Do you need to open a Portuguese bank account?
Special conditions for e-residents
We offer the service of bank account opening online.
Thanks to our cooperation with the most trustable Portuguese banks we are able to offer a simplified procedure and a possibility of choice.
Understandable
All communication with the bank will be handled by our local legal team that is located in Portugal.
Convenient
Simple and fast procedure to save you the time and effort.
Personal
You will have a dedicated account manager, always within easy reach of just a WhatsApp text.
We simplify the process of opening a Portuguese bank account remote and make it as easy as it gets!
What’s the Portuguese Bank account opening process?
Fill out a quick online form
Verify your identity in minutes
Upload all required documents
You'll get your IBAN and personal account access codes
There are two options for the bank account opening:
REMOTELY
- Whole process is carried out online, you don’t even have to leave the house
- Bank will send your bank cards, they will be delivered by the bank to your door by mail
- This option takes 3-4 weeks (estimated time based on provided documents and not guaranteed)
- The cost of process fee is 299 EUR
IN PERSON
- If you are in Portugal in person
- Our employee will follow you to the bank office to help not only with papers, but also to cope with the language barrier
- This option takes just 3-4 days (estimated time based on provided documents and not guaranteed)
- The cost of process fee is 499 EUR
Please, note: to open a business bank account it's required to obtain a personal account first.
Bank account features:
Prestige
8.20 EUR
250 EUR
- IBAN PT50
- Online bank access via Mobile App
- Personal English speaking Account manager
Required documents:
IMPORTANT! Please note that all documents you provide must be either in English or Portuguese.
1. Passport scan
Only allowed format is scanned copies, photos are not accepted.
2. Proof of residence
Can be for example a utility/phone bill, signed rental agreement, scan of a document containing your name and address, etc.
3. Proof of profession
Can be a signed work contract, income statement, company statement. Signed manually by pen, no digital signatures.
4. Tax number from the country of residence
If you are taxed outside of Portugal, you are required to provide a document containing your tax ID number from this country. It should be the Tax Number of the same country, that is written in address field in your NIF certificate! Please note that some countries put this number in passports or identification cards. It is up to you to provide all the required information.
5. Portuguese NIF*
NIF is a Portuguese tax identification number that is emitted by the Tax Department. It’s required for most of financial activities in Portugal. If you don’t have it yet, you can get it online in 3 days with our services.
*not required for Estonian e-residents
The documents listed before are required to be provided, and the bank may additionally request separate documents based on its needs and your country of citizenship, employment and other reasons.
Cost
You are required to pay a 299 EUR processing fee when submitting your application.
This fee covers all expenses related to the opening procedures, however you are still supposed to deposit a minimum of 250 EUR to your bank account as well as pay the monthly 8.20 EUR bank fee for upkeep of your account.
FAQ
If you are a non-resident but have a NIF number (Portuguese tax number), you can open your account online.
Novobanco is one of the best banks in Portugal for foreigners. The top private banks in Portugal are Millennium BCP, Novobanco, Banco Santander Totta, and Banco Português de Investimento.
Yes, sure can.
All you'll need is a representative to get your NIF sorted out, then open the account on your behalf. You don't even need proof of an address in Portugal.
In most Portuguese banks, you need to make an initial deposit in order to open your account.
You can bring cash to the bank to deposit, or you can make a transfer from another account while you're at the branch. This amount varies, but is usually between €200 and €300.