What is a foreign currency account?

An account holding a balance in a currency other than the euro, useful for receiving and paying in that currency without converting each time.

Do you help foreign companies setting up in the Canary Islands?

We can advise on banking and financing. The tax and corporate structure is defined by a specialist adviser.

All services

International business

Payments, guarantees and currency cover for companies that import or export.

Book a meeting

What is included

Letters of credit

Currency hedging

International guarantees

Who it is for: For companies that buy, sell or collect outside Spain and need to manage currencies, collection risk and the Canary Islands' tax specifics.

What is worth knowing

SEPA transfers

Within the SEPA area, euro transfers follow a common standard with short settlement times, and an instant option is available around the clock.

Products Agustín can arrange for you

International collections and payments

Transfers, cheques, remittances and letters of credit.

Export advances

Finance a foreign sale from the moment the goods are shipped.

Import financing

Defer payment for purchases abroad.

Currency forwards

Lock in today the exchange rate of a future payment or receipt.

International guarantees

Guarantees for customers and suppliers in other countries.

Shipment tracking

Follow your exports and imports.

Interest rates, discounts, fees and promotions change often: Agustín gives you the current terms, at the meeting.

How we work

Listen

An unhurried conversation about your situation, goals and timing. Most things are decided here.

Analyse

I review what you already have, what it costs and what is missing, and compare it with the market.

Propose

I present the options with pros and cons, in writing and without unnecessary jargon.

Support

I support you through the process and review progress with you when your circumstances change.

What to bring to the meeting

Latest balance sheet and P&L

List of current debts

Cash forecast

Watch out for

Currency swings can wipe out your margin: consider hedging on large deals.

Check what customs and tax paperwork your transaction requires before closing it.

For the specific tax treatment of your transaction, consult your tax or customs adviser.

Frequently asked questions

Depending on the customer and country risk, you can ask for advance payment, use a documentary credit or take out credit insurance. It is chosen according to the transaction.

General, indicative information on regulations and products in Spain. Terms and rules change and every case is different: they are confirmed at the meeting. It is not personalised advice or an offer.

Shall we look at your own case?

A 30-minute meeting, no commitment. You arrive with a summary and leave with clear next steps.