Opening a bank account in Portugal
In Portugal you will find that there are a wide range of different accounts and financial services.
It is possible to get current and savings accounts, business accounts, joint accounts, online banking and also special accounts that receive interest for paying your taxes, for example the Income tax (IRS) and Value Added Tax (IVA).
Opening a bank account
You will find that each bank has its own forms that will need to be filled out. These are usually:
- The client’s details and also to adhere to the banks services and products (Dados de cliente e Adesao a Productos e Servicos).
- The bank's Terms and Conditions (Condicoes Gerais).
- The bank's general application form.
| EU CITIZENS | NON-EU CITIZENS |
|---|---|
| Passport/or Identity Card | Passport and other another valid document proving identity with a colour photo |
| Residency Card | Proof of home address in country of origin |
| Tax Number & Card(Fiscal Number) | Tax Card(Fiscal Number) |
| Proof of Residence: E.g. Example, Utility bill, driving licence | Proof of profession/contract of employment and company details |
| Proof of Social Security number / National Insurance number ideally by way of Pay-slip or tax return | Proof of Social Security number / National Insurance number ideally by way of Pay-slip or tax return |
| Proof of your Fiscal Representative (usually a firm of lawyers) | Proof of your Fiscal Representative (usually a firm of lawyers) |
We fully understand that as a foreign investor it may be difficult to arrange the opening of an account in Portugal. We hope this information goes some way towards making the process easier.