Open a savings or credit account in Spain for non-residents is not too complicated, however the new regulations introduced in May 2014 by the Central Bank of Spain, for prevent the money laundering, require to be fulfilled a conditions.
When we open a bank account, it distinguishes between residents and nonresidents. Anybody not resident in Spain can open an account (whether for leisure, work or studies) providing some documents; your ID, situation in spain (work, vacation or study) ands tax documents from the previous year justifying the origin of the funds to deposit. All documents with the original and a copy.
Although the criteria may vary depending on the bank, we will detail each and every one of the documents that generally are required when you open an account in a Spanish bank.
- Passport
- Certificate of non-residence.
This document is available at the Spanish consulate or in each city, at Police Headquarters, showing your passport. - Proof of income.
Is necessary to show the activity that you develop in your country, bank average balance and the last personal income tax, including original and copy of a sworn translation into Spanish. Depending on the entity this translation can be done by a translator of the country of origin, however many banks exigen the documents translated by a translator from Spain. The translation of documents is the worst part of the procedure for the high costs. - References origin Bank.
Other of the requirements that may ask to you for open an account is some bank references in your country, as a certificate of your account stating ownership and balance.
The bank can ask you to deliver the same documentation annually or every two years.
The operations and commissions of the account is equal to any other resident, except non-resident tax charged by the General Direction of Police, which costs around 30 euros.
Usually the spanish banks do not provide credit cards, only debit to non-resident customers and the allowed overdrafts are lower.
Furthermore, it's important to renew the bank documentation that we described above if we want to avoid the block of the account and finally canceled by lapse of time.
In what banks we can open an account?
All banks offer open an account for non-residents, however we will recommend some of the best operational banks and the most common for non-residents ...
- Banco Sabadell
- Banco Mare Nostrum
- La Caixa.
- Bankinter
- Unicaja
You can receive more information or professional assistance in legal and financial issues sending an email to albertotellofdez@gmail.com
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