Bank Account Creation

Opening a bank account in Portugal is a vital step in establishing your financial presence in the country.

Let us navigate you through the intricacies of setting up a bank account in Portugal, simplifying your financial transition and bringing you closer to realizing your dream of living in this beautiful country.

Portugal Tram Lisbon

Portuguese Bank Account

Our bank account creation service is designed to smoothly integrate you into the Portuguese financial system, laying the groundwork for successful residency applications and your life in Portugal.

Why creting your Bank Account?

Process Stages

Documents Sending

In this initial stage, clients are required to send a copy of their passport, NIF certificate, proof of income and address, among others. This is a critical step, as these documents form the foundation of the Bank Account application process. Accuracy and clarity of these documents are paramount to ensure a smooth progression to the next stages.

Paperwork Drafting

At this stage, our external partners draft the Power of Attorney (PoA) and other necessary documents needed to create your bank account remotely. This process involves careful consideration of the client’s specific circumstances and requirements, ensuring that all legal and procedural standards are met.

Documents Signing

Clients will receive the drafted PoA and related documents for review and signature. Clients are advised to thoroughly review the documents before signing to ensure all details are correct and understood.

Application Submission

With the signed documents in hand, we proceed to submit the bank account creation at a Portuguese bank instution. Our expertise and familiarity with the process play a vital role in navigating this stage efficiently.

Bank Compliance

At this stage in establishing your Portuguese bank account, your submitted documents are reviewed by the bank’s dedicated compliance team. This team, specialized in verifying and ensuring the accuracy and validity of all provided information, plays a pivotal role in safeguarding the integrity of the account creation process. Upon receiving your documents, they conduct a thorough analysis, assessing each detail against regulatory requirements and banking standards. This rigorous evaluation is essential to ensure that your application aligns with legal and financial guidelines.

Bank Account Creation

The final stage concludes with the establishment of your bank account in Portugal. Once set up, this account becomes a primary tool for managing your fiscal and financial activities in the country. We ensure that the details of your new bank account are securely communicated to you, signifying the successful completion of our bank account creation service. This account will be instrumental in your financial journey in Portugal, facilitating transactions and integrating you into the country’s financial system.

Bank Account Creation

Price per applicant
250 Plus V.A.T.
  • Collecting necessary personal documents such as passport, proof of address, and fiscal number (NIF) for the account opening process.
  • Researching and selecting a bank that best suits your needs, and deciding on the type of account (savings, current, etc.) that aligns with your financial goals.
  • Filling out the bank's application form with personal and financial details, either online or in person at a bank branch.
  • Submitting the application along with the required documents for the bank's compliance team to conduct verification and due diligence checks.
  • Once approved, activating the account, setting up online banking, and receiving necessary banking tools like a debit card, checkbook, and secure online access credentials.

Terms and Conditions

1. Privacy and Legal Compliance:
We ensure the privacy and protection of all personal data provided during the bank account creation process, adhering strictly to data protection laws and regulations.

2. Service Restrictions:
Our bank account creation services are currently not available to nationals from countries in the Middle East region. This policy is subject to revisions based on international laws and our company policies.

3. Refund Policy:
Clients are entitled to a full refund if the bank account is not successfully set up within a stipulated timeframe, except in cases where delays are caused by the client, such as providing incomplete or incorrect information.

4. Discounts on Additional Services:
Clients who engage in additional services with us may be eligible for discounts. Details of these discounts will be provided at the time of service engagement.

5. Modifications to Terms and Conditions:
We reserve the right to amend these terms and conditions at any time. Changes will become effective immediately upon their posting on our website.

6. Limitation of Liability:
Our liability in relation to the bank account creation service is limited to the fee paid by the client. We are not responsible for indirect, incidental, or consequential damages.

7. Dispute Resolution:
Disputes related to this service will be resolved through arbitration, following the rules applicable in Portugal.

8. Acceptance of Terms:
By using our bank account creation service, clients agree to these terms and conditions.

Bank Account Creation in Portugal

Frequently Asked Questions

  • Valid Passport or ID card.
  • Portuguese Tax Identification Number (NIF).
  • Proof of Address (can be a utility bill or a statement from your current bank).
  • Proof of Employment or Income (if applicable).

Yes, non-residents can open a bank account in Portugal. However, the types of accounts and services available may differ from those offered to residents.

While most banks require your physical presence, some may offer online account opening options, especially for non-residents. It’s best to check with specific banks for their requirements.

There are several types, including current accounts (conta corrente), savings accounts (conta poupança), and international or non-resident accounts.

This varies by bank. Some may charge an opening fee, while others might have maintenance or transaction fees. Always ask for a detailed fee structure.

The process can take anywhere from a few days to a few weeks, depending on the bank and the completeness of your documentation.

A Portuguese Tax Identification Number (NIF) is typically required. In special circumstances, some banks might allow account opening without a NIF, but this is rare.

Generally, there are no restrictions on international transfers, but banks may require documentation for large transactions due to anti-money laundering regulations.

To close your account, you usually need to visit the bank in person and fill out a closure form. Some banks may allow this process to be done remotely.

Many banks in Portugal offer services in English, especially in areas with a high expatriate population, but it’s not guaranteed in all branches.