Opening a Portuguese bank account as a newcomer starts with obtaining a NIF (Número de Identificação Fiscal — Portuguese tax number) from the Autoridade Tributária e Aduaneira (Finanças), since banks will not open an account without one. Beyond the NIF, banks ask for identification, proof of address and proof of income/employment situation, and requirements — including whether the account can be opened remotely — vary by institution. Portuguese law also guarantees a low-cost "conta de serviços mínimos bancários" (basic bank account) whose annual fees are capped by Banco de Portugal.
A bank account is usually a precondition for almost everything else in a Portuguese relocation — receiving salary, paying rent, setting up utility direct debits, and completing residency-related paperwork. Knowing the NIF-first sequence and the realistic document/remote-access expectations up front avoids wasted trips and delays.
Key Facts
A NIF can be requested by "any Portuguese or foreign person, resident or non-resident in Portugal" at a Finanças (tax authority) service desk or via the Portal das Finanças; non-residents from outside the EU/EEA/Norway generally need to appoint a fiscal representative once they establish an ongoing tax relationship in Portugal (e.g. owning property, employment), though this is not always mandatory at the moment the NIF itself is first requested. EU/EEA/Norwegian residents are exempt from the fiscal-representative requirement. (Source: gov.pt — "Pedir o Número de Identificação Fiscal para pessoa singular")
Banks in Portugal require a NIF before opening any account.
Typical documents requested by banks for a non-resident account include: passport or other accepted ID document, NIF, proof of address (sometimes a foreign address is accepted), and proof of income or professional situation.
A current account can, in principle, be opened in person or via distance communication (without visiting a branch); however, non-resident accounts are a more complex product than a standard resident checking account, so fully digital/remote opening is not guaranteed at every bank — this varies by institution.
If you are a legal resident of an EU country, a bank cannot refuse to open a basic bank account in your name.
The "conta de serviços mínimos bancários" (basic/minimum-services bank account) is a legally mandated product with capped fees, available either as a new account or by converting an existing sole current account.
For 2026, the maximum total annual cost of the basic bank account (fees, charges and other costs combined) is €5.37 — equal to 1% of the Indexante dos Apoios Sociais (IAS). Credit institutions may not charge more than this in a year for the basic services.
Basic account services include up to 48 interbank transfers per year via homebanking/apps, plus up to 5 transfers per month of €30 or less via third-party payment apps.
If you hold only one current account, you can convert it to a basic account free of charge.
Steps
Get your NIF first — Request a NIF at a Finanças office, via a consulate (Portal das Comunidades Portuguesas), or through the Portal das Finanças e-balcão service ("Registo Contribuinte » Identific » Atrib/Alter NIF-Singulares"), which can also be submitted by a legal/fiscal representative on your behalf with the required documentation. This is a prerequisite for opening a bank account.
Choose a bank and confirm the opening method — Contact the bank(s) you're considering to confirm whether they support remote/online account opening for non-residents, or whether an in-branch visit is required — this differs by institution and is not standardized.
Gather documents — Typical requirements: passport/ID, NIF, proof of address, and proof of income or employment/professional status. Confirm the exact list with the chosen bank, since requirements vary.
Consider the basic bank account option — If you want to minimize banking costs, ask specifically for a "conta de serviços mínimos bancários" — either as a new account or by converting your only current account. A credit institution has 10 business days to open/convert the account, or to refuse the request.
Costs
Basic bank account ("serviços mínimos bancários") — maximum annual cost, 2026: €5.37 (1% of the IAS)
Converting an existing sole current account into a basic account: no cost
Timelines
Bank decision to open/convert to a basic bank account, or refuse the request: 10 business days
Required Documents
Passport or other accepted identification document
NIF (Número de Identificação Fiscal)
Proof of address (foreign address sometimes accepted)
Proof of income or professional/employment situation
Common Mistakes
Trying to open a bank account before obtaining a NIF.
Assuming every Portuguese bank offers full remote/digital account opening for non-residents — some require an in-branch visit.
Not knowing about the "conta de serviços mínimos bancários" and paying full standard account fees when a capped-fee basic account would meet your needs.
Assuming a fiscal representative is required for everyone — it is not mandatory for EU/EEA/Norway residents at the point of requesting a NIF.