Step 4 – Final Signing with the Notary & Opening Your Spanish Bank Account

To launch your property search efficiently, we need the following documents:

Under European anti-money laundering laws, Spanish banks must verify the source of funds for all transactions, whether you’re paying in cash or using a mortgage.

You will need to provide documentation showing where the money comes from, such as:

• Personal savings

• Inheritance or gifts

• Loans

Accepted documents may include:

• Bank statements

• Loan or gift agreements

• Proof of transfers

• Any official record tracking the origin of the funds

Failure to provide the required documents in time may result in the funds being blocked and returned to the original account within 10 days.
To avoid delays or complications, we recommend preparing these documents well in advance.

Make sure that all decision-makers are present during the visits.
The Spanish market moves quickly — if a decision is delayed, the opportunity might be lost.

Opening a non-resident bank account is required for:

• Setting up utilities (electricity, water, etc.)

• Paying local property taxes

You may expect low monthly maintenance fees depending on the bank.

Documents required:

For all applicants:

• Last two annual tax returns

If employed:

• Last three payslips

If self-employed:

• Last two balance sheets

• Last two income declarations

If you have other sources of income:

• Supporting documents as proof

For Swiss and non-EU nationals:

• FICP certificate (can be requested online)

We strongly recommend subscribing to a home insurance policy through your Spanish bank.
This typically covers damage from fire, water leaks, and other incidents.
In many cases, bundling insurance with your account will also reduce monthly banking fees.

This is not a fixed cost but a provision to cover expenses such as:

• Registration of the new owner

• Legal and administrative processing (land registry, certificates, etc.)

Within 3 to 8 months after the notary appointment, actual invoices will be issued. If:

• Costs are lower than the provision → you’ll be refunded the difference

• Costs exceed the provision → you’ll be asked to cover the balance

You’ll receive a simple copy of the signed deed (escritura). This document will be used for your post-purchase administrative tasks.

Next steps include:

1. Tax Payment
   Depending on whether the property is new or second-hand, you’ll need to pay VAT, transfer tax, or registration duties.

2. Land Registry
   Once taxes are paid, the deed is submitted to the Land Registry (Registro de la Propiedad) for official registration under your name.

3. Final Title Deed Issued
   After registration, which may take a few months, you’ll receive the final registered deed — your official proof of ownership.