Opening a Portuguese bank account involves different documentation depending on where you're from and which visa you're pursuing. This guide breaks it down so you know exactly what to prepare.
Portuguese banks have specific compliance requirements that vary based on your nationality and immigration status. This isn't about making things difficult — it's about ensuring that the bank can properly verify your identity and understand your connection to Portugal. Think of it as building a foundation of trust: the more clearly you can demonstrate who you are and why you're coming to Portugal, the smoother your application will be.
We work with clients from around the world, but the documentation you'll need depends on your starting point. Generally speaking, applicants fall into two groups:
If you hold a passport from any EU member state, a Schengen country, or the United Kingdom, the process is relatively straightforward. You have the right to open a bank account without proving immigration intent — your nationality already establishes your connection to Europe.
If your passport is from outside the EU, Schengen Area, or UK, Portuguese banks need additional assurance that you have a legitimate reason to establish financial ties in Portugal. This is where visa documentation becomes essential.
We want to be completely transparent with you: if you're from outside the European Union or United Kingdom, we can only move forward with your bank account application under specific circumstances. This isn't our policy — it's a requirement from Portuguese financial institutions.
To proceed, you must be able to provide:
Regardless of where you're from, these are the foundational documents required for any Portuguese bank account application:
Each Portuguese visa category has its own purpose, and banks want to see documentation that aligns with that purpose. Select your visa type below to see exactly what additional documents you'll need:
Banks typically expect to see €5,000 to €10,000 or more in available savings to demonstrate your ability to support your business venture during its initial phase.
No specific savings threshold is mandated, but banks may request recent bank statements to verify your financial stability.
If you're self-funding your education, you'll need to demonstrate sufficient funds to cover both tuition fees and living expenses throughout your studies.
Banks typically expect annual income or savings of approximately:
While there's no fixed savings requirement, banks commonly request 3 to 6 months of income statements or bank records demonstrating consistent earnings.
Now that you understand what's required, gather your documents and begin your Portuguese bank account application.