Working in Spain, being paid at home:
If you are in a position where you are likely to be disadvantaged by fluctuating exchange rates, it is possible under Spanish currency law for all or part of your salary to be paid into an account in your home country. If you are a resident of Spain for more than 183 days in any calendar year, though, you will need to pay tax. Unless your employer is familiar with these formalities, it is highly advisable to get a financial advisor – mistakes are easy to make in the complicated Spanish bureaucracy and mistakes can be costly. (See our section Tax Advisors/Accountants under Tax).
International transfers to/from a Spanish bank account:
Transfers are incredibly easy and handled more or less the same way as domestic transfers. The only extra requirement is that the IBAN number of the account in Spain must be provided for receipt of a transfer, or the IBAN of the receiving account must be provided for the sending of a transfer. For a guide to fees, see our Main Banks section.
An IBAN number is the worldwide standard used by almost all financial institutions, and is particularly important for making international money transfers. The number format is as follows (using a made-up number):
ES12 – 3456 – 7891 – 0111 – 2131- 4151
You can easily make the transfer at your bank branch, or, even from your home computer (depending upon your bank, of course).
