🇪🇸 Opening a Bank Account in Spain
Honest assessment of business banking for foreign founders in Spain.
Ease of opening:3/5
Typical timeline: 1–3 weeks
Best Answer
Spanish banks (Santander, BBVA, CaixaBank, Sabadell) require an in-person visit for business account opening. Non-residents need their NIE, passport, company incorporation documents, and proof of address. Some banks request a business plan or evidence of economic activity in Spain. Digital banks (Revolut Business, Wise) can act as interim solutions. Banking is smoother once the company is registered in the Registro Mercantil and has a definitive CIF.
Tips for Success
- Have all company formation documents ready before applying — trade licence, articles of association, certificate of incorporation.
- Prepare a clear business plan or description of your business activities, even if the bank doesn't explicitly ask for one.
- Consider digital/neo-banks as your first account — they typically have faster onboarding for new companies.
- Apply to multiple banks simultaneously rather than sequentially — rejection at one doesn't affect others.
This content is educational and does not constitute legal or tax advice. Always consult a qualified professional for your specific situation. Data last verified March 2026.