Banking Account Portugal
Starting a Banking Account in Portugal
The process of opening a bank account in Portugal is quite different from what we are used to in the US. When phrased this way, it might sound like a daunting task, but in reality, it’s not.
I started with this statement because, over the past 15 years, we have assisted hundreds of clients in opening accounts at some of the most prestigious banks in Portugal. These clients include entrepreneurs, freelancers, self-employed individuals, and company employees.
We are here to assist!
The process of opening a bank account in Portugal depends on a variety of factors, such as how you pay your taxes, the amount you declare in your IRS (annual tax return), proof of business ownership or employment, proof of address in Portugal, a tax identification number (NIF), and a range of other documents.
If you wish to open a Portuguese bank account, the first step is to obtain a NIF (Número de Identificação Fiscal), which is your tax identification number. You can obtain a NIF through a fiscal representative in Portugal. This representative can be a financial agent or a lawyer who will make the request on your behalf. You will need this NIF to rent a property, start or join a business, make an investment, or handle any legal matters in Portugal.
Once you have gathered the necessary documents, the next step is to choose the bank that best suits your needs and the type of account that will support your transactions under the best contractual conditions.
Schedule a 100% free consultation today, and let us assist you with all the requirements needed for a quick and secure account setup.
