How can non-residents open a business bank account in Spain?
Communication Team
Communication Team

January 06, 2023

Share

How can non-residents open a business bank account in Spain?

It is possible for non-residents to open a business bank account in Spain. The process of opening an account with traditional banks as a non-resident can be long and difficult. In general, you will need to provide proof of identification, such as a passport or national ID card, as well as proof of your business, such as a business registration certificate or articles of incorporation. You may also need to provide proof of address, such as a utility bill or rental agreement.

Before making your decision, it’s a good idea to research different banks in Spain and choose one that is suitable for your business needs. Consider factors such as fees, services offered, and location. Once you have chosen a bank, you can usually schedule an appointment to open a business bank account by contacting the bank directly. Make sure to bring all necessary documents with you to the appointment.

To open a business bank account in Spain as a non-resident, you will need to follow these steps:

  • Choose a bank: research different banks in Spain and decide which one is best for your business needs. Consider factors such as fees, services offered and location.
  • Prepare the necessary documents: you will need to provide proof of identification, such as a passport or national ID card, as well as proof of your business, such as a business registration certificate or articles of incorporation. You may also need to provide proof of address, such as a utility bill or rental agreement.
  • Schedule an appointment: Contact the bank you have chosen and schedule an appointment to open a business bank account. Make sure to bring all necessary documents with you to the appointment.
  • Attend the appointment: Go to the bank at the scheduled time and meet with a bank representative. They will review your documents and walk you through the process of opening a business bank account.
  • Set up online banking: Once your business bank account is set up, you can usually set up online banking to manage your account remotely.
  • If your documents are ready, you can open your business account with wamo with an online application. Unlike traditional banks, opening an account with wamo is very fast and easy. You can open your account with an online application that takes only 10 minutes.

Traditional banks in Spain that provides business bank accounts

There are many traditional banks in Spain that offer business bank accounts for non-residents. Some of the largest and most well-known banks in Spain include:

Banco Santander: one of the largest banks in Spain, Banco Santander offers a range of business banking services, including business bank accounts, loans, and trade finance. Banco Sabadell: Banco Sabadell is a leading bank in Spain that offers a range of business banking services, including business bank accounts, loans, and trade finance. Banco Bilbao Vizcaya Argentaria (BBVA): BBVA is a multinational bank with a strong presence in Spain. It offers a range of business banking services, including business bank accounts, loans, and trade finance. CaixaBank: CaixaBank is a leading bank in Spain that offers a range of business banking services, including business bank accounts, loans, and trade finance. Banco Popular: Banco Popular is a Spanish bank that offers a range of business banking services, including business bank accounts, loans, and trade finance.

These are just a few examples of traditional banks in Spain that offer business bank accounts. There are many other banks in Spain that may also be suitable for your business needs.

Digital banking in Spain for opening a business account

In addition to traditional banks, there are also several digital banks in Spain that offer business bank accounts. Digital banks are banks that operate entirely online, without physical branches. Some examples of digital banks in Spain that offer business bank accounts include:

wamo: With wamo, you can open a business account in all European countries and Spain. The wamo account is designed according to the needs of businesses. Open your account without difficulty with an application that takes only 10 minutes. N26: N26 is a German digital bank that offers business bank accounts in 28 EU markets including Spain. Revolut: Revolut is a UK-based digital bank that offers business bank accounts in Spain and several other European countries. TransferWise: is a London-based financial technology company that offers business accounts in Spain and the rest of Europe. Monese: Monese is a British-Estonian digital bank that offers current accounts and money transfer services as an alternative to traditional banks.

Digital banks and alternative financial service providers may offer some advantages over traditional banks, such as lower fees, more convenient banking services and faster account opening processes. However, it is important to carefully research and compare different digital banks to find the one that is best for your business needs. Check out the wamo website to open an easy and convenient business account with wamo and to learn more about what wamo can do to help your business thrive.

Related: Can I open a business bank account in Spain for my company?

Wamo.Io LTD incorporated and registered in the United Kingdom under the company registration number 12352849 and the operational office of which is at WeWork, 199 Bishopgate, London EC2M 3TY. Wamo.Io LTD (Firm Reference Number 922901) is an EMD agent of PayrNet Ltd which is an Electronic Money Institution authorised by the FCA under the Electronic Money Regulations 2011 (EMR’s) with Firm Reference Number 900594.

Wamo Solutions Ltd is registered under the Laws of Malta with company registration number C97355 and registered office at Dragonara Business Centre, 5th Floor, Dragonara Road, St. Julians STJ 3141, Malta. Wamo Solutions Ltd is an EMD agent of UAB “PAYRNET” which is authorised by the Bank of Lithuania under the Law on Electronic Money and Electronic Money Institutions (authorization code LB001994, license reference 72).

The wamo card is issued pursuant to licence from Visa. UK issuance is conducted by PayrNet Ltd and EU issuance is conducted by UAB PayrNet. wamo operates the wamo.io website and the app. wamo is not a bank, the current account is an e-money account. Issuance of Electronic Money and payment services is provided by PayrNet Limited. The Financial Services Compensation Scheme does not cover electronic money products. No other compensation scheme exists to cover losses from your electronic money account. Your funds will be safeguarded in one or more segregated bank accounts with a regulated third party credit institution and not lent out, which gives you protection against insolvency, in accordance with the provisions of the Electronic Money Regulations 2011.

© wamo 2022, all rights reserved wamo & the wamo logo are trademarks and trade names of wamo technology Limited and may not be used or reproduced consent of the owner