Opening a Bank Account for Autonomo (Self-Employed) in Spain

Spanish law does not require autonomos (self-employed individuals) to open a separate business account — they may use a personal account. However, experts strongly recommend separating personal and business finances.

This makes accounting easier and financial management more transparent. Social security contributions are automatically debited from the autonomo’s account. It’s also convenient to use this account for paying taxes, handling supplier payments, and receiving client payments. During audits, fewer questions arise when no personal transactions are mixed in with business operations.

Another advantage: if business issues lead to account restrictions, your personal funds will remain accessible.

We recommend opting for a Spanish bank rather than a foreign branch, as the latter may cause transaction delays or complications.

When choosing a bank, make sure it offers account types suitable for your business, supports all necessary currencies, has clear and competitive conditions, maintains a strong reputation Tax & Development Consulting Group will provide you with a list of trusted financial institutions that work well with autonomos.

No matter which bank you choose, it’s essential to prove the legitimacy of your financial activities. Suspicious or unrelated transactions may trigger investigations and sanctions. For example, if you declare your activity as domestic services but engage in real estate transactions, you’ll need to justify such actions and provide supporting documents. All financial operations must align with the declared business activities.

The minimum processing time is one week, but it can take up to a month depending on the bank and season.

Applications go through several departments, and additional documents may be requested. We provide estimated timelines for our clients in advance and work to overcome bureaucratic delays.

Main required documents:

• Passport or national ID (must be valid at the time of application)
• NIE (Foreigner Identification Number)
• Work permit (depends on your type of residency)
• Proof of residence in Spain (e.g., current rental contract, recent utility bills, or tax documents showing your address)

Possible additional documents bank statements, tax returns.

Request a consultation to get a tailored document checklist based on your specific situation.

To increase your chances of success choose a bank that is friendly to foreign clients and your industry, study account conditions and fees for businesses to avoid hidden charges, read customer reviews and check bank ratings.

Our specialists will guide you through all of these steps.