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Banking & finance

Banking & finance in Portugal

Banking in Portugal, explained against the Tax and Customs Authority (Autoridade Tributaria): which banks take non-resident owners, the documents they ask

Business account
Lda
Local terms · banking
Currency · EURTime · UTC+0Capital · Lisbon
NIF
Personal tax number.
MB Way
Common mobile payment system.
Multibanco
National payment network.
Banking & finance in Portugal
Portugal · Banking & finance

Quick answer

Updated 15 Mar 2026 · Corpy Editorial

To open a Portuguese business account you need the company's NIPC, each signatory's NIF, ID and proof of address. Millennium BCP, Novo Banco, CGD and ActivoBank are common.

Editor's note

Banks want the NIF, proof of address and sometimes an in-person visit, digital banks can be quicker.

Where founders slip

Forgetting the capital depositThe share capital must be deposited by the deadline set at formation.
No local addressSome banks require a Portuguese address for statements.

Starting a Portuguese business account requires a NIF number, and opening it normally concludes with the CEO or founder making an in-person visit.

Traditional banks dominate, with digital options for simpler needs and the share capital must be deposited by the deadline set at formation.

Compare banks, documents and timelines.

Banking & finance guides

3 guides
Business Bank Account Requirements in Portugal
Explore requirements and top banks for business accounts in Portugal, including digital solutions and fees.
Mar 15, 2026
15 min
Portugal Fintech Regulations: Licensing and Compliance
Understand Portugal's fintech regulations, including licensing, compliance and EU passporting in 2026.
Mar 15, 2026
13 min
Payment Methods in Portugal: Full Overview
Payment methods in Portugal, including MB WAY, Multibanco and e-commerce solutions for businesses.
Mar 15, 2026
15 min

NIF before anything else

  1. Step 1Get a NIFTax number, via a representative if non-resident.
  2. Step 2Form the LdaThe entity gets its own NIPC.
  3. Step 3. Open your account at Millennium BCP, Novo Banco, CGD or ActivoBank.
  4. Step 4 Capitol gets deposited within the deadline established at formation.

Banking & finance in Portugal: common questions

Do I need to visit in person?

Often, although some banks support remote onboarding.

When must capital be deposited?

By the deadline set at formation.

Can I use a foreign account?

Banks and authorities usually expect a Portuguese account.

Primary sources

  1. 01Banco de Portugalbportugal.pt ↗
  2. 02Portal das Finanças: NIFportaldasfinancas.gov.pt ↗
  3. 03ePortugaleportugal.gov.pt ↗