Non-residents: Opening a bank account in Spain

Despite recent economic challenges, Spain’s banking system offers many advantages to non-residents.

OPENING AN ACCOUNT IN SPAIN FOR NON-RESIDENTS

• Simple process, whether for professional reasons or a temporary stay
• Advantages include online account management and international transfers
• Spain’s economic recovery (since late 2013) has attracted many foreign investors

WHAT DOCUMENTS ARE NEEDED?

• Non-residency certificate (N.I.E. – foreigner identification number)
• Valid passport or identity card
• Latest tax return

Important: The non-residency certificate must be renewed every 2 years, or you must inform the bank if you become a resident.

CAN A NON-RESIDENT OPEN A BANK ACCOUNT REMOTELY?

• No — you must visit the bank in person to open an account
• If needed, you can use an interpreter or advisory firm
• Bring identification documents and proof of address
• Some banks may require a non-residency certificate
• If you become a resident, notify your banker

IS AN INITIAL DEPOSIT REQUIRED?

• Generally, only a few hundred euros are needed
• Account openings are free
• Non-resident travelers must declare cash amounts over €6010

WHICH BANK SHOULD YOU CHOOSE?

• Spain offers both universal banks and savings banks
• The services provided by both types are very similar