Business accounts: Spain

Updated 5 October 2026

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Spain is a eurozone EU country where banks are supervised by the Bank of Spain and European banking supervision. A Spanish bank account is needed by companies operating in Spain and by people moving there for work, study or on the entrepreneur visa. The key requirement for a foreigner is the foreigner identity number (NIE), without which banks and the tax agency can do almost nothing.

What you need for an account

• NIE. A personal number assigned to foreigners with economic, professional or social ties to Spain. EU citizens can open an account with a passport or ID card plus the NIE; non-EU nationals with their foreigner identity card.
• A link to Spain. Work, a company, study, property or a residence permit.
• Source of funds and the purpose of the account.

An account for a Spanish company

For a Spanish limited company (SL) the account is opened before registration, as the capital is paid into it. Corporate income tax in Spain is 25%, and new companies pay 15% in their first profitable tax period and the next one. If you are moving with your own project, see the Spanish startup visa, which requires a business plan and an innovative project.

Personal account

Anyone legally resident in the EU has the right to open a basic payment account in Spain: banks must offer it and may not make it conditional on buying other services. People who are just moving usually open the account after obtaining the NIE.

Documents

• passport and NIE, or the foreigner identity card for non-EU nationals;
• proof of address and source of income;
• for a company, constitutional documents, the company tax number and beneficial owner details;
• a description of the activity and expected turnover.

Deposit protection

Deposits in Spanish banks, as across the EU, are protected by a guarantee scheme up to EUR 100,000, about $112,040, per depositor per bank. The rate is the European Central Bank rate of 5 October 2026.

An account when relocating

If you are moving to Spain, the usual order is the NIE, proof of address, the account, then company registration and tax registration. More on our Spain residence page.

Why applications are refused

• no NIE or residence documents;
• the company is registered abroad and does not operate in Spain;
• an unverified source of funds;
• links to sanctioned countries.

What we do

We help obtain the NIE, choose the bank, prepare documents for a company or an individual, and handle the account opening and company registration. A manager will calculate the cost in the chat.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · All country programs

FAQ