Opening a Portuguese Bank Account from Overseas
One of the requirements for applying for a D7 Visa is to have a Portuguese bank account.
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If you don’t yet speak or read Portuguese, select a bank like Atlantico, which provides English telephone support, online banking, and telephone apps.
NIF Number
In order to open a bank account in Portugal, you will need to apply for a NIF Number.
What is a NIF Number?
A Portuguese NIF (Número de Identificação Fiscal) is a tax identification number used for various fiscal and legal purposes in Portugal. It is issued by the Portuguese tax authority (Autoridade Tributária e Aduaneira) and is required for:
- Opening a bank account
- Signing a rental or purchase contract for property
- Setting up utility services
- Receiving income or employment in Portugal
- Engaging in business activities or self-employment
The NIF is a nine-digit number unique to each individual or entity and is essential for anyone who needs to interact with the Portuguese tax system, even if they are not a resident in Portugal. Non-residents can obtain an NIF through a Portuguese consulate or by appointing a tax representative in Portugal.
Get a NIF Number
Which companies offer a service to apply for a NIF number for non-residents applying for the Portuguese D7 Visa?
Several companies specialize in assisting non-residents, particularly those applying for the Portuguese D7 Visa, with obtaining a Portuguese NIF. Here are some well-known options:
- European Odyssey, Ellie Rose
Ellie is an admin at our FaceBook Group and offers a full service to those moving to Portugal. 5% off normal rates for members of our FaceBook group, and a free consultation, click the link to book. - Bordr.io
Bordr.io specializes in helping non-residents obtain a Portuguese NIF and open bank accounts. They offer an online service where you can apply for your NIF remotely, and the process is typically fast and straightforward. - GetNIFPortugal
This company offers a service specifically for obtaining the NIF for non-residents. They handle the entire process online, and their service is popular among people applying for visas, such as the D7. - NIFonline
NIFonline.pt focuses on providing a streamlined service to get a Portuguese NIF for non-residents. They offer an online application process and support throughout the process. - Ei! Assessoria Migratória
Specializing in migration services, Ei! offers help with obtaining an NIF, opening a bank account, and other related services for those applying for the D7 visa or planning to move to Portugal.
These companies typically charge a fee for their services, and they make the process of obtaining an NIF relatively simple, especially if you are applying from abroad. Be sure to choose a reputable company with good reviews, and always confirm their services align with your specific needs.
Banks in Portugal that Allow Opening an Account from Overseas
Before selecting a bank, consider whether they offer online support in English or other languages if you do not speak Portuguese yet. Also, inquire about Phone Apps and online banking in your language. The author of this advice note chose Atlantico Bank and is pleased with the decision. An attempt to apply for a Millennium Bank account was less successful due to poor support and high document notarization costs.
Here’s a list of major banks in Portugal that generally allow non-residents to open accounts from abroad:
- Millennium BCP - Portugal's largest private bank offers accounts for non-residents. The process can be initiated online, but a visit to a branch might be required.
- Caixa Geral de Depósitos (CGD) - Portugal's state-owned bank provides options for non-residents to open accounts. It may require a visit to a branch or Portuguese consulate.
- Banco Santander Totta - This bank offers accounts for non-residents, and the process can often start online, with some documentation needed to be sent by mail.
- Novo Banco - Novo Banco allows non-residents to open accounts, typically requiring documentation to be sent via post or through a local representative.
- Banco BPI - BPI offers accounts for non-residents and typically requires in-person verification at a branch.
- ActivoBank - A digital bank, a subsidiary of Millennium BCP, offers a straightforward process for opening accounts, though it might still require some physical verification.
- Atlantico - A smaller bank known for its online banking services, particularly catering to non-residents. It offers English telephone support, apps, and online banking.
- Abanca - This bank operates in Portugal and Spain and allows non-residents to open accounts, usually requiring documentation to be submitted.
While these banks generally allow non-residents to open accounts, the process can vary, and some may require a visit to Portugal for identity verification, especially if it's your first account in the country. Always check directly with the bank to understand the specific requirements, as policies can change.
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