AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
A Spanish bank will open a business account for a non-EU founder, but only once it can identify the business, the people who own and run it, and where the money comes from. For an SL that usually means the incorporation deed, the company NIF and the directors' identity documents; for an autónomo it means your own NIE or TIE and proof that you are registered to trade. Nigerian documents in the file need legalisation and a sworn translation, because Nigeria is not a party to the Apostille Convention (HCCH, updated 30 June 2026).
Most Nigerian founders in Spain hit the bank question early: the notary wants proof that the share capital has been paid in, the landlord wants a Spanish account for the rent, and clients want an IBAN to pay into. This guide sets out what Spanish banks typically ask for, why they ask, and how to prepare a file that does not stall. Each bank sets its own list, so treat this as the questions to expect rather than a fixed checklist.
Why Spanish banks ask for so much
Banks in Spain, like banks across the European Union, must identify every customer and every person who ultimately owns or controls a business customer before they open an account, and must understand the purpose of the account and the source of the money. A founder from outside the EU is not refused for that reason alone, but the bank will look harder at documents issued abroad and at money arriving from abroad. The more of the story your file answers in advance, the fewer follow-up requests you get.
If you trade through an SL
An SL (sociedad de responsabilidad limitada) is a company with its own legal identity, so the bank is opening an account for the company and checking the people behind it. Expect requests along these lines:
- The public deed of incorporation (escritura de constitución) signed before a Spanish notary, and the company's bylaws (estatutos).
- The company's NIF from the Agencia Tributaria. Early on this may be the number first assigned before registration; see our guide to getting a NIF for a new company.
- Proof of registration at the Registro Mercantil once it is complete.
- The identity documents of each director (administrador) and each person who owns or controls the company, usually a passport plus the NIE or TIE for anyone living in Spain.
- A declaration of beneficial ownership listing the individuals who ultimately own or control the company.
- A short description of the business, expected monthly turnover, main countries you will pay and be paid from, and the source of the starting capital.
The order matters. Many founders need a bank certificate showing the share capital has been deposited before the notary will sign the deed. Some banks open a restricted account for that deposit first and convert it to a full business account once the deed and NIF are in hand. Ask the bank at the first meeting whether it offers that route and what it needs at each stage.
If you trade as an autónomo
An autónomo is a self-employed individual, so the account is yours, used for the business. Banks generally ask for your passport, your NIE or TIE, proof of address in Spain (often the empadronamiento certificate), and evidence that you are registered to trade: your census registration with the Agencia Tributaria and your registration in the self-employed scheme with the Seguridad Social. The Estatuto del trabajo autónomo states that it applies to foreign self-employed workers who meet the requirements of Ley Orgánica 4/2000 on foreigners (Ley 20/2007, article 1.4, consolidated text updated 2 September 2026), so your residence permit must allow self-employed work. A bank may ask to see it.
If you do not yet have a TIE, read our guides to getting a NIE and to opening a personal account with a Nigerian passport before you approach a bank for business banking.
Documents from Nigeria: legalise and translate
Where the bank asks for a Nigerian document, such as a CAC certificate for a Nigerian parent company, a Nigerian bank reference or proof of where your capital came from, it will usually want it in a form Spanish institutions accept. Nigeria does not appear on the HCCH Apostille Convention status table (updated 30 June 2026), so an apostille is not available. The legalisation route described by the Universidad de Deusto for non-Hague countries runs through the issuing country's relevant ministry, then its Ministry of Foreign Affairs, then the Spanish embassy or consulate in that country. A translation into Spanish by a traductor jurado (sworn translator) is then normally needed.
What to check first
- Ask two or three banks for their written document list for your structure (SL or autónomo). Lists differ.
- Check whether the bank can issue the capital-deposit certificate the notary needs, and how long it takes.
- Prepare a one-page business summary: activity, expected turnover, countries, source of capital.
- Have your source-of-funds evidence ready in Spanish: payslips, sale contracts, bank statements, legalised and translated where they come from Nigeria.
- Ask about monthly maintenance charges and transfer fees, and get them in writing. They vary by bank and by account.
Common reasons for delay
- A director or owner without a NIE.
- Money for the share capital arriving from a third party without an explanation.
- Nigerian documents not legalised, or translated by someone who is not a sworn translator.
- A business description that does not match the activity in the bylaws.
Where Pryme fits
A Spanish IBAN remains the account most Spanish suppliers, landlords and tax authorities expect. A Pryme Business Account can sit alongside it for the Nigerian side of the business: one account holding NGN, USD, GBP and EUR with local details for each, and Swap to convert only when you choose, with the rate and fee shown before you approve. Outside Nigeria, Pryme's activities are carried out through regulated partners. See how it works.
Questions people ask
Can I open a Spanish business account without a NIE?
An SL can be a customer in its own right, but the bank will still need to identify its directors and owners, and Spanish banks commonly ask for a NIE for anyone living in Spain. A non-resident director should ask the bank which identity documents it accepts.
Do I need a Spanish bank account to set up an SL?
In practice the notary usually needs a bank certificate showing the share capital has been paid in, so most founders open an account, or at least a capital-deposit account, before signing the deed.
Will a Spanish bank accept my CAC certificate?
It may, if the bank needs it, once it has been legalised through the Nigerian and Spanish authorities and translated by a sworn translator. Nigeria is not on the Apostille Convention list, so an apostille is not available.
Is an autónomo account different from a personal account?
The account belongs to you either way. Banks often market separate accounts for the self-employed and may ask for proof of your registration with the Agencia Tributaria and the Seguridad Social.
Sources
- BOE: Ley 20/2007, del Estatuto del trabajo autónomo (consolidated text, last updated 2 Sep 2026) · accessed Oct 2026
- HCCH: Apostille Convention status table (updated 30 Jun 2026) · accessed Oct 2026
- Universidad de Deusto: Legalisation of foreign documents · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.