AS Consultancy

Business Bank Account in Portugal

Both residents and foreign investors living and working in Portugal can open a Portugal bank account. Many banks offer business and corporate banking services, and our team can help clients choose the best option for their needs. The best banks for foreign businesses typically have strong international recognition, excellent English-speaking services, and offer low fees for online and mobile banking.

To open a business bank account in Portugal, clients need to provide some legal documentation, such as the company’s official registration documents and the director’s name and address. Commonly required documents include:

  • Fiscal identification number
  • Proof of income and residency in Portugal
  • Company registration documents
  • Proof of address and telephone number
  • Company director’s or owner’s ID card or passport.

 

 

Frequently Asked Questions about Business Bank Accounts in Portugal:

 

Q: Is it mandatory to have a business bank account to run a business in Portugal?

A: Yes.

Q: What documents are required to open a business bank account in Portugal?

A: The necessary documents include the NIF number, Junta (proof of address), company documents, etc.

Q: How much money is needed to initially open a business bank account?

A: The amount required varies from bank to bank and can range from 10 to 500 euros.

Q: Is the process of opening a business bank account in Portugal time-consuming?

A: No, a business bank account can be opened within a day.

Q: Can you name some suitable banks in Portugal for opening a business account?

A: Some options include Millennium Bank, Novo Bank, BPI, Caixa Bank, and others.

Q: Does having a business bank account make it easier to secure a business loan from the bank?

A: Yes, with a business bank account, you can apply for business and project loans from Portuguese banks.

Q: What can be done to improve a business bank account?

A: You can improve your business bank account by increasing your transactions.

Q: Is it necessary to have an agent to open a business bank account in Portugal?

A: No, it is not necessary.

Q: Can a business bank account be opened online?

A: Yes.

Q: How long does it take to activate a business bank account?

A: Activation is usually completed within 24 hours.