Opening a bank account in Portugal

Banks of Portugal offer a wide range of services for both natural persons and legal entities. Novo Banco SA is our partner, and it offers processing of settlement accounts without personal presence. It is necessary to compile bank documents which can be prepared by our lawyers, and they send the package of documents to the Bank for consideration.

What documents are needed to open bank account in Portugal for non-resident?

1. Copies of passports of the account managers, as well as the beneficial owner. All information should be clearly visible on scans, and the copy should be colored.
2. Set of documents for the company (charter, extracts from the minutes, list of investors, shareholders and directors).
3. Detailed description of the activity with indication of business partners.
4. Reference from the place of work.
5. Confirmation of the place of residence.
6. CV.
7. Taxpayer Identification Number.

This list can be modified on an individual basis, so it is not recommended to collect it by yourself, because you risk personal time.

It is best to entrust the procedure to the lawyers of our company, as they have extensive experience in carrying out the process, therefore, they will promptly collect, translate and certify the required set of documents.

Peculiarities of Novo Banco SA

It is quite easy to open bank account in Portugal, the main part is selecting the bank with good terms and conditions and minimum requirements.

1. The period for opening account in the bank of Portugal without delivering documents is 15 banking days.
2. Description of activities consists in providing information on the scope of activities of the company with indication of your partners.
3. There are no requirements for initial contribution or minimum balance on the account, and the number of transactions per month or year is not limited.
4. The payment limit per day is changed by the client, and the term for conducting transactions does not exceed 2 days. It is possible to make urgent transfer.
5. The level of commissions and fees for monitoring the account is considerably low, and there is insurance coverage of payments.

Law&Trust International offers the service of opening bank account in Portugal for non-residents and the professionalism of our lawyers will ensure prompt procedure.


Portugal: list of banks
Name of the bank Account opening cost Founded
Novo Banco SA 790 EUR 1920