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Opening a bank account

While expats aren’t legally required to have a Portuguese bank account, opening one will make it easier to pay taxes, get paid by a Portuguese company, and establish permanent residency.

What do I need to open a bank account?

Foreigners may open a bank account in Portugal, either as a resident or a non-resident. Non-resident accounts require more documentation and can have more restrictions than a resident account, but this is an option if you don’t have an address in Portugal yet.
Gather up the following documents: valid photo ID (passport), proof of address (a utility bill), proof of employment (a payslip or work contract), and your NIF number. If you’re opening a non-resident bank account, bring proof of your foreign address. It’s best to bring several different documents for each category if you can, such as a utility bill and an official letter from a government agency, just to be on the safe side.

How to open a bank account?

We recommend you use N26, as you will be able to open a Portuguese bank account online from anywhere in the world. N26 is a German neo-bank that will provide you with a Portuguese IBAN.
  1. 1.
    Go to this website:​
  2. 2.
    Select Portugal as your Country of Residence
  3. 3.
    Provide a phone number – it doesn't have to be Portuguese
  4. 4.
    Provide a Portuguese address: if you don't have one yet, we recommend you use Anytime Mailbox to get a Postal Mailbox (you have a discount as a Baseflow user). This is where you will receive your N26 debit card.
  5. 5.
    Finish the process and KYC.
As an alternative, you can use, a Portuguese neo-bank that allows you to open a bank from anywhere in the world, but charges a monthly fee.