How to open a current account in Spain if you are a foreigner?

Movements from one country to another are becoming more and more common, and the increased opportunities provided by the digital environment have made them even more so. A lot of foreign people visit Spain in order to get to know it at a tourist level or even to stay to work or to carry out some activity. if you want to open a current account in Spain and you are a foreigner you have to take into account the considerations that we are going to indicate you.

When a foreign family arrives in Spain seeks to have the same opportunities as the Spaniards themselves. Therefore, if what you are looking for right now is to know how to open your new current account and the chosen destination is Spain, we bring you detailed information on each of the procedures you must follow to successfully achieve your purpose.

What do you need if you want to open a current account in Spain if you are a foreigner?

To open a current account in Spain if you are a foreigner you need to meet certain requirements depending on the situation you have.

If you're a natural person:

Usually to open an account in Spain there can be two situations:

• That you are a resident alien, in which case you have a residence permit. In this case the normal thing is that they ask for your passport and NIE and the documentation requested by the bank in which you are going to open the account.
• That you're a non-resident alien. If you are a non-resident foreigner, you must present your passport or the document that accredits your identity in your country of origin, in addition to the negative certificate of residence that the Ministry of the Interior or the DRF3 has given you.

The main documentation you will have to provide depends a lot on the bank where you open the account but some common documents are as follows:

• Declaration of economic activityThis document will justify the activity for which you receive money, in order to provide the origin of the funds.
  • If you are a dependent worker, i.e. you work for a company or another person, you must submit the following list of documents:
    • Documents no more than 3 months old:
      • Receipt of one of the last three payslips.
      • Benefits in case of unemployment, receiving a pension or being a subsidized person.
      • Certificate of employment relationship issued by the employer.
    • Documents no more than one year old:
      • Current employment contract.
      • IRPF Statement (model 100)
      • IRNR Statement (Model 210)

• If otherwise you are a self-employed personWhether you are a merchant, freelancer, or similar, the requirements are as follows:
  • Documents no more than 3 months old:
    • Income tax withholdings (model 111)
    • IRPF Installment Payments (Models 130 and 131)
    • Quarterly VAT returns (model 303)
    • Social security receipt from the general scheme for self-employed persons.
    • Certificate of census status issued by the AEAT
  • Documents no more than one year old:
    • Income tax return (model 100) Income tax withholdings (model 190)
    • Last professional association receipt (there are quarterly and annual fees).
    • Annual VAT returns (model 390).
    • Annual Statement of Operations (Form 347).
    • High Activity / High Recognition issued by the TGSS.

If you are a Legal Entity:

If you are a legal entity, represent a company or have a personal company, you must present the following identification documents:

• Deeds of constitution and document of inscription in the Mercantile Registry.
• Power of attorney deeds.
• Documents identifying the representatives of the company.
• Declaration of economic activity:
  • Documents no more than 3 months old:
    • Quarterly VAT return (model 303)
    • Certificate of census status issued by the AEAT
    • Declaration to the Census of Taxpayers (Model 036) indicating registration in the Census of Entrepreneurs, Professionals and Withholders.
  • Documents no more than one year old:
    • Corporate income tax (model 200) Annual accounts filed with the Mercantile Registry (balance sheet and operating account)
    • Activity report Annual VAT return (model 390)
    • Annual Statement of Operations (Form 347)

As you can see, opening a bank account in Spain is possible and you must take into account the documentation to be provided depending on the bank and your particular situation. You have to keep in mind that it is possible that in some entities the conditions offered to you may be different from those offered to residents or that they have certain limitations.

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