Why Is This Complicated for Iranians?
EU and US sanctions against Iran have cut Iranian banks off from the SWIFT interbank messaging network. This does not mean a total ban for Iranian citizens, but Spanish banks are required to carry out more thorough checks (comprobación reforzada) regarding client identity, the origin of funds and the purpose of transactions connected to Iran.
Holding Iranian nationality is not in itself a reason to refuse an account opening. The problem usually stems from a lack of transparency in the documentation or the absence of a clear explanation of the origin of funds.
Opening a Bank Account in Spain
- A valid residence card (TIE) or NIE
- A valid Iranian passport
- Proof of residential address in Spain (Empadronamiento or lease agreement)
- A clear explanation of the source of income or capital (salary, savings, property sale, inheritance)
Pathways to Transfer Money from Iran
Since a direct bank-to-bank transfer between Iran and Spain via SWIFT is not practically possible, most Iranian citizens use one of the following methods:
| Method | Important note |
|---|---|
| Reputable international exchange houses | Must have a legal track record and provide documentation on the origin of funds. |
| Transfer through a third country | Such as the UAE or Turkey, complying with both countries' anti-money-laundering regulations. |
| Declared cash carried while travelling | Amounts above €10,000 must be declared upon entering the European Union. |
Using informal intermediaries or non-transparent transfer networks ("hawala") can lead to your bank account in Spain being blocked under anti-money-laundering regulations (Ley de Prevención de Blanqueo de Capitales), even if the origin of the money is legal.
Proving the Origin of Funds (Origen de fondos)
For significant amounts (for example, to buy property or make an investment), the Spanish bank will request official documentation on the origin of the money: a property or business sale contract in Iran, payslips, tax returns or inheritance documents. These documents must be officially translated and, if required, undergo consular certification (not an apostille) — as explained in the document certification section.
Frequently Asked Questions
Why is opening a bank account harder for Iranians in Spain?
Due to international sanctions, Spanish banks carry out more thorough checks on the origin of funds for clients with a direct connection to Iran. This does not mean a ban, but more documentation is required.
Can I transfer money directly from an Iranian bank to Spain?
Iranian banks do not have access to the SWIFT network, so a direct transfer is generally not possible. Most people use international exchange houses or a transfer through a third country.
What documents are needed to prove the origin of funds?
A property sale contract, payslips, tax returns, inheritance documents or a business sale contract, together with an official translation and, if required, consular certification.