Business Bank Account: Who Qualifies and What You Get
Learn how registered freelancers in Spain can separate their finances with a dedicated business account to stay compliant with tax rules.
A Business Bank Account is a dedicated financial account used to manage all income and expenses related to your professional activities.
Who it's for
This is designed specifically for registered freelancers who need to manage their professional finances separately from their personal money.
What you get
You receive a dedicated IBAN, which is a standard international bank account number. This allows you to receive payments from clients and pay your business expenses through a single, professional channel.
What it costs you
There are monthly maintenance fees for these accounts. Depending on the bank and the specific features you choose, these costs can range from €0 to €30.
The catch to know
It is important to keep your professional and personal money separate. Using your personal bank account to handle business transactions is a red flag for the tax office and can cause issues during an audit.
How to apply
- Choose a commercial bank that offers business accounts.
- Gather your registration documents that prove your status as a freelancer.
- Visit the bank or use their digital platform to open the account.
- Link your new IBAN to your business operations.