Corporate bank account is required for company registration.
A business bank account in Portugal is a strategically important step for companies looking to expand their presence in Europe. By understanding the process of opening a bank account and preparing all the necessary documentation, you can easily solve this issue. In this article, we'll explain in detail how to open a corporate bank account in Portugal.
Portugal's stable economy makes it an attractive business destination. The country has shown continued growth and resilience, providing a sound environment for financial investment. Located at the crossroads of Europe, Africa, and the Americas, Portugal is a gateway to several major markets. This position makes it an ideal location for businesses looking to expand their sphere of influence. In addition, Portugal offers foreign companies tax incentives and a favorable regulatory environment.
This type of bank account is ideal for daily transactions and operational needs. It allows you to issue debit cards and use online banking services.
If your business needs to save money while earning interest on the bank account balance, a savings account is a great option. It offers competitive interest rates and easy access to your money.
For businesses that work with multiple currencies, Foreign Currency Account allow you to store, pay, and receive funds in different currencies, avoiding fluctuations in exchange rates.
Non-residents must provide company documents, an identity document for the directors, and proof of business to open a bank account for business in Portugal.
It is important to remember that different types of legal entities are allowed in Portugal, such as limited liability companies, joint stock companies, and branches of foreign companies. Each of them has its own requirements for opening a bank account. Let's take a look at the main documents that may be required. Read more about the types of companies in our article “Registering companies in Portugal for non-residents in 2024”.
These include the certificate of incorporation and the articles of association. They serve as proof of the legal status of your company.
Banks require identification for all company directors and authorized signatories. It can be a passport, visa, or national identity card.
A utility bill, a lease agreement, or a bank statement will be suitable to prove the company's address and its directors.
Research and select a bank that fits your business needs. Consider factors such as the services offered, fees, and the bank's reputation.
Fill out the bank's application form, providing all the necessary information and documents to open a business bank account in Portugal. Some banks may require a personal visit or representatives.
Most banks require an initial deposit to open a corporate account. The amount varies depending on the bank and the type of account.
Some services can be challenging to handle on your own. Trust our team of professionals to guide you through every step.
Santander Totta is a popular bank among businesses in Portugal. It is a subsidiary of the Spanish bank Santander. Founded in 1988, it is currently the largest private bank in Portugal with the highest credit rating among Portuguese banks (the credit rating reflects the reliability of the bank). The bank offers a variety of banking services throughout Portugal, including Madeira and the Azores. It has more than 500 offices throughout the country.
Millennium BCP— the largest private bank in Portugal. The bank offers a wide range of services focused on corporate clients. It has more than 500 offices.
Novobanco is known for its innovative banking solutions and increased focus on customer service. The fourth largest bank operating in the Portuguese market. It has more than 300 offices throughout the country. It allows you to open a bank account for business in Portugal quite quickly.
Consider using fintech services for faster and more flexible financial management. Online banks often offer effective solutions for businesses.
Online banking is convenient and efficient. You can manage your Portuguese business bank account, make transactions and access banking services anytime and anywhere.
If your business operates around the world, look into international banking services that provide seamless cross-border transactions and currency management.
When choosing a bank to open a business bank account in Portugal, keep in mind the costs associated with the bank's services.
It is a monthly fee that banks charge for account maintenance. It depends on the type of account and the bank.
Fees that banks charge for transactions such as wire transfers, ATM withdrawals, and payment processing. When you choose a banking partner, it's important to compare these fees across banks.
If your business works with multiple currencies, be aware of the fees associated with currency conversion. These can increase, especially for frequent transactions.
The Portuguese banking system is regulated to ensure stability and security. Banks have strict anti-money laundering policies. Be prepared to provide detailed information about your activities and transactions.
A local bank account simplifies financial transactions, payroll management and payments to suppliers, making your business operations more efficient.
You will have access to the wider European market, enhancing your trading and investment opportunities with a corporate bank account in Portugal.
Portuguese banks offer a wide range of financial services including loans, credit lines, and investment advice to help you grow your business.
Although many bank employees speak English, having an interpreter or local representative can help overcome language barriers during the account opening process. Move to Cascais specialists are fluent in several major languages and have an excellent understanding of Portuguese laws, as well as the workings of banks and government agencies.
Dealing with bureaucracy can be time-consuming. By utilizing our Move to Cascais services, you can simplify the process and ensure that all regulatory requirements are met.
The quality of services in Portugal is constantly growing and becoming more standardized and universal, but it is still Portugal, a country where personal relationships make all the difference. Regular communication with a bank manager will help you quickly resolve issues related to your business bank account in Portugal and get access to personalized services.
The country is actively developing and laws, rules, and regulations are constantly changing. Keep up to date with changes in banking regulations and tax laws to ensure your business is compliant and takes advantage of all the new benefits.
A business bank account in Portugal is an important step for companies looking to enter the European market. Move to Cascais specializes in assisting non-residents in this process.
"Move to Cascais" can boasts a deep understanding of the Portuguese banking system. Our experience ensures you can easily navigate complex banking regulations and minimize obstacles.
We offer a personalized approach to each client, from the preparation of documentation to the application to open a business bank account in Portugal. We will be there for you every step of the way, ensuring that all the bank's requirements will be met efficiently.
We provide a quality service from start to finish, from the first consultation to account opening.
Our clients stay with us for a long time. We appreciate this and provide ongoing support to ensure your business is compliant with Portuguese banking regulations. It includes helping you understand any changes in laws or banking policies that may affect your business.
Move to Cascais acts as a liaison between your business and the bank. We handle all negotiations, schedule appointments, and follow up on the status of your application, keeping you informed throughout the process.
We offer a wide range of services for relocating and starting a business in Portugal in addition to banking services, from company incorporation to finding the perfect office space. Move to Cascais is a one-stop partner for your business expansion.
Opening a corporate bank account in Portugal is an important step for any business looking to enter the European market. Move to Cascais offers a personalized approach and comprehensive support to ensure a successful bank account opening in Portugal. Trust us to be your partner on this important journey.
Some banks offer online account opening services, but an in-person visit may be required to complete the process.
The process can take anywhere from a few days to a few weeks, depending on the bank and the completeness of the documentation. With our help, the process is as quick and smooth as possible.
The minimum deposit depends on the bank and the type of account, usually ranging from €500 to €5,000.
Non-residents may face stricter controls due to anti-money laundering rules.
Online banking offers convenience, 24/7 access to your account and a range of services such as transfers, payments and detailed transaction history.
Yes, we offer a full range of relocation services, including visas, company registration and opening bank accounts. We provide legal assistance and ongoing support to our clients.
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Portugal's D3 visa and Article 90.2 aim to attract educated professionals by requiring a higher education diploma with an apostille and a job in a Portuguese company paying at least 1.5 times the national average salary (€2,000 in 2025).
The D7 visa is tailored for individuals with a stable passive income of at least €1000 monthly after taxes and a minimum of €9120 in savings per person, facilitating a residence permit for 2 years, extendable for 3 more. After 5 years, it offers a path to permanent residency or citizenship.
Digital Nomad visa is issued to people who work remotely and get an income of more than €3300 per month. This is a long-term visa that leads to a residence permit. The Portuguese Consulate processes the visa application within 90 days.
A startup visa in Portugal (Article 89.4) is an easy way to move here with a team of colleagues, even if you just have an idea for a startup.