If you plan to reside in Spain for several months of the year, you will need to open an account at a local bank branch. It is especially important to have a Spanish bank account if your plans also include buying property or starting your own business. Along with paying for real estate transactions, you will also need a bank account to conclude contracts for the provision of utilities, to supply your home with electricity, water and gas. Another advantage of opening an account with a Spanish bank is access to receiving mortgage loans and bank loans.
Spanish banks offer services for opening accounts for residents and non-residents. Bank accounts for non-residents are generally subject to higher fees. Their advantage, in turn, is that the income from the capital received from these accounts is not taxed. Non-residents are individuals who stay in Spain for less than 183 days (six months) during a calendar year and are not engaged in their main professional activities in the territory of this country. Some large banks offer their customers services for opening accounts for non-residents with reduced commission fees for translation Money from foreign countries. It is worth noting that Spanish banks do not require large initial amounts to be deposited to open an account.
To open bank account non-resident you will need the following documents:
A certificate confirming your status as a non-resident, which can be obtained from the relevant police department. It may take about two weeks to complete. Most often, banks themselves are engaged in obtaining this document, subsequently charging the client a certain amount for performing this operation.
Passport or NIE (Alien Identification Number)
Documents confirming employment / Tax return
Documents confirming registration at the place of residence
Letter of recommendation from your bank
Account service fees and Banking services for residents, as well as the cost international transfers funds are lower than the fees for non-residents. In any case, it is advisable to seek the help of a lawyer or a paperwork consultant to obtain complete information on the procedure for opening bank accounts for non-EU citizens.
When buying property in Spain Russian citizens are required to provide a number of additional documents. You will need copies tax return over the past two years, a letter of recommendation from Russian bank, confirming that you have the funds necessary to complete the transaction on your account and your reputation as a reliable client, as well as documents related to your work activity and a certificate from the place of work indicating the annual salary.
To open a current account for a legal entity, you will need a copy of the annual financial statements and other documents related to your entrepreneurial activity. Going for a preliminary conversation with a bank employee, take your company's advertising booklets and business cards with you. During the conversation, try to provide as much as possible useful information, provide your website address. If you own real estate in Russia, you will also need documents confirming ownership or, if necessary, the fact that the property has been sold within the last year.
Spanish banks carry out an assessment of the creditworthiness of their customers. In most cases, to obtain a positive credit score, your monthly salary must be three to four times the amount needed to cover your expenses. If you are married, you do not need to submit documents for both partners.
To assess your creditworthiness, the bank will need the following documents:
Tax return for at least the last 2 years.
Certificate of incorporation of your company if you are a member or founder joint-stock company or an employment contract if you are an employee.
Lease agreement, if necessary.
Credit report from the National Bureau of Credit Histories (NBCH).
First of all, the funds needed to purchase a property must be transferred to your Spanish bank account directly from your personal account in Russia. It is not recommended to use offshore or foreign companies for real estate transactions.
The amount of funds transferred should not exceed the amount of official income you specified. Otherwise, you will need to provide a number of additional documents confirming the legality of your income, for example, from the sale of your company or any property. If you still intend to make a real estate purchase transaction in which a legal entity will act as a buyer, you will need a significantly larger number of documents to confirm the legality of the transaction.
Potential buyers of real estate in Spain should keep in mind that local banks are actively involved in the fight against laundering/legalization of dubious capital. If the documents you provide do not meet the established standards, you may be denied the transfer of funds to a Spanish bank account.
31/08/2017It will be somewhat easier to open an account for those who plan to buy property in Spain. If at the same time you visit the bank together with a realtor who in good standing at this branch, the guarantee is 100%.
In general, according to people who opened accounts in Spanish banks, personal contact with branch employees and mutual sympathy play a very important role in this process. Among the tips of the "experienced" there is also this: it is better to open an account not in a large, but in a small bank, as they treat non-residents better and value each client. In any case, the choice is yours.
As for the required documents, in addition to the passport, you will need a NIE (Alien Identification Number) , and in case of its absence, a certificate of non-resident (Certificado de no residencia), which can be obtained at any police station (Policía Nacional) or office for work with foreign citizens(Oficina de Extranjeria). To do this, you need to present a valid passport and wait 5-10 days. Also, this document can be obtained from outside of Spain, through the Spanish consulate or embassy in your country. Another option: the bank itself requests a non-resident certificate, but it will charge you a certain amount for this, and your account will be blocked until the bank receives the required document.
You will almost certainly be asked for an income confirmation document (2-NDFL or 3-NDFL), which is best submitted in English. An account can be opened without this, but it will be blocked until the bank receives the relevant documents.
If you have a residence permit in Spain (Certificado de Empadronamiento), this will be a definite plus.
A non-resident who opens an account with a Spanish bank can receive a debit card or a credit card if the bank considers it trustworthy, although the latter is currently very unlikely. Also, when opening an account, you will receive an online access card to your account. Such a card will allow you to perform almost any action with the account without contacting a physical office: transfer money, request loans, track the movement of the account, replenish the balance mobile phones, open deposits and savings accounts and much more. However, now many banks refuse such cards and switch to confirmation codes that come to your mobile phone.
A debit card and an online account access card are free of charge in most Spanish banks, but you will have to pay an account maintenance fee. For example, Banco Sabadell charges around €30 per quarter. To this, you also need to add the tax for a non-resident, levied once a year - about €40. In case of obtaining a residence permit, it is necessary to submit documents to your bank and change the status of the account to a resident one. A resident of Spain is obliged to pay taxes in this country, but has advantages in obtaining loans.
So, as we have seen, opening an account in a Spanish bank for a foreigner is not such a difficult task, you just need to take into account certain points and contact a financial institution that is loyal to non-residents. If you have any questions, our specialists will be happy to answer them and assist you in opening an account in a Spanish bank.
Now you can read the most popular articles about life in Spain and useful life hacks from insiders on our page in "Yandex.Zen". Subscribe!
España Service will assist in the successful opening a bank account in Spain for individuals and legal entities and prepare all the necessary documents for their subsequent submission to the credit institution.
The procedure for opening a bank account in Spain is not too complicated and does not have any pitfalls, but the key to success is a competent selection financial documents depending on the specific case and their qualified translation.
To open an account, you can use the services of a Spanish bank, or issue a general power of attorney to the organization for the right to exercise necessary action on behalf of a natural or legal person.
At this stage, you will need to create your list of requirements for credit organization and wishes of the bank itself to you. the largest banks with an extensive network of service offices throughout Spain are Santander, BBVA, Sabadell, Caixa, Bankia.
All of the listed banking institutions work with both private and legal entities and have a large product line.
The entire procedure usually takes from a few hours to a couple of days. At the same time, an independent trip should be planned only if you can speak Spanish fluently or live in Spain on a permanent basis.
The bank will need to explain the reason for opening an account and, depending on the goals, submit one or another list of documents.
For individuals, there are several main types of accounts:
Salary account (Nomina)
In the first case, the account is opened upon availability employment contract or regular legal replenishment of funds to the opened account (as a rule) over 600 Euro per month. The advantage of this account is obvious -no costsfor his service.
regular account
In the second case, the account holder is obliged to pay for the service in the amount of 20 euros per month. Mandatory payment when opening an account at least 100 Euros for both cases.
Account for companies and enterprises
Clients who open this species accounts are of great interest to banks because they have the opportunity to receive a constant turnover of funds.
The holder of this account is provided with great benefits and, in principle, free service subject to the basic conditions:
Deposit account
It is necessary for the placement of available funds and obtaining a constant profit.
The requirements of the bank when opening an account are very simple, they need to clearly understand your credit history and the origin of funds, especially foreign ones. For these purposes, the bank will ask you to provide documents confirming your legal source of income which may be:
The above documents must be provided translated by an official translator. Originals + translation.
If you have these documents, the bank will ask you to fill out a short form and sign an agreement. If desired, you can issue a debit or credit card.
Most profitable terms cooperation with the bank is usually received by promising and trustworthy clients with a net credit history, therefore, it is better for potential clients to try to find a person or company that can recommend you as a client and make recommendations.
The main advantage is the stability and security of invested funds. The ability to make payments within the EU without charging additional exchange differences and free transfers to the account of money from neighboring countries of the European Union.
For any buyer of real estate in Spain, of particular interest is banking system countries. Why? After all, all payments for the acquired property are made directly from the bank account. Also, those who plan to use mortgage lending are especially interested in this issue.
To open an account with a Spanish bank by a foreigner, the following documents are required:
The procedure for opening an account includes signing an agreement with the bank for its maintenance, which will indicate the main owner of the account (Spanish: titular). Also, one or more trusted persons with the right to access the account (Spanish autorizado) can be entered in the text of the document.
All Spanish banks offer customers a fairly convenient service: account management through personal internet account(Internet banking). Depending on tariffs financial institution, you will be charged a fixed monthly fee for using Internet banking. To withdraw cash from an ATM, you can order plastic card, annual maintenance which will cost you 25-30 euros.
You can replenish your account at any branch of the bank, however, issues related to extending the validity of the deposit, closing it, receiving debit card, changing the data of Internet banking, you will have to decide in the branch where your account was opened. Also, do not forget that all banking institutions in Spain are open until 14:00 only on weekdays.
When transferring money from a Russian to a Spanish bank account, in order to avoid a fine, do not forget to notify the Russian tax office at the place of residence to open an account abroad. received in tax certificate presented to the Russian bank in which you have an account.
Our compatriots often open accounts in banking institutions and savings banks in Spain. This is necessary, for example, if you plan to transfer money to buy a home, as well as for other purposes.
The Russian-Spanish company Costaiberia helps foreigners without a residence permit, as well as those who have already received a Spanish resident card, in opening bank accounts in Spain. With our help, you can become a client of a Spanish bank without unnecessary hassle and language misunderstanding.
The very procedure for opening a current, card or deposit account in Spain is not as simple as in Russia, especially if you open an account without planning to buy a villa or apartment. So, if you are thinking about how to open a bank account in Spain, it is better to first consult with professionals.
Spanish banks are very different and there are those that are famous for their special treatment of non-residents. They may refuse to open an account or, having learned that you are from Russia, require many additional documents. It is not uncommon for Russians to be required to immediately deposit a certain amount into the account, although this is not at all necessary for the Spaniards themselves.
To apply to a Spanish bank you will need:
When submitting income documents, you must take into account that the bank will track the receipts in your account in accordance with the specified income. And in case of exceeding the amounts specified in your financial reporting, the bank has the right to block the account until additional evidence of the legality of the source of the funds received is provided.
Maintaining an account in Spain requires certain expenses, just like in Russia. You will need to pay an annual maintenance fee plus pay for all banking fees(for opening a card, withdrawing funds, and so on). On average, the cost of maintaining an account in Spain ranges from 15 to 100 euros per year, depending on the set of services provided by the bank you choose.
For this money, you get not only an account, but also access to Internet banking, and over time, you will be able to get a loan at a low rate or get a credit card.
Consultation in the Russian-Spanish company "Costaiberia" will save you from mistakes in the process of opening a bank account. You can also easily obtain a residence permit in Spain when buying a property or a residence permit for an investor, which open up wide opportunities for you to live and work in one of best countries EU.
