Bank account opening

We advise you and offer all the facilities to open a bank account in Spain.

To open a bank account in Spain is quite straight forward. The added value of Henry Towers is the holistic approach we take for our customers, in this case we will certainly provide you our recommendation based on the potential tax implications and the company profile and activity. As your partner in Spain (Madrid and Barcelona) we will take care of all the process on your behalf. Opening a Spanish back account with our help will be extremely easy.

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  • Information
  • Requirements



  • Processing
  • Validating



  • Completion
  • Status

Opening a bank account is not a complex process in Spain, the banking system also allows you to do an incredible amount of online transactions. At Henry Towers we are going beyond the process, as your partner in Spain we will ensure you understand the options and provide you suggestions to ensure you make the best decision, as easy as one, two and three.

Information gathering and context understanding about opening an account

Our team will be working with you and your teams to understand the business context and any other information which may impact the different options.

Execution process of opening a bank account

Our team will proceed with the formalization on your behalf and, if you need so, we can be your representative in front of Spanish authorities.

Report during the process of opening a bank account

You will be notified of the processes we are working on as well as requested for validation of the information we will present on your behalf.

We can provide you the information on current regulations, guidelines, general notifications and relevant data issued by Banco de España.

Since 1 November 2014, the authorization to form credit institutions in Spain has resided with the European Central Bank.

Once the authorization has been granted and the institution has been incorporated and included in the Companies Register, credit institutions must register their directors, general managers or similar officers in the Registry of Institutions and in the Senior Officers Register, both in Banco de España.

The EU regulation for banking activities apply the principles of sole license and supervision by country of origin, whereby all credit institutions authorized by a European Union (EU) member state have what is called the "community passport”. Nevertheless, credit institutions from other member states wishing to operate in Spain, with or without a branch, must be registered in the Register of the Banco de España.

The Directive 2014/49/UE introduced new requirements to all credit institutions in order to be covered by a deposit guarantee system and in order to standardise the main elements of the system.

Lastly, there is an additional aspect that affects the undertaking of banking activities: the existence of a single monetary policy which, as for other credit institutions in the euro zone, requires Spanish credit institutions to hold minimum liquidity reserves in Banco de España, as established in Regulation (EC) 1745/2003.

Who can open a bank account in Spain?

Anyone can open a bank account in Spain, there are different types and status.

Types of bank accounts?

There are three types of bank accounts: current, savings and company account.  Moving money across any account is very simple.

Which status should I use to open a bank account?

You can open the bank account as a resident or a non-resident. Residents are those who at least fulfill on of the following:

  • Live in Spain more than 183 days a year.
  • Own a business in Spain.
  • Have a spouse or minor living in Spain.

Where should I open a bank account?

Spain has a large quantity of banking institutions, here is a list of the most reputable ones: La Caixa, Santander, BBVA, Bankinter.

Can I open a bank account from abroad?

Unfortunately, it is not possible to open a bank account from abroad. The banker need you or a representative in order to proceed with the account opening. In this Case Henry Towers can do this service for you.

Is it a requirement to make a deposit when opening a bank account?

It is not required to deposit any amount when opening a bank account, we recommend to deposit a few Euros to ensure you don’t enter into debt right away. Banking fees are not very expensive, a few hundred Euros will be sufficient. Note that non-resident in Spain must declare all sums in excess of 6,010 Euros in cash.

How much do it cost to open a bank account?

Opening an account itself is free of charge.

What is the main difference between a resident and non-resident bank account?

The difference between the two accounts is that for non-residents the account is not taxable.

Are there any fees involved in a bank account in Spain?

There are management fees, most banks charge a small amount for the annual management of the account, and this will be around 25 Euros.

Gerente de Contabilidad y Nóminas
Gerente de Contabilidad y Nóminas

This is a very unique service, where we will ensure you are fully compliant and up to date with your obligations towards Spanish legislation and tax authorities

Gerente de Contabilidad y Nóminas at Henry Towers