Spanish regulation and banking standards make very easy for foreign people to open a personal bank account in Spain. There are three main types of accounts: current account, deposit account and savings account.
Depending in the status of the client, those who hold a residence permit must present their NIE (identity card for foreign residents) and apply for the bank account. In this case they will be treated as a local client and the same requirement will be demanded. Otherwise those without resident status will need a non-residence certificate issued by the police and their passport or photographic national ID. The bank may offer to request the non-resident certificate in the client’s behalf, in that case they will normally charge a fee.
Additionally a proof of status or occupation, a confirmation of address and other proving document may be required depending in the bank you choose.
In both situation the international client of spanish bank might be subject to the income taxation system based on the Spanish tax law. We recommend to check with a tax advisor the conditions of exemption and the consequences of holding a bank account.
Many bank branches in tourist areas such as the Costa del Sol offer specialized services to their expat customers. Multilingual staff are trained to deal with their requirements.
When choosing a bank you should be aware that international banks operating in the Costal del Sol do business under the local law and they are independent from their headquarters in the origin country.
Bank charges and commission may vary quite significantly form one bank to another. Checking them is highly advisable before considering a specific bank.
If you have any doubt, contact with SpanishLawyers.eu | UNIABOGADOS, we can offer you our banking law services.
