🇪🇸 Why You Need a Spanish Business Bank Account
To operate legally in Spain, most companies (SLs or autónomos) must open a Spanish corporate bank account. It’s essential for:
✅ Tax payments and government filings
✅ Paying employee salaries and invoices
✅ Receiving client payments locally
✅ Demonstrating economic substance for visas or tax residency
🏗️ When in the Business Setup Process to Open the Account
You’ll need a bank account at two key points:
1. Before company incorporation (for SLs)
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Deposit the share capital (€3,000 minimum)
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Get a bank certificate of funds (certificación bancaria)
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This is submitted to the notary for incorporation
2. After receiving the CIF (tax ID)
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Convert the pre-incorporation account to a fully operational business account
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Begin normal banking activity (debit card, online banking, direct debits, etc.)
💡 Many foreign owners use a Power of Attorney (POA) to have a lawyer open the account on their behalf.
📋 Documents Required to Open a Business Bank Account in Spain
| For SL Companies | For Autónomos |
|---|---|
| NIE/NIF of director/shareholders | NIE/NIF of the freelancer |
| Company deed (escritura) | Tax registration (Modelo 036/037) |
| CIF (corporate tax number) | Professional license (if required) |
| Company registry certificate | Business activity code (IAE) |
| Proof of address | Proof of address |
📌 Most banks will also ask about business activity, expected transactions, and origin of funds (AML rules).
🏦 Best Spanish Banks for Foreign Business Owners
| Bank | Features |
|---|---|
| Banco Sabadell | English-speaking staff, good for startups & expats |
| CaixaBank | Branch network + online business banking |
| BBVA | User-friendly mobile app, online appointment setup |
| Santander | Global reach, more formal onboarding |
| N26 Spain | Online-only; may not support full SL requirements |
💡 Not all banks are comfortable with foreign UBOs (ultimate beneficial owners) or non-resident directors — legal support helps navigate this.
🌍 Can You Open a Spanish Bank Account Remotely?
Yes — with a Power of Attorney (POA), a legal representative in Spain can:
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Visit the bank in person
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Submit the required documentation
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Sign for the pre-incorporation certificate
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Activate the final account after CIF is issued
This is especially useful for:
✅ Non-EU founders
✅ Owners with no Spanish address
✅ Company formation from abroad
📌 We assist with drafting and legalizing POA documents in your home country.
💶 Fees, Maintenance, and Restrictions
| Bank Fee Type | Typical Cost (per month) |
|---|---|
| Account maintenance | €6–€20 |
| Transfer fees (non-SEPA) | €15–€30 |
| Debit/credit card fees | €0–€30/year |
| Incoming international | May trigger AML checks |
⚠️ Be aware: Banks can freeze accounts if documentation is incomplete or transactions are flagged.
❌ Common Problems to Avoid
⛔ Using a personal account for business transactions
⛔ Submitting incomplete or foreign-language documents
⛔ Waiting until the last minute (banks are slow)
⛔ Choosing the wrong bank for your structure (SL vs. branch)
🧑💼 We Help Foreigners Open Business Accounts in Spain
Borderless Lawyers provides:
✅ Legal Power of Attorney to open account on your behalf
✅ Bank selection and appointment scheduling
✅ Document preparation and translations
✅ Guidance for freelancers and corporate structures
✅ Support for ongoing compliance and renewals
📞 Open a Business Bank Account in Spain — Without the Hassle
We make it simple to open a Spanish bank account for your company — even if you’re not in the country. Trusted by remote founders, entrepreneurs, and global businesses.
👉 Contact us to open your business account in Spain with full legal support.