Banking in Spain: A Guide for Foreign Non-Residents

As real estate advisors, we often come across clients who are looking to open a bank account in Spain, even if they are not yet residents of the country. In this article, we will provide a detailed guide on how to open a bank account in Spain as a foreign non-resident.

Step 1: Choose a Bank The first step is to choose a bank. In Spain, there are many banks to choose from, including national and international banks. Some of the most popular banks include BBVA, Santander, CaixaBank, and Sabadell. We recommend our clients to choose a bank that has branches in the area where they will be purchasing property.

Step 2: Gather Required Documentation The second step is to gather the required documentation. In order to open a bank account in Spain as a foreign non-resident, you will need to provide the following documentation:

  • Valid passport or national ID card
  • Proof of address (utility bill or bank statement from your home country)
  • Tax identification number (TIN) or foreign identification number (NIE)
  • Proof of income (such as a work contract, tax return, or bank statement)
  • A Spanish phone number (if possible)

It is important to note that some banks may require additional documentation, so it is best to check with the bank beforehand.

Step 3: Make an Appointment Once you have chosen a bank and gathered the required documentation, the next step is to make an appointment. In Spain, it is common for banks to require appointments to open a bank account. You can either make an appointment online or by visiting a branch.

Step 4: Attend the Appointment At the appointment, you will need to provide the required documentation and complete the necessary paperwork. You may also need to deposit an initial amount of money into the account. The bank will then review your application and inform you if your account has been approved.

Step 5: Activate Online Banking After your account has been approved, you can activate online banking. This will allow you to access your account, make transfers, and manage your finances from anywhere in the world.

In conclusion, opening a bank account in Spain as a foreign non-resident can be a straightforward process if you follow these steps.