Banking in Spain 2025: Your Practical Guide for International Clients

Spain’s Top Banks by Assets (2024–25)

These top five, often called “los cinco grandes,” dominate Spain’s banking market in scale and infrastructure.

Benefits of Company Registration in Spain

Starting a Business in Spain offers unique opportunities for growth and expansion, making it a top choice for entrepreneurs worldwide. Understanding the local market dynamics will greatly benefit your Business in Spain.

Registering a company in Spain provides legal recognition, enabling you to enter into contracts, open business bank accounts, and invoice in the company’s name. It limits your liability, particularly via a Sociedad Limitada (SL) with minimum capital of €3,000—while offering tax advantages, such as a standard corporate tax of 25 % and potentially reduced initial rates of 15 % for new companies,

Setting up a Business in Spain can also provide valuable networking opportunities, which are crucial for success in this vibrant market.

Understanding the various options for structuring your Business in Spain is essential for compliance and operational efficiency.

Additionally Spain actively supports entrepreneurship via tax breaks for startups, stock option incentives for employees, and access to grants or reduced collateral for innovative projects 

 Banking Tiers by Type

Major Retail Banks (Nationwide)

• Santander — global presence, very large branch network and online reach
• BBVA — strong digital platform and Latin American exposure
• CaixaBank — extensive service network, multilingual support
• Sabadell — well regarded for SME services
• Bankinter — known for digital innovation, acquired EVO Banco in 2025

Regional Savings Banks / Cooperatives

• Unicaja, Abanca, Kutxabank, Cajamar, Ibercaja — strong client bases in particular provinces; good for region‑specific property owners

Digital and Challenger Banks (Popular with Expats)

• Openbank (owned by Santander), EVO Banco (now merged into Bankinter), ING España
• N26 (German‑licensed, Spanish IBAN), Revolute, Wise — not Spanish banks but widely used for euro accounts, global transfers, and low fees.

Private / Wealth Banking

• Banca March, CaixaBank Wealth, Andbank (Andorra) — serve high‑net‑worth clients with wealth planning and international services

Opening Accounts as a Foreigner (Personal or Business)

What Non‑Residents Need to Open a Personal Account

Common requirements across Santander, BBVA, Sabadell, Bankinter and others:

• Valid passport
• NIE, or sometimes a Non‑Resident Certificate (Certificado de no residencia) as evidence of tax status.
• Proof of address (home country utility bill or bank statement)
• Additional proof of income or funds in some cases (retirement income, pension, etc) Moving To SpainThe Local Spain+1Moving To Spain+1

Many branches (especially Sabadell and Santander) allow opening an account with passport + non‑resident certificate — no NIE required upfront, though policies vary by branch.

Online banks like Santander’s “Cuenta Online con Pasaporte” may provide fully remote onboarding for specific countries including Canada, subject to security checks and branch requirements Banco Santander.

Documents for a Company Account in Spain

For non‑resident company owners:

• Certificate of incorporation
• Tax identification (EU VAT if applicable)
• ID of directors and beneficial owners
• Activity description, proof of address
• Compliance questionnaires (source of funds, beneficial ownership)
• In many cases, appointment notarisation and legalization of documents is required

Banks like Santander, CaixaBank, BBVA and Sabadell all offer business accounts for companies registered in Spain, and some offer English‑speaker support.

Best Bank Choices for Non‑Spanish Europeans and North Americans

Best for Personal Non‑Resident Accounts

• Banco Santander — “Cuenta Online con Pasaporte” lets Canadian and US citizens open remotely (from eligible countries) a fee‑free account, free debit card, SEPA transfers, even credit card application online.
• Banco Sabadell — Key Account available by passport only at branch, with English‑friendly staff and low fees for expats The Local Spain+1Banco Sabadell+1.
• CaixaBank HolaBank — a simple non‑resident account that provides debit and credit card with minimal requirements.

For digital use:

• N26 — excellent option if you just need euro account, IBAN, low fees, and remote onboarding. Not a Spanish bank but widely accepted in Spain.

Best for Mortgages and Lending

• Santander, BBVA, CaixaBank, Sabadell, and Bankinter all issue mortgage loans to non‑residents. Expat-friendly, good English documentation, and large broker networks.
• Bankinter is appreciated for flexibility and digital ease thanks to its EVO integration and few language barriers.

Best for Company Accounts

• BBVA and CaixaBank lead in business banking for SMEs and international trade.
• Santander supports English account managers for foreign‑owned companies.
• Sabadell also caters to foreign investors, especially in real estate holding companies.

Final Recommendations

Additional Tips

Spanish banking is regulated by Banco de España and supervised by the European Central Bank.

Deposits are protected up to €100,000 per depositor through the Deposit Guarantee Fund

Fee structures can vary by branch; seek out expat‑friendly branches for English speaking support.

Online banks may require you be physically present in Spain for final identity verification, even if onboarding is remote

How Nova Vista Holdings Supports Your Banking Needs

At Nova Vista Holdings, our professional team helps Canadian, US and European clients set up the right banking solutions in Spain:

• We guide you through anti‑money laundering compliance, online banking registration and ongoing account operation.

• We coordinate personal and company account openings with Santander, Sabadell, CaixaBank or Bankinter or digital options like N26.

• We assist with documentation: NIE / non‑resident certification, translations, proof of funds.

• We organise bank introductions, pre‑book branch appointments where needed, and ensure English support.

• We integrate banking setup into your property purchase, mortgage application, business incorporation or relocation process.

• We advise on best models: combining a low‑fee digital account (like N26 or Revoluta) for everyday use and a major bank account for legal transactions, mortgages and company needs.