Portugal · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
AI-drafted, editorially reviewed. Confirm specifics with the official authority.
Portuguese banking includes major retail banks and online options. Opening an account usually needs an NIF, ID and proof of address; non-residents can open accounts with additional documents. The Banco de Portugal supervises banks.
Banks in Portugal are supervised by the Banco de Portugal within the EU/ECB framework. Opening an account typically needs an NIF, identification and proof of address.
- The Banco de Portugal supervises banks alongside the ECB.
- An account usually requires an NIF, identification and proof of address.
- Non-resident accounts are available with additional documentation.
- 1
Get your NIF
The NIF (Número de Identificação Fiscal) is needed for banking and most contracts; get it in person at Finanças or through a fiscal representative.
- 2
Choose a bank
Pick a major retail bank or an online bank; non-residents can open an account (in person, or remotely via a lawyer / service) using a foreign address.
- 3
Gather your documents
Have a valid ID or passport, your NIF, proof of address and proof of income or source of funds; some banks require documents translated, certified or apostilled.
- 4
Prepare business documents (business accounts)
For a business account, prepare the commercial-register certificate and beneficial-owner information.
- 5
Complete identity and KYC checks
Banks run know-your-customer and anti-money-laundering checks before opening the account.
- 6
Activate the account and set up SEPA payments
Receive your IBAN and card, then set up salary, rent and SEPA direct debits (débito directo); MB WAY is the popular mobile-payment app.
- NIF (tax number)
- Valid ID or passport
- Proof of address (foreign address for non-residents)
- Proof of income / source of funds
- Commercial-register certificate + beneficial-owner info — business accounts
- Initial deposit (if required by the bank)
- Banco de Portugal
Central bank and banking supervision.
Frequently asked questions
Do I need an NIF to open a Portuguese account?
Practically yes — an NIF is needed for most banking and contracts; non-residents can still open accounts with extra documentation.
Can I open an account as a non-resident?
Yes — several banks offer non-resident accounts, useful before you obtain residency.
Are digital banks available?
Yes — online and app-based banks operate in Portugal alongside traditional banks.
Government portals
- ePortugal — Citizen and business services incl. residence and foreign-resident matters
- Tax Portal (Portal das Finanças) — Portuguese income tax (IRS), VAT (IVA), and tax number (NIF)
- AICEP Portugal Global — Foreign investment and trade promotion