Opening a Business Bank Account in Spain | Bon
A Spanish company needs a local business bank account before it can be registered. The share capital has to be deposited and the bank issues a certificate confirming this, which is one of the documents the notary needs to sign the incorporation deed. So for most clients, the bank account is not an optional extra, it is a required step in setting up the company itself.
What the bank generally asks for when opening a company account:
- NIE (foreigner identification number) for each director or shareholder
- The company name reservation certificate from the Commercial Registry
- Passport copies and proof of address for the beneficial owners
- A short description of the planned business activity
- In some cases, proof of the source of the funds being deposited
If you are not a Spanish resident, some banks require you to appear in person for the first appointment, while others accept a properly legalised power of attorney so the account can be opened without travelling. Which option is available depends on the bank and on whether you already hold a residence permit or are applying for one. Non-resident accounts also tend to face closer compliance review, so having the source-of-funds documentation ready from the start avoids delays at the appointment stage.
We help clients choose a bank that fits their situation, prepare the documents in advance so the appointment goes smoothly, and stay involved after the account is open in case the bank asks for additional compliance paperwork, which is common for non-resident owners. Once the account is running, our accounting and bookkeeping service can take over the day-to-day financial management.
Frequently asked questions
Can I open a Spanish business bank account without visiting Spain?
Some banks accept a properly legalised power of attorney for non-resident applicants, while others require an in-person first appointment. We confirm which option is available before you choose a bank.
What is the bank account needed for during company registration?
The bank issues a certificate confirming the share capital deposit, and the notary needs that certificate to sign the incorporation deed, so the account has to be opened before the company can be formally registered.
Do non-resident business accounts face extra checks?
Yes, non-resident owners typically face closer compliance and source-of-funds review than resident account holders, which is why preparing that documentation in advance speeds up the account opening.
Money-back guarantee
Long-term experience accumulated our experts are fully responsible for their quality of work and results. Good relationship with the Department of Immigration, Tax Inspectorate, the Social Insurance Inspectorate, Centre of Registers and other state and non-state institutions helps to ensure the highest quality services.
We do not operate in automatic machine principle and look deeper into the needs of each client. Whether it is business acquisitions, advice on migration, finance, accounting, or other issues - this is a unique process.
Only in this way we can ensure the highest quality services. Therefore, we provide our clients 100% money back guarantee if due to our fault you do not receive a temporary residence permit. We also guarantee that the company You will purchase has no debts or other liabilities. Our accounting services are insured, so if fees are wrong calculated, we or our insurance company will cover all losses.
RESIDENCE PERMIT
Process time for a temporary residence permit for each country depends on that country's laws. Usually it takes 2-6 months. If you have additional questions, the Migration Department may extend length of the proceeding up to 3 months. The answer may be a negative if the client:
- Was deported;
- Punished for crime;
- Has records in the police department;
- Other negative entries of personal biography;
- The information about the client is false, untrue;
- Going to false immigration.
If it turns out that the negative response to the temporary residence permit is due to one of these reasons, we will not return your money.
If the client has a clean biography and correct data about him/her, but due to our fault do not receive a temporary residence permit, in this case within 30 days we will return 100% of his/her money and will not ask for any compensation concerning experienced costs.
Business acquisitions and start-up
All of our sales companies do not have any debts or obligations. If you buy a new company (without any history), the company has absolutely no bookkeeping records. If you are going to buy an existing company with a history of activity, in this case you will provide the company financial reports and you will be able to assess the Company's status. If after the acquisition of the company, there would be unforeseen events and it would be our fault, we will take all the responsibility on ourselves.
Accountancy services and consultations
We take full responsibility for the provision of accounting services. Our accountants have many years of experience, good skills in preparing various reports to the state institutions; also we provide representation during an inspection. We look very responsibly to our work that is why we insured our employees from the possible errors, so if fees are calculated wrongly, we or the insurance company will compensate them.
