1 de September, 2026
Did you know that it’s possible to open a bank account in Portugal even if you are a foreigner or non-resident? Although the process is not always simple and may involve some obstacles, it’s an essential step for anyone planning to invest, live, or work in the country. In some cases, it’s even a prerequisite for certain visas, such as the D7 Visa (passive income) and the D2 Visa (entrepreneur). That’s why it’s important to understand how to open a bank account in Portugal, whether as an individual or a company.
The requirements for opening a bank account can vary depending on your nationality, the chosen bank, and the type of account — individual or corporate. This article answers the most common questions on the subject, explains how foreigners can open a Portuguese bank account, and provides practical tips to make the process easier.
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Yes. Foreigners can open a bank account in Portugal even without legal residence in the country. The procedure is slightly more complex compared to in-person applications but still possible in most Portuguese banks.
Yes. Many banks in Portugal allow clients to open a bank account remotely (online), confirming identity through video call verification, for both individuals and companies.
One of our main recommendations. For remote account opening, documents must be sent by post (physically), properly translated and apostilled (or notarized at a Consulate).
CGD accepts clients from the United States and Canada and is especially recommended for Golden Visa Portugal investors.
The account maintenance fee is €5.00/month + Stamp Duty (4%), totaling €5.20/month (approx. €62.40/year).
Another good option, frequently used by clients from the United States, as it has a representation office in Newark and allows remote service.
A solid choice that offers account opening for foreigners via email submission (fully online).
Although the process is straightforward, it may take a bit longer due to smaller staff capacity.
It’s also a strong option for American clients.
Generally allows online account opening, including for U.S. citizens, but requirements can change from time to time Offers premium plans from €14.99/month for those who prefer an account managed by dedicated advisors, as an alternative to the basic digital plans managed through the bank’s app.
Also caters to Golden Visa investors.
An excellent bank, but with a limitation: it only accepts account openings upon proof of visa appointment at a Consulate or VFS Global, which makes it unsuitable for applicants who need the account to apply for the visa itself. It has a representation office in London and is often recommended for clients coming from the UK.
A bank focused on high-net-worth clients and Golden Visa investors.
It requires a minimum initial deposit of €5,000 and charges a monthly maintenance fee between €16 and €32. Additionally, clients must invest at least €15,000 in a long-term fund.
Also recommended for clients with significant investment capacity, including Golden Visa applicants.
It requires a long-term investment and charges a higher maintenance fee (500€/year).
*These values are for reference purposes only and are subject to change without prior notice. It is recommended to verify the updated fees before starting the process.
These are excellent options for travelers who wish to manage multi-currency accounts.
They offer fully remote account opening and no maintenance fees on basic plans.
However, they are not accepted for visa applications in Portugal at the moment.
The NIB (Número de Identificação Bancária) is the national format of the bank account number, while the IBAN (International Bank Account Number) is the international code identifying accounts across the EU.
A Portuguese IBAN has 25 characters and begins with PT50 — “PT” being the country code, followed by two control digits (“50” in Portugal’s case).
⚠️ Note: Not all digital banks provide a Portuguese IBAN. For example, Revolut uses a Lithuanian IBAN, which may cause restrictions — some employers and public institutions in Portugal do not accept payments to international multi-currency accounts. Evaluate whether this suits your personal situation before choosing.
Opening a bank account in Portugal makes daily life easier and can even be mandatory in several situations:
The required documents vary depending on the bank, but generally include:
Anyone without legal residence who intends to open a bank account, buy property, or start a business in Portugal must have an authorized tax representative.
Atlantic Bridge provides this service — contact us for assistance.
Anyone legally residing in Portugal can act as your tax representative, dealing with the Tax Authority (Finanças) on your behalf to obtain the NIF.
Family members, friends, or specialized professionals such as immigration lawyers can take on this role.
However, remember that this person will be legally responsible for your tax correspondence, so choose someone you trust.
Until you have proof of residence in Portugal, your representative will handle your tax updates, correspondence, and clarifications. Once you obtain residency, you can cancel the representation and manage everything directly.
Prioritize your security — choose Atlantic Bridge!
The initial deposit depends on the bank and whether the account is personal or corporate.
Individuals are usually required to deposit between €50 and €250, while companies may need to provide a much higher amount, up to €2,500.
When the account is linked to a visa application (such as the D7), the minimum deposit tends to be higher, in line with the financial subsistence level set by AIMA. You can find more details in our article about the D7 Visa Portugal.
Unlike digital multi-currency banks, most Portuguese banks charge monthly maintenance fees, typically ranging from €4 to €15, depending on the institution and account type.
The requirements and obstacles depend on your nationality and the chosen bank.
Some institutions — such as BPI — require a residence permit or visa, which can create a paradox: foreigners often need the bank account to apply for the visa, yet the bank will only open it after the visa is approved.
Others require proof of visa application through VFS, which usually occurs after the account is opened.
Additionally, non-residents must first obtain a NIF and appoint a tax representative.
Portugal allows citizens of most countries to open a bank account.
Restrictions apply only to nations at war or under international sanctions, such as Russia and Ukraine.
If you plan to visit Portugal — whether to search for property or get to know the country better — we strongly recommend opening your bank account in person during your stay.
It’s the quickest and safest way to complete the process.
We work with a network of partner banks and are authorized to assist and follow up with clients throughout the account-opening process.
The Atlantic Bridge team supports clients from various countries in opening a bank account in Portugal, even for non-residents, providing guidance on required documents, bank selection, obtaining a NIF, and tax representation — whether for visa applications, real estate purchases, or business setup.
➡️ Contact our team of consultants to discover how to make your move smoother — whether you plan to work, invest, or live in Portugal.
Author:
Silvia Resende
