
Essential Services
Healthcare, legal, financial, and home services — what you need and how it works in Mallorca.
Finance
Spanish Banks
A Spanish bank account is near-essential for rental payments, utilities, and direct debits. Main options: CaixaBank (widest ATM network), Sabadell (expat-friendly), Bankinter, and BBVA. Most require an in-person visit with your NIE and passport to open an account.
CaixaBank's 'Cuenta Nómina' is popular with residents; Sabadell has English-speaking staff in Palma.
Tax Advisors (Asesores Fiscales)
Spain's tax system is complex, especially if you have income from multiple countries, are self-employed (autónomo), or have assets abroad. An asesor fiscal will handle your annual Renta (income tax) and any quarterly filings. Fees from €150–€500/year depending on complexity.
If you have assets over €50,000 outside Spain you must file Modelo 720. Non-disclosure penalties are severe.
Currency Transfer
If you're transferring significant funds to Spain — for a property purchase or moving savings — specialist currency brokers (Wise, Currencies Direct, Moneycorp) beat bank exchange rates significantly. For a €300,000 transfer, the difference can be €3,000–€6,000.
Never use your bank's default exchange rate for large transfers. Always compare at least two specialists.
Financial Advisors (IFAs)
Expat IFAs help with pension planning, offshore bonds, and tax-efficient investment structures for residents in Spain. Look for advisors registered with the CNMV (Spain) or dual-regulated with the FCA (UK). Several Mallorca-based firms serve the British and Northern European expat market.
Listed providers
Adeslas Segurcaixa — insurance — in Mallorca
Asesores Alcudia — financial advisor — in Mallorca
Fenway Consulting — accountant — in Mallorca
Genovard & Amengual — financial advisor — in Mallorca
Ges Seguros — insurance — in Mallorca
Nationale Nederlanden — insurance — in Mallorca
Puigserver y Romaguera — financial advisor — in Mallorca
Tramitacions Artà — financial advisor — in Mallorca
Provider listings sourced from OpenStreetMap © OpenStreetMap contributors. Always verify qualifications independently. Last reviewed May 2026.