Technically, you can buy a property in Spain without a Spanish bank account. In practice, doing without one complicates almost everything. Here is why we recommend opening one early in the project.
On completion day
The balance of the price is most often paid by banker's draft (cheque bancario) issued by a Spanish bank, or by secure bank transfer via the notaries' platform. Either way, a local account makes the transaction far simpler and reassures the seller that the funds are available.
After the purchase
Water, electricity, gas, service charges, council tax (IBI): everything is paid by direct debit, and Spanish suppliers generally require a Spanish IBAN, or at least strongly prefer one. A local account saves you from rejected direct debits and absurd cut-offs while you are away.
How to open one as a non-resident
- Usual documents: passport or identity card, NIE, proof of income (payslips, tax assessment), sometimes a non-residence certificate.
- Several banks on the Costa Brava have French-speaking advisers used to dealing with French buyers: we can put you in touch.
- Watch out for account fees for non-residents and the conditions for avoiding them.
Open the account during the search phase: on the day your offer is accepted, the whole financial set-up is already in place.
