Published: August 2025

Navigating the Spanish tax system can be challenging for expats, especially when facing a tax audit or inspection. Understanding your rights, obligations, and the process is key to avoiding stress and costly mistakes. Here’s a practical guide for foreigners in Spain on how to handle tax audits and what to expect if the Spanish tax authorities (Agencia Tributaria) come knocking.

Why you might be audited in Spain

Spanish tax authorities select cases for audit based on random checks, discrepancies in your tax return, high-value transactions, or information from other countries. Common triggers include unreported income, sudden changes in declared assets, or inconsistencies with bank data.

The audit process explained

• Notification: You’ll receive an official letter (“requerimiento”) by post or via your digital mailbox (Agencia Tributaria).
• Document request: You must provide supporting documents (bank statements, contracts, invoices, proof of residence, etc.) within the deadline stated.
• Meeting or inspection: Sometimes you’ll be invited for an interview or an inspector may visit your home or business.
• Resolution: The authorities will issue a decision—either closing the case or making an adjustment (which may include fines or back taxes).
• Appeal: You have the right to appeal decisions through administrative or legal channels.

Key tips for expats facing a tax audit

• Keep all tax-related documents for at least 4-5 years.
• Respond promptly and politely to any official requests.
• Use a registered tax advisor (find an advisor) if you’re unsure—many specialize in expat cases.
• Don’t ignore letters from Agencia Tributaria, even if you’re abroad.
• Be honest—deliberate fraud is punished severely in Spain.

Common documents you might need

• Bank statements and account summaries (Spanish and foreign)
• Employment contracts or freelance invoices
• Proof of residency (empadronamiento, rental contracts, utility bills)
• Declarations of overseas assets (Modelo 720)
• Receipts for deductible expenses

Useful links

• Agencia Tributaria (Spanish Tax Agency)
• Find a registered tax advisor
• Expatica: Spanish tax system explained

FAQ: Spanish tax audits and inspections

How will I know if I’m being audited? You’ll receive an official notification by post or digitally from Agencia Tributaria. Do I need to speak Spanish to handle an audit? It helps, but you can use a certified advisor or translator if needed. How long does a tax audit take? Most audits are resolved within a few months, but complex cases can take longer. What happens if I ignore the audit? Ignoring official requests can lead to fines, asset freezes, or legal action. Can I appeal a tax decision? Yes, you have the right to appeal administratively or through the courts. Are foreigners targeted more than locals? Not specifically, but expats with foreign income or assets may get extra scrutiny. What is Modelo 720? It’s a declaration of overseas assets, required for residents with more than €50,000 abroad. Do I need a lawyer for a tax audit? Not always, but complex cases or appeals benefit from professional help. What documents should I keep? All tax returns, bank statements, contracts, and proof of residency for at least 4-5 years. Can I get help in English? Many tax advisors in Spain speak English and are experienced with expat cases.

Disclaimer: This article is for informational purposes only. Always consult a professional for specific tax advice.

Published: August 2025

Opening a bank account is one of the first and most important steps for anyone moving to Spain. Whether you’re relocating for work, study, retirement, or as a digital nomad, having a Spanish bank account makes daily life much easier. In 2025, Spanish banks have introduced new rules and digital processes that affect both residents and non-residents. This comprehensive guide covers everything you need to know about opening a bank account in Spain as a foreigner, including the latest requirements, practical tips, and common pitfalls to avoid.

Why you need a spanish bank account

A local bank account is essential for:

• Receiving your salary or pension
• Paying rent and utility bills
• Setting up internet and mobile phone contracts
• Shopping online or in stores
• Transferring money internationally at lower fees
• Accessing local services and government benefits

Types of bank accounts in spain

• Resident Account: For those officially living in Spain with a registered address (empadronamiento). Offers full access to all banking services.
• Non-Resident Account: For foreigners who spend less than 183 days a year in Spain. Easier to open, but with some limitations (e.g., higher fees, limited credit options).
• Online/Digital Accounts: Many banks now offer 100% online accounts with lower fees, ideal for digital nomads and frequent travelers.

Key requirements in 2025

• Digital Identification: Most banks now require digital ID verification, either via video call or in-branch digital kiosks. Bring your passport, NIE (Foreigner Identification Number), and proof of address.
• Proof of Address: Recent utility bill, rental contract, or empadronamiento certificate.
• Proof of Income/Employment: Especially for non-resident accounts or if you want credit facilities. This can be a work contract, payslips, or bank statements.
• Tax Identification Number: Some banks will ask for your home country’s tax number for compliance.
• Initial Deposit: Some banks require a small deposit to activate the account (typically €50–€300).
• Enhanced Anti-Money Laundering Checks: Be prepared to answer questions about the source of your funds and the intended use of the account.

How to open a bank account: Step-by-step

1. Choose the right bank:
   • Major banks include Santander, BBVA, CaixaBank, Sabadell, and Bankinter. Many offer services in English and have international branches.
   • Compare fees, online banking options, and English-language support.
2. Gather your documents:
   • Passport (and visa if applicable)
   • NIE (if you have one)
   • Proof of address in Spain
   • Proof of income or employment (if required)
   • Tax identification number from your home country
3. Apply online or in person:
   • Many banks now allow you to start the process online. You may need to visit a branch to complete ID verification.
   • If you’re not fluent in Spanish, ask for an English-speaking advisor or bring a friend/translator.
4. Complete digital verification:
   • Follow the bank’s instructions for video verification or digital signature.
   • Upload or present your documents as requested.
5. Activate your account:
   • Once approved, you’ll receive your account details and debit card. Set up online banking and download the bank’s app for easy access.

Common pitfalls and how to avoid them

• Not having all documents ready – double-check requirements before your appointment.
• Language barriers – use banks with English-speaking staff or digital onboarding in English.
• Choosing an account with high fees – always read the fee schedule and ask about hidden charges.
• Not updating your address or residency status if you move within Spain.
• Assuming you can use your home country’s debit/credit card for everything – many services require a Spanish IBAN.

Tips for expats and digital nomads

• Consider online banks (Revolut, N26, Wise) for easy setup and low fees, especially if you travel often.
• Open your account as soon as possible after arriving – you’ll need it for most contracts and official paperwork.
• Keep digital copies of all documents and correspondence with your bank.
• Ask about multi-currency accounts if you receive income in other currencies.
• Be patient – Spanish bureaucracy can be slow, but digital processes are improving.

Useful resources

• BBVA Spain
• Santander Spain
• New in Spain – Guides and Updates
• Expatica: Opening a Bank Account in Spain

FAQ

Can I open a Spanish bank account before moving to Spain?
Some online banks and international branches allow you to start the process from abroad, but most traditional banks require proof of address in Spain.

Is it possible to open a bank account without a NIE?
Some banks offer non-resident accounts without a NIE, but you’ll need one for full resident accounts and most official paperwork.

What fees should I expect?
Monthly account fees range from €0–€15, depending on the bank and account type.
Always check for hidden charges.

Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice. Always confirm requirements with your chosen bank.

In 2024, Spanish banks are recommending a range of investment options, focusing on strategies that cater to both individual and corporate clients amidst an economic
environment marked by high interest rates and controlled risk levels.

Here are some key investment avenues that Spanish banks are encouraging their customers to consider:

Sustainable Investments:
Sustainability is a major theme, with banks like BBVA and CaixaBank emphasizing investment in environmentally and socially responsible portfolios.
This includes green bonds, sustainable funds, and companies with strong environmental, social, and governance (ESG) practices.
These products align with global trends towards responsible investing, especially as more clients look for ethical ways to grow their wealth​
(BBVA CIB)​(CaixaBank).

Real Estate:
Real estate continues to be a popular investment option in Spain, particularly for those looking for long-term appreciation or rental income.
Spain’s property market remains attractive to both local and foreign investors, especially in high-demand areas like Madrid, Barcelona, and coastal regions.
Some banks also offer specialized mortgage products to assist with real estate purchases​
(SpainHow).

Time Deposits:
With rising interest rates, many customers are turning to time deposits (fixed-term savings accounts) for stable returns.
Banks have accelerated the pass-through of higher interest rates to time deposits, making them an attractive option for risk-averse investors looking for secure, short-term gains​
(Scope Group).

Managed Portfolios and Digital Investment Platforms:
CaixaBank’s “Smart Money” service offers customers personalized, digital investment management.
These managed portfolios allow investors to diversify their holdings across various markets while adjusting for personal risk tolerance.
This service is growing in popularity due to its simplicity and the ability to tailor investments to individual financial goals​
(CaixaBank).

Emerging Markets:
Despite global economic uncertainty, Spanish banks like BBVA and Santander recommend considering emerging market investments, particularly in regions with rising consumer loan portfolios. These markets, while riskier, offer higher growth potential compared to more mature economies
​(Scope Ratings)​(Scope Group).

In summary, Spanish banks in 2024 are focusing on sustainable investments, real estate, and digital-managed portfolios, while also highlighting the importance of time deposits
due to higher interest rates. These strategies provide a balanced approach to growth and risk management in a fluctuating economic landscape.