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We are selling our UK home to fund a property purchase in Spain , we were wondering if we should open a Spanish bank account or use something like the HSBC off shore account to deposit the money from sale? Also can we open Spanish account online ?? Some sites say we can others say not !!
RobertWJ64 wrote on Fri Apr 28, 2023 8:25pm:
We are selling our UK home to fund a property purchase in Spain , we were wondering if we should open a Spanish bank account or use something like the HSBC off shore account to deposit the money from sale? Also can we open Spanish account online ?? Some sites say we can others say not !!
Unless anything has changed recently you need to be present at the bank of your choice to open an account. There will be several pages of paperwork to sign etc.
Steve
I did read somewhere that you can open a Spanish account in UK. I can't remember which bank it was with though. You can do it by phone or online but have to provide copies of ID etc.
Maybe best to transfer the money from the sale across with someone like Moneycorp or Wise or whatever until you have opened an account in Spain.
Be aware that, if you are selling your home in UK and moving to Spain with a visa for residency before June you will be liable for Capital Gains Tax on your UK property in Spain as you will become resident in this financial year. Leave it until after June and you will not be a fiscal (tax paying ) resident until next year so only liable to any income (earned or from sales) on Spanish assets until then.
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Posted: Sat May 6, 2023 12:26am
RobertWJ64 wrote on Fri Apr 28, 2023 8:25pm:
We are selling our UK home to fund a property purchase in Spain , we were wondering if we should open a Spanish bank account or use something like the HSBC off shore account to deposit the money from sale? Also can we open Spanish account online ?? Some sites say we can others say not !!
Hi
We opened a Spanish account in Santa Pola with Caixa Bank. We had to visit taking passport NIE number etc…… before we purchased a property, then transferred money to it via a Wise account (in stages of course).
It was easier than we thought could not recommend Caixa Bank enough really helpful.
Good luck
Posted: Sat May 6, 2023 7:00pm
Helpful member
Deblovesspain wrote on Sat May 6, 2023 12:26am:
Hi
We opened a Spanish account in Santa Pola with Caixa Bank. We had to visit taking passport NIE number etc…… before we purchased a property, then transferred money to it via a Wise account (in stages of course).
Read more...
It was easier than we thought could not recommend Caixa Bank enough really helpful.
Good luck
You will eat your words yet !
Caixa is one of the worst banks ever and that's re-enforced should you look for reviews ! Crooks with no customer service or even care about customers.
Posted: Sat May 6, 2023 7:20pm
Super helpful member
Have you thought about opening an account with one of the online banks? The following links will provide you with more information:
https://n26.com/en-es/bank-account
https://wise.com/gb/blog/opening-a-bank-account-in-spain
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