Introduction
In this FAQ section by Accompany, we explain everything you need to know about opening a bank account in Spain: from the documents required and the difference between resident and non-resident accounts, to the best banks for expats and international businesses operating in the country.
Whether you are a foreign entrepreneur setting up a company in Spain, a European professional relocating to Barcelona or Madrid, or a non-resident investor managing assets in Spain, understanding how the Spanish banking system works — including NIE requirements, KYC compliance, remote account opening, and bank fees — is essential for a smooth financial setup from day one.
Documents Required to Open a Bank Account in Spain
The documentation required varies depending on whether you are a resident or non-resident, and whether the account is personal or corporate.
Documents for Residents
- Valid passport or national ID card.
- NIE (Número de Identificación de Extranjero) or TIE (Tarjeta de Identidad de Extranjero).
- Proof of address: census certificate (empadronamiento), utilities bill, or rental/property contract.
- Proof of employment or economic activity: payslips, tax returns, or official unemployment documentation.
Documents for Non-Residents
- Valid passport (original and copy).
- NIE number or the bank will initiate the process on your behalf (with an associated fee, typically around €15).
- Non-resident certificate (certificado de no residente), obtainable at a Dirección General de Policía office or through the bank.
- Proof of address in your country of residence.
- Source of funds documentation (required for AML/KYC compliance).
Do Documents Need Apostille or Translation?
Foreign documents submitted to a Spanish bank generally need to be:
- Translated into Spanish by a sworn translator (traductor jurado).
- Certified with the Hague Apostille if issued outside Spain by a country that is a signatory to the Apostille Convention.
This applies to proof of address, corporate documents, and shareholder identification for company accounts. Accompany can coordinate the translation and apostille process on your behalf.
Documents for Corporate Bank Accounts
If you are opening a bank account for a Spanish company (SL or SA), the bank will additionally require:
- Registered deed of constitution (escritura de constitución) — the account will not be activated until this is presented.
- Census declaration of start of operations (alta censal, Modelo 036).
- Identification and documentation for all shareholders — including apostilled and sworn-translated documents for foreign individuals or companies.
- Information on the beneficial owners of the company.
Can Foreigners Open a Bank Account in Spain?
Yes, foreigners can open a bank account in Spain, both as residents and non-residents. Spain imposes no nationality restrictions on account opening, although the required documents and account conditions differ depending on your residency status.
Resident vs Non-Resident Bank Accounts
The main distinction Spanish banks make is between resident accounts (cuenta de residente) and non-resident accounts (cuenta de no residente):
- Resident accounts offer more flexibility, better interest conditions, and access to the full range of products (mortgages, credit lines, direct debits).
- Non-resident accounts are designed for foreigners who live outside Spain but need to manage financial obligations in the country: property taxes, rental income, or company contributions.
- You can switch from one type to the other at any time by notifying your bank and presenting your residency documentation.
NIE Number: Is It Required?
The NIE (Número de Identificación de Extranjero) is Spain’s tax identification number for foreigners. Most banks require a NIE to open an account — or will apply for one on your behalf as part of the process.
- As a resident: your NIE is typically obtained as part of the residency registration process.
- As a non-resident: you can obtain a NIE at a Dirección General de Policía office, or Accompany can request it on your behalf via power of attorney.
Remote Account Opening and Power of Attorney
If you are not physically present in Spain, it is possible to open a bank account remotely. Accompany can act as your representative through a notarised Power of Attorney, request your Spanish tax ID (NIE), and complete the account opening on your behalf. This is a common route for non-resident investors and company shareholders based outside Spain.
KYC and Compliance Requirements
Spanish banks are subject to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Expect to provide documentation on the source of funds, the purpose of the account, and your professional activity — particularly for corporate accounts or if you are a non-resident. Having an adviser who understands these requirements can significantly reduce delays.
Resident or Non-Resident?
Opening a bank account is easy, no matter if you are a resident or a non-resident in Spain. The procedure in the nonresident case will be a bit longer but both options are relatively straightforward. You just need to go to the bank, present the required documents, and you instantly have your account operative.
It is worth considering that resident bank accounts are more flexible than non-resident ones and can offer better conditions. Nevertheless, if you are not planning to stay permanently in Spain, a non-resident bank account will be enough for you. No matter the option you choose, you can always switch from one type to the other once you get your residency. You just need no notify it to the bank and bring your residency card, and the change will be done.
There is no minimum deposit to open an account in euros (€), which makes the process even simpler. Nevertheless, for other currencies there may be a minimum amount; so, make sure you check it out beforehand.
If you are a nonresident and not physically available to come and sign the papers, we can assign a representative or prepare a Power of Attorney and can open the bank account for you remotely. We will request a Spanish tax ID number and open the bank account with this number.
How to open a bank account in Spain as a Resident
The best option is to go to the bank yourself. Bear in mind that not all the personnel will speak English there, so try booking an appointment with someone who does. We have bank relationships that have English speaking operators and will be happy to make introductions and to accompany you if needed.
This is also important for later, as having access to a real person that understands your language and needs and that can help to shortcut the bureaucracy can be crucial. For opening the bank account, you only need to bring your resident ID, but we recommend to also bring your passport, census certificate or utilities invoice with your name and address on it and property deed or rental contract just in case.
Some banks will also request proof of employment status. Valid documents are pay slips, tax returns or government letters confirming that you are unemployed or receiving financial support. You should bear in mind that all the documents you submit must be translated into Spanish and notarized with the Hague Apostille.
If you are opening a bank account for a company, bear in mind that the bank will require information from all the shareholders of the company and that the account will not be activated until you present them with the registered deed of constitution and the census declaration of start of operations. If the shareholders are foreign individuals or companies, sworn translations and apostille will be necessary.
How to open a bank account in Spain as a Non-Resident
The process is the same, but it includes an extra step: you will be required to submit a non-resident certificate. To obtain this document, you have two different options:
- Go to Dirección General Policía with your passport and copy and ask for a non-resident certificate. You will be able to pick it up after 10 days. Once you have obtained this document you will then be able to go to your chosen bank with your passport and have your account open. The account operative in the moment of opening it, immediately.
- Go to the bank and bring your passport. The bank will sign an authorization to request the certificate on your behalf, but with an associated cost of 15€. Bear in mind that the account will not be operative until they receive that certificate.
Resident or Nonresident, be patient and be prepared to sign a bunch of papers in duplicate as the process is still very manual and paper based in most Spanish banks.
Bank Commissions
In general, you will find that banking costs in Spain can be higher than in the rest of European countries. Nevertheless, the exact costs will depend and vary from bank to bank, so do your research and compare conditions.
There are a variety of charges that are not always clear and transparent so you should ask explicitly. These include opening charges and maintenance fees, ATM withdrawal fees, transfer fees (national and international) and exchange rate fees.
Often there are different levels of fees and benefits depending on the number of other services you contract with the bank like salary deposits, insurance, pension plans etc. It is also still quite common that the bank offers you some towels or pots and pans if you open an account but that is definitely not what you should be looking for.
Make sure to check your bank statements and establish a personal relationship with the manager of the bank office that is handling your account. It is not unusual for extra charges to magically appear, and in those cases only a call to your office manager will get them removed.
Best Banks in Spain for Expats and Non-Residents
Spanish banks are generally considered more traditional and paperwork-oriented compared to many international digital banking providers. That said, having an account with a licensed Spanish bank remains essential for fiscal and social security operations — digital-only alternatives like Revolut or N26 are not yet authorised to handle these obligations in Spain.
Below is a practical overview of the main options for expats, non-residents, and international businesses:
BBVA
- One of Spain’s two most international banks.
- Strong English-language online banking and mobile app.
- Good international transfer capabilities and competitive FX rates.
- Non-resident accounts available; relatively expat-friendly branch staff in major cities.
Banco Santander
- The other major international Spanish bank, with a global network.
- English support available in larger branches and through their digital channels.
- Useful for clients with operations in multiple countries (UK, Germany, Latin America).
- Competitive conditions for salary accounts and international transfers.
CaixaBank
- Largest domestic bank in Spain by number of clients and branches.
- Solid digital banking platform (CaixaBankNow).
- Wide branch network particularly useful outside major cities.
- English support is less consistent than BBVA or Santander.
Banco Sabadell
- Strong presence in Catalonia and a good option for Barcelona-based businesses.
- Historically expat-friendly, particularly for UK nationals (though its UK branch, TSB, is separate).
- Good business banking products for SMEs and international companies.
N26 and Revolut
- Fully digital banks with excellent apps, low fees, and competitive exchange rates.
- Useful as a complementary account for day-to-day spending and international transfers.
- Important limitation: not authorised by Spanish tax authorities (AEAT) or Social Security (TGSS) for fiscal or payroll obligations. Not suitable as a sole business bank in Spain.
Accompany has established collaboration agreements with the main Spanish banks and can facilitate introductions to English-speaking account managers, significantly reducing the paperwork burden for international clients. You can find the full list of banks accepted by AEAT here and those recognised by the Social Security (TGSS) here.
Opening a Bank Account in Spain: Next Steps
Navigating the Spanish banking system as a foreigner — whether as a resident, non-resident, or international business owner — involves more paperwork and bureaucracy than most expect. Understanding the right account type, the documents required, and which bank suits your specific situation are essential steps to getting your finances in order from day one.
For further assistance or personalised guidance, feel free to contact us at ACCOMPANY. Our team has established relationships with the main Spanish banks and can accompany you through the entire process — from obtaining your NIE to opening your account remotely via Power of Attorney. For more details on how we support international companies setting up in Spain, please visit our Business Services page.
