Opening a Portuguese Bank from overseas
One of the requirements for applying 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 who provide English telephone support, on-line banking and telephone apps.
NIF Number
In order to open a bank account in Portugal, you will need to to apply for 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 a wide range of activities, including:
- 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. (See below)
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 specialise in assisting non-residents, particularly those applying for the Portuguese D7 Visa, with obtaining a Portuguese NIF (Número de Identificação Fiscal). These companies often provide a full suite of services tailored to expatriates, including NIF acquisition, bank account setup, and visa assistance. Here are some well-known companies offering NIF services:
- 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 specialises 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
Specialising 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.
Before selecting a bank, you will need to consider whether the bank offers on-line support in English or other languages if you do not speak Portuguese yet. You should also enquire whether they offer Phone Apps and on-line banking in your language. The author of this advice note choose Atlantico Bank, and we are pleased with our decision. We tried to apply for a Millennium Bank account, but their support at that time was poor, and they wanted lots of documents notarised, costing hundreds of Pounds.
Several banks in Portugal allow non-residents to open bank accounts from overseas. These banks often provide services tailored for expatriates or international clients. Here’s a list of major banks in Portugal that typically allow for opening an account 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 that is a subsidiary of Millennium BCP, offers a straightforward process for opening accounts, though it might still require some physical verification.
- Atlantico - A smaller bank in Portugal that is known for its online banking services, particularly catering to non-residents. We opened an account from the UK, and are happy with their English telephone support, apps and on-line 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 exact process can vary, and some may require a visit to Portugal at some stage 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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