Open a Business Bank Account in Spain as a Non‑Resident

Spain is one of the EU’s largest economies and a major European financial hub, with strong banking centres in Madrid and Barcelona. It offers direct access to the eurozone, SEPA payments, and a highly regulated banking system overseen by the Banco de España. A Spanish business account allows companies to operate efficiently in EUR, trade across the EU, and work seamlessly with European payment platforms.

Opening a business bank account in Spain can be challenging, particularly for non‑resident founders, overseas shareholders, or companies without local substance. Many Spanish banks apply strict AML and compliance rules, and are especially cautious when onboarding businesses in sectors such as crypto, fintech, e‑commerce, or cross‑border services.

Without the right banking partner, founders often lose weeks, or months, navigating multiple applications, repeated document requests, and avoidable rejections. Choosing a Spanish bank or EMI that aligns with your business model, risk profile, and residency status is essential to saving time, protecting credibility, and getting operational faster in Spain.

This guide breaks down everything you need to know about opening a business bank account in Spain, whether you are based in Madrid, Barcelona, Valencia, or operating remotely as a non‑resident founder. It compares Spanish banks and EMIs, explains costs and timelines, and shows how Binderr Marketplace helps businesses get approved faster using one unified KYC.

Top 3 Providers for Business Banking in Spain

Can a Non‑Resident Open a Business Bank Account in Spain?

Yes, non‑resident founders can open a business bank account in Spain, but approval is highly dependent on the company structure, ownership profile, and underlying business activity. While Spanish law does not prohibit non‑residents from opening a Spanish business account, most traditional banks apply stricter internal policies for companies owned or managed from abroad.

EU‑resident founders generally face fewer barriers, especially if the company has economic substance in Spain or another EU country. Non‑EU founders, however, are subject to enhanced due diligence (EDD), including deeper source‑of‑funds checks, detailed business plans, and additional compliance reviews under Spanish and EU AML regulations.

In practice, opening a business bank account in Spain as a non‑resident often requires either local ties (such as Spanish clients, employees, or a registered office) or a well‑documented cross‑border business model. Companies based in Madrid, Barcelona, or Valencia with clear EU trading activity typically see higher approval rates than fully offshore structures.

For many international founders, especially those running digital, SaaS, e‑commerce, or high‑risk businesses, international EMIs are a more realistic starting point. EMIs offering Spanish or EU IBANs tend to support remote onboarding, work with non‑resident directors, and provide faster access to a compliant Spanish business account compared to traditional banks.

Documents Required to Open a Business Bank Account in Spain

Opening a Spanish business account requires both company and personal documentation, and the review process is heavily compliance‑driven. Spanish banks are known for detailed KYC and AML checks, often requesting notarised and, in some cases, apostilled documents, particularly when opening a business bank account in Spain as a non‑resident.

For overseas founders, banks may also require certified translations into Spanish and additional supporting evidence to validate the business model, source of funds, and ownership structure. Being properly prepared with complete, well‑organised documentation significantly improves approval chances and reduces delays when opening a business bank account in Spain.

Personal Documents

• Passport and proof of address
• NIE (Número de Identidad de Extranjero), if applicable
• CV or professional background of directors/UBOs

Company Documents

• Certificate of incorporation
• Articles of association (estatutos sociales)
• Registro Mercantil extract
• Shareholder and UBO structure
• Business plan and source‑of‑funds explanation

Types Business Banking Options in Spain

Spain offers both traditional banks and international EMIs. Choosing the right option depends on residency, business model, and urgency.

International EMIs – Easiest and Fastest

For many non‑resident founders, international EMIs are the most practical way to open a business bank account in Spain quickly. Unlike traditional Spanish banks, EMIs are designed for cross‑border businesses and digital-first operations. They typically offer faster onboarding timelines (around 5–15 business days), remote account opening, and clearer acceptance criteria for companies with international ownership or operations.

EMIs are particularly well suited for founders without Spanish residency, companies registered outside Spain, and businesses operating in higher‑risk or fast‑moving sectors such as SaaS, e‑commerce, fintech, and international consulting. While EMIs are not banks, they are fully regulated financial institutions within the EU and provide compliant EUR IBAN accounts, SEPA payments, and multi‑currency capabilities that meet most operational needs of a Spanish business account.

Equals Money

Equals Money is a popular EMI for international companies that need multi‑currency accounts and efficient cross‑border payments. It is well suited for businesses trading across Europe and beyond, offering EUR IBANs, local payment rails, and competitive FX rates. Equals Money is often used as an alternative to a traditional Spanish business bank account for globally active companies.

3S Money

3S Money specialises in providing dedicated IBAN accounts for complex ownership structures and internationally owned companies. It is frequently used by non‑resident founders who struggle to open a business bank account in Spain with local banks due to shareholder complexity or limited local substance.

Fyorin

Fyorin is designed for businesses with high volumes of international payments and FX exposure. It offers multi‑currency accounts, transparent pricing, and fast onboarding, making it suitable for export‑import businesses, digital services, and companies operating across multiple jurisdictions while needing a reliable Spanish or EU business account setup.

MoneyBase

MoneyBase is an EU‑regulated digital banking alternative that provides EUR accounts, SEPA access, and online account management. It appeals to startups and SMEs looking for a straightforward, regulated option to support operations in Spain without the delays associated with traditional banks.

Bankera

Bankera is a fintech‑friendly EMI offering EUR IBAN accounts, SEPA payments, and integration with digital platforms. It is often considered by technology‑driven companies and founders looking to open a Spanish business account with more flexibility around onboarding and ongoing account usage.

iBanFirst

iBanFirst is an FX‑optimised EMI focused on companies with significant international currency needs. It is commonly used by growing businesses that require efficient EUR payments, strong FX execution, and account structures that support expansion across Spain and other EU markets.

Traditional Banks in Spain – Slower and Selective

Traditional Spanish banks remain the preferred option for companies with strong local substance, low-risk activities, and long-term plans in Spain. Opening a business bank account in Spain with a traditional bank typically offers higher credibility with local suppliers, Spanish tax authorities, and institutional partners. However, this comes at the cost of stricter onboarding requirements and longer approval timelines.

Most Spanish banks require a clear economic link to Spain, such as a registered office, local directors, Spanish clients, or employees. Onboarding timelines usually range from 3–8 weeks for straightforward cases and can extend significantly for non-resident founders, non-EU shareholders, or complex ownership structures. High-risk business models are often declined outright by traditional banks.

Despite these challenges, Spanish business accounts with local banks remain attractive for companies operating physically in Spain, particularly in cities such as Madrid, Barcelona, and Valencia, where branch access and local relationship management can be valuable.

Santander Empresas

Santander Empresas is one of the most widely used options for opening a business bank account in Spain. It offers comprehensive corporate banking services, including EUR accounts, SEPA payments, financing solutions, and strong international reach. Santander typically favours Spanish-registered companies with local directors or operations and applies enhanced scrutiny to non-resident founders.

BBVA Empresas

BBVA Empresas is known for its strong digital banking platform combined with traditional branch support. It is a common choice for SMEs and operating companies in Spain that require day-to-day transactional banking, payroll support, and integration with Spanish tax and accounting systems. Non-resident founders may face longer onboarding timelines and additional documentation requirements.

CaixaBank Business

CaixaBank Business has a strong domestic presence and is particularly popular with companies operating locally in Spain. It offers robust business banking features, including merchant services and local payment integrations. CaixaBank generally prioritises businesses with clear Spanish substance and may require in-person meetings during the onboarding process.

Banco Sabadell Empresas

Banco Sabadell is often considered by small and mid-sized businesses opening a Spanish business account, especially those involved in trade, manufacturing, or professional services. It has experience working with foreign-owned Spanish companies but typically requires a strong business case and local operational presence.

Bankinter Empresas

Bankinter Empresas focuses on SMEs and growing companies in Spain, offering tailored business banking solutions and relationship-led service. It can be a viable option for companies with Spanish management or investors, though non-resident founders should expect detailed compliance checks and longer processing times.

Unicaja Banco Empresas

Unicaja Banco serves regional and locally focused businesses across Spain. It may be suitable for companies with operations outside major metropolitan areas but generally has limited appetite for non-resident or internationally structured businesses.

Overall, while traditional banks provide the most established form of a Spanish business bank account, they are best suited for low-risk companies with genuine ties to Spain and the patience to navigate a slower, more selective onboarding process.

How Much Does It Cost to Open a Business Bank Account in Spain?

The cost of opening a business bank account in Spain varies significantly depending on whether you choose a traditional Spanish bank or an international EMI, as well as your company’s risk profile and ownership structure. Traditional banks in Spain often require higher minimum balances, ongoing maintenance fees, and may charge additional costs for in-branch services, compliance reviews, or non-resident onboarding.

In contrast, EMIs generally offer a lower-cost and more transparent pricing model when opening a Spanish business account, with reduced or zero minimum balance requirements and clearer monthly fees. However, businesses in higher-risk sectors or with complex ownership should also budget for enhanced due diligence costs, which can apply regardless of whether you open a business bank account in Spain through a bank or an EMI.

How Long Does It Take to Open a Business Bank Account in Spain?

The time required to open a business bank account in Spain depends largely on the type of provider you choose, your residency status, and the risk profile of your company. Traditional Spanish banks tend to follow conservative onboarding processes, while international EMIs offer significantly faster timelines for opening a Spanish business account, especially for non-resident founders.

In general, companies with simple structures, local substance, and low-risk activities will see faster approvals, whereas non-resident founders, high-risk business models, and complex ownership structures should expect longer processing times due to enhanced due diligence and compliance reviews.

• Low-risk Spanish company: 3–6 weeks – Typically applies to Spanish-registered companies with local directors, employees, or clear operational presence in Spain.
• Non-resident founders: 6–10+ weeks – Opening a business bank account in Spain as a non-resident usually involves additional AML checks, source-of-funds verification, and internal compliance approvals.
• High-risk businesses: 8–12+ weeks – Sectors such as crypto, fintech, marketplaces, and cross-border services face deeper scrutiny when applying for a Spanish business account with traditional banks.
• Complex ownership structures: 10–16 weeks – Multi-layered shareholding, foreign holding companies, or multiple UBOs can significantly extend timelines when opening a business bank account in Spain.
• EMI alternative: 5–15 business days – International EMIs are the fastest option for opening a compliant Spanish or EU business account, offering remote onboarding and quicker access to EUR IBANs.

How to Open a Business Bank Account in Spain

Opening a business bank account in Spain is a structured process that requires preparation, clarity, and choosing the right banking partner from the outset. Whether you are a resident or non‑resident founder, following these steps carefully will significantly improve approval chances and reduce delays when opening a Spanish business account.

Step 1: Assess Your Business Risk Profile

Before applying to any bank or EMI, it is essential to clearly assess your business risk profile. When opening a business bank account in Spain, providers evaluate several core factors that determine approval likelihood and onboarding speed:

Key factors Spanish banks and EMIs assess include:

• Industry and business activity (low-risk vs high-risk sectors)
• Expected transaction volumes and payment flows
• Customer and supplier geography (Spain, EU, or global)
• Ownership structure and UBO transparency
• Residency status of directors and shareholders

Low-risk businesses, such as local service companies, consultancies, or EU-focused trading companies with Spanish substance, generally find it easier to open a Spanish business account. In contrast, non-resident founders, cross-border operations, online platforms, and industries such as crypto, fintech, marketplaces, or gaming are categorised as higher risk and face deeper scrutiny.

At this stage, founders should realistically assess whether a traditional Spanish bank or an international EMI is the better fit. Understanding your true risk profile early helps avoid unnecessary rejections and wasted applications when opening a business bank account in Spain.

Step 2: Choose the Right Bank or EMI in Spain

Choosing the right provider is one of the most critical decisions when opening a business bank account in Spain. Not all Spanish banks or EMIs serve the same business profiles, and applying to the wrong provider often results in delays or outright rejection.

Traditional Spanish banks are best suited for:

• Companies with a registered office and real operations in Spain
• Spanish or EU-resident directors and shareholders
• Low-risk industries with predictable cash flows
• Long-term operating businesses requiring local credibility

International EMIs are often a better option for:

• Non-resident founders and overseas shareholders
• Companies registered outside Spain
• Digital, SaaS, e-commerce, and cross-border businesses
• Founders seeking faster onboarding and remote setup

Matching your business profile to the right provider significantly increases success rates when opening a Spanish business account.

Step 3: Prepare Compliant Documentation

Preparing compliant documentation is one of the most important and time-sensitive stages of opening a business bank account in Spain. Banks and EMIs conduct detailed reviews to ensure full AML and regulatory compliance.

Documentation is typically reviewed across three areas:

• Corporate documents (incorporation, articles, registry extracts)
• Ownership and UBO structure (shareholding charts, control)
• Source of funds and business activity explanations

Founders should ensure all documents are accurate, up to date, and internally consistent. For non-resident founders, Spanish banks may also require notarised, apostilled, and translated documents. Missing, unclear, or contradictory information is one of the most common reasons applications to open a Spanish business account are delayed or rejected.

Step 4: Complete KYC and Onboarding

Once documentation is submitted, the provider will initiate formal KYC and onboarding checks. This stage is especially critical when opening a business bank account in Spain as a non-resident or for higher-risk business models.

KYC and onboarding may include:

• Compliance questionnaires about business activity
• Interviews or calls with the bank or EMI compliance team
• Follow-up questions on transaction flows and counterparties
• Enhanced due diligence for non-EU or high-risk cases

Prompt, clear, and consistent responses during this phase significantly improve approval chances and help keep Spanish business account timelines on track.

Step 5: Receive Your IBAN and Activate the Account

After successful approval, you will receive your EUR IBAN and gain access to your Spanish business account or EU business account through an EMI.

Once the account is live, founders can:

• Activate online and mobile banking access
• Set user roles, permissions, and transaction limits
• Connect accounting software and payment gateways
• Start invoicing clients and paying suppliers in EUR

This final step allows the business to operate fully within Spain or across the EU, marking the successful completion of opening a business bank account in Spain.

How to Improve Approval Chances in Spain

Improving your approval chances when opening a business bank account in Spain comes down to preparation, positioning, and choosing the right path from the start. Spanish banks and EMIs are highly risk‑aware, and small mistakes can quickly lead to delays or rejections, especially for non‑resident founders.

Present a clear and simple business model

Spanish banks prefer transparency over complexity. Clearly explain what your company does, how it makes money, who your customers are, and where transactions will originate. When opening a Spanish business account, overly complex structures or vague descriptions often trigger additional compliance reviews.

Prepare strong source‑of‑funds documentation

One of the most critical approval factors when opening a business bank account in Spain is demonstrating legitimate source of funds and source of wealth. Be ready to show how initial capital was generated, how revenues will flow through the account, and how funds relate directly to your business activity.

Avoid applying blindly to multiple banks

Submitting multiple uncoordinated applications to Spanish banks can harm your approval chances. Banks often record rejected applications internally, and repeated declines can raise red flags. A targeted approach, matching your profile to the right bank or EMI is far more effective.

Use EMIs for faster initial access

For non‑resident founders or higher‑risk business models, starting with an international EMI is often the fastest way to secure a compliant Spanish or EU business account. EMIs offer quicker onboarding, remote setup, and clearer acceptance criteria, allowing businesses to operate while building transaction history.

Work with a pre‑screened banking network

Working with a pre‑screened network of banks and EMIs significantly improves success rates when opening a business bank account in Spain. Platforms like Binderr Marketplace help founders avoid unsuitable providers, reduce rejections, and apply strategically using one unified KYC process.

What Is Binderr Marketplace

Binderr Marketplace is a business banking comparison and matching platform designed to simplify opening a business bank account in Spain and across Europe. Instead of applying blindly to individual banks or EMIs, founders can access a pre‑screened network of regulated providers that actively support non‑resident founders, international ownership structures, and complex business models.

With Binderr Marketplace, businesses complete one unified KYC and use it to apply to multiple banks and EMIs that match their specific risk profile. Founders can compare Spanish business account options based on onboarding speed, approval likelihood, monthly fees, minimum balance requirements, and remote onboarding availability before submitting an application.

This approach significantly improves approval success when opening a business bank account in Spain by eliminating unsuitable providers, reducing compliance friction, and keeping the entire process transparent. For non‑resident founders, startups, and high‑risk businesses, Binderr Marketplace removes the guesswork from choosing the right Spanish bank or EMI.

Bottom Line

Opening a business bank account in Spain is entirely achievable for non‑resident founders, but only with the right strategy, preparation, and banking partner. Spain offers strong EU credibility, access to EUR and SEPA payments, and a regulated financial system, but its banks are selective and compliance‑driven.

By comparing Spanish banks and international EMIs and using Binderr Marketplace, founders avoid unnecessary rejections, reduce onboarding time, and secure a compliant Spanish business account that fits their business model. Whether you need fast access through an EMI or long‑term banking with a traditional Spanish bank, choosing the right option from the start makes all the difference.

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FAQs: Business Banking in Spain