21/12/2020 | Real estate purchase and sale in Spain
Opening a bank account in Spain
If you decide to buy real estate in Spain, you will need a bank account with a Spanish bank. It is not complicated, you just need to have the necessary documents: your ID and income statements in your country’s English or Spanis, it,s very important. A bank account is required to transfer money from your country to your Spanish account. In some cases, the bank may ask you to prove the origin of the money. This is a normal procedure. Foreigners are usually offered a non-resident bank account and cost around € 30 for three months. With the necessary documents, the bank account is opened within one day. After signing the purchase agreement, a bank account is required to automatically deduct water, electricity, and internet charges when you are not in Spain. You can control all of this with online banking.