🇵🇹 Portugal · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
Quick answer
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.
Step-by-step
- 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.
Checklist
- 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)
Official authorities
- 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.
Official-information aggregation, not legal advice. Always verify on the authority's own site.
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