Opening an account in Spain for non-residents
Whether for professional reasons or for a stay, opening an account with a Spanish bank is very simple and offers numerous advantages: online account management, the possibility of making international transfers. Additionally, the economic recovery initiated at the end of 2013 has attracted many foreign investors.
What are the necessary documents?
Depending on the banks, you may be asked for additional documents. To ensure you won't encounter any issues when opening an account, here are the documents you should have with you:
Important: You must renew the non-residency certificate every 2 years or inform the bank if you become a resident.
Can a non-resident open a bank account in Spain remotely?
It's not possible to open a bank account in Spain remotely, so you must travel to meet with the banker. If necessary, you can use the services of an interpreter or advisory firm. Bring your identification documents and proof of address with you. Some banks may require a non-residency certificate. If you become a Spanish resident, make sure to inform your banker.
Is an initial deposit required?
Traditionally, Spanish banks do not require a significant initial deposit; a few hundred euros are sufficient. Account openings are free. Note that non-resident travelers in Spain must declare all cash amounts over €6010.
Which bank should I open my account with?
In Spain you will find universal banks and savings banks. The services offered by both are very similar.