Portuguese Banks Introduce New Account Options for Non-Residents

Portugal’s banking sector has taken significant steps in 2025 to simplify and modernize the process of opening bank accounts for non-residents. These changes come in response to rising international demand, especially from digital nomads, remote workers, foreign investors, and individuals pursuing residency through visas such as the D7 or D2.

New Solutions for a Global Market

Historically, non-residents faced bureaucratic hurdles when trying to open a bank account in Portugal—particularly when doing so from abroad. However, several leading banks have now launched dedicated account options for foreign clients, featuring:

Remote account opening: Many banks now allow initial account setup entirely online or via video call, reducing the need for in-person visits.

English-speaking support teams: Specialized departments now assist international clients in English and other major languages.

Tailored accounts for visa applicants: Some banks offer accounts specifically designed for those applying for D7, D2, or Golden Visas, including required balance certifications.

Multi-currency and international features: New account types include low-cost international transfers, currency exchange tools, and integration with global banking apps.

Key Requirements and Regulatory Updates

As part of enhanced compliance and anti-money laundering (AML) regulations, Portuguese banks continue to request standard documentation from non-residents, including:

Valid passport or EU/EEA ID

Portuguese NIF (Tax Identification Number)

Proof of address (can be international)

Proof of income or employment

Visa application documents (if applicable)

While regulation remains strict, recent updates from Banco de Portugal encourage greater clarity, transparency, and consistency across banks, helping reduce delays and inconsistencies.

Digitalization and Fintech Partnerships

Portugal’s banking sector is also embracing fintech innovation. In 2025, some banks now partner with digital platforms to streamline onboarding for foreigners, including faster identity verification and automated compliance checks. These developments are making Portuguese banking more accessible, secure, and convenient for global users.

How WelBridge Facilitates Your Account Opening

At WelBridge, we simplify the entire process of opening a Portuguese bank account—whether you’re abroad or already in Portugal. Our experienced team works with major Portuguese banks to:

Identify the most suitable banking option for your needs

Assist with obtaining your NIF

Prepare and submit required documentation

Coordinate remote account opening when possible

Ensure your account meets the requirements for visa applications

Provide post-opening support, including mobile banking setup and integration

Start Banking in Portugal with Confidence

A Portuguese bank account is often a key step toward residency, property investment, or establishing financial presence in the EU. Let WelBridge guide you through the process—efficiently, legally, and with full peace of mind.

These improvements reflect Portugal’s growing appeal to international residents and investors, with banks adapting their services to meet the needs of a diverse client base.

Navigating Your Banking Options

With these new offerings, selecting the right Portuguese bank has become both more promising and more complex. Each institution offers distinct advantages depending on your specific needs, transaction patterns, and investment goals.

WelBridge’s banking specialists maintain relationships with all major Portuguese banks and stay current on their non-resident offerings. Our bank account service now includes a comparative analysis of available options, personalized recommendations based on your financial profile, and complete application support.

For clients combining NIF and banking services, we offer a streamlined package that coordinates both processes for maximum efficiency. Contact our financial integration team to discuss which Portuguese banking options best suit your situation.

Get in touch with our team today to open your account and access Portugal’s financial system with ease.