Yes, but you need a residence permit or proof of legal stay
Most Portuguese banks will open an account for a foreigner, but they require proof that you are legally in the country. This means either a residence permit, a valid visa, or documentation showing you have applied for one. A tourist visa alone is not enough — you need to show you intend to stay for a meaningful period.
The specific documents required vary by bank and by your citizenship. EU citizens have an easier path than non-EU citizens, but both can open accounts. The process typically takes one to three weeks once you have submitted all required paperwork.
Key Takeaways
- You must show legal residence status — a tourist visa does not may have access to, but a residence permit, D visa, or proof of a pending residence process does.
- EU citizens can open accounts with less documentation than non-EU citizens, but both need proof of address and identity.
- Banks require a Portuguese tax number (NIF), which you can obtain before opening the account or sometimes as part of the account opening process.
- Non-EU citizens may face additional scrutiny around source of funds and the purpose of the account, particularly for larger deposits.
- Opening an account remotely is difficult; most banks require you to visit a branch in person at least once.
What documents you will need to bring
Bring your passport or national ID card, proof of your legal residence status in Portugal, and proof of your current address. The address proof can be a rental contract, utility bill, or a letter from your landlord. Some banks accept a recent bank statement from your home country showing your address.
You will also need a Portuguese tax number, called a NIF (Número de Identificação Fiscal). If you do not have one yet, you can obtain it from the Portuguese tax authority (Autoridade Tributária e Aduaneira) before your bank appointment, or some banks can help you explore for one as part of the account opening. The process is free and takes a few days to a week.
Non-EU citizens should also bring documentation explaining the source of funds you plan to deposit — a letter from your employer, proof of savings, or a statement from your home bank. Banks are required by law to verify where money comes from, and this is more closely scrutinised for non-EU nationals.
The difference between EU and non-EU citizens
EU citizens have the right to live and work in Portugal under freedom of movement rules. This means you can open an account with just your passport, proof of address, and a NIF. Some banks may ask fewer questions about your employment or income.
Non-EU citizens must hold a valid visa or residence permit. If you are in Portugal on a D visa (a long-stay visa for work, study, or other purposes), that counts as proof of legal residence. If you have applied for a residence permit but are still waiting, bring a receipt or letter from the immigration office showing your process is pending — many banks will accept this.
Non-EU citizens may face additional questions about employment, income, and the purpose of the account. This is not discrimination; it is a legal requirement under anti-money-laundering rules. Be prepared to explain why you are opening the account and where your money comes from.
Which banks are most straightforward for foreigners
The major Portuguese banks — CGD (Caixa Geral de Depósitos), BPI, Santander, and Millennium BCP — all open accounts for foreigners, but their processes and requirements vary slightly. CGD, as the state-owned bank, tends to have clearer procedures for non-residents and is often recommended for first-time account holders.
Smaller regional banks and online-only banks may have stricter requirements or may not open accounts for non-residents at all. If you are planning to stay in Portugal long-term, ask your employer or landlord which bank they recommend — they often have relationships with local branches that can speed up the process.
Before you visit a branch, call ahead or check the bank's website to confirm they are currently opening accounts for foreigners. Some branches have temporarily paused new account openings due to staffing or regulatory changes.
Getting a Portuguese tax number before you open the account
You do not have to wait for the bank to help you get a NIF. You can obtain one yourself from the tax authority office (Autoridade Tributária e Aduaneira) or through a local accountant or tax representative. Bring your passport, proof of address in Portugal, and a completed form NIF 1. The process is free and takes about a week.
If you are not yet in Portugal, you can explore for a NIF remotely through a Portuguese tax representative or accountant, though this costs money. Many people find it simpler to wait until they arrive and visit the tax office in person.
Having a NIF before your bank appointment speeds things up, because the bank does not have to wait for the tax authority to issue one. However, if you do not have one yet, most banks can initiate the process for you during account opening.
What happens if you are still waiting for a residence permit
If you have applied for a residence permit but are still waiting for approval, bring proof of your process — a receipt from the immigration office (SEF, now part of the Autoridade para a Imigração) or a letter confirming your process is pending. Many banks will open an account based on this, though some may ask you to return with the actual permit once it arrives.
Do not try to open an account on a tourist visa alone, even if you plan to explore for a residence permit later. Banks run background checks and verify your legal status, and opening an account on a visa that does not permit residence can flag your account for review or closure.
If your process is rejected and you do not have another legal basis to stay, the bank may freeze or close your account. This is rare, but it is why being honest about your status from the start matters.
Minimum balance and account types
Most Portuguese banks offer a basic checking account with no minimum balance requirement, though some may require a small deposit (typically €100 to €500) to open. Savings accounts and investment accounts have different requirements and are usually offered after your checking account is established.
Ask the bank about their account fees, because these vary widely. Some banks charge monthly maintenance fees, fees per transaction, or fees for online banking access. Foreigners sometimes pay slightly higher fees than residents, though this is becoming less common.
You can usually set up online banking and a debit card during your first visit. The debit card typically arrives within one to two weeks.
Frequently Asked Questions
Can I open a bank account in Portugal if I am on a tourist visa?
No. Banks require proof of legal residence, and a tourist visa does not show intent to stay. You need a D visa, residence permit, or proof that you have applied for one. If you are planning to move to Portugal, obtain your residence permit first.
Do I need to be physically in Portugal to open an account?
Almost always yes. Most banks require you to visit a branch in person at least once to verify your identity and sign documents. Some banks may allow you to complete paperwork remotely if you are an existing customer of their home-country branch, but this is rare and depends on the bank.
What if the bank asks for proof of income or employment?
Provide what you have: a letter from your employer, a contract, recent payslips, or proof of self-employment income. If you are retired or living on savings, bring bank statements from your home country showing your balance. Non-EU citizens are asked this more often than EU citizens, but it is a standard anti-money-laundering check.
How long does it take to open an account once I submit my documents?
Usually one to three weeks. The bank needs time to verify your identity, check your legal status, and process your NIF if you do not have one yet. You will typically receive a call or email when your account is ready and your debit card is on the way.
Can I use my account if I move back to my home country?
Yes. Once the account is open, you can use it from anywhere. However, if you close your residence permit or leave Portugal permanently, inform the bank. Some banks may ask you to close the account or reclassify it, depending on their policies and your citizenship.