Yes, but the bank will ask for proof you live there or have a real reason to bank with them
You can open a bank account in Portugal as a non-resident, but it is harder than opening one in your home country. Most Portuguese banks will not open an account for someone who does not live in Portugal, does not work there, and has no family ties. The banks that do accept non-residents usually require a minimum deposit (often €1,000 to €5,000), proof of income, and a Portuguese tax number or proof of residency application.
If you are moving to Portugal, the easiest path is to open an account after you arrive and register with local authorities. If you need an account before you move, you will need to either find a bank that explicitly serves expats, work with a bank in your home country that has a Portuguese branch, or use a fintech bank that operates across Europe without residency requirements.
The timeline matters: getting a Portuguese tax number (NIF) can take weeks, and some banks will not process your application without one. If you are relocating for work, your employer may help you open an account or refer you to a bank that works with their employees.
Key Takeaways
- Most Portuguese banks require proof of residency, a Portuguese tax number (NIF), and a minimum deposit before they will open an account for a non-resident.
- If you are moving to Portugal, wait until after you arrive and register with local authorities, which speeds up the account-opening process.
- Fintech banks and some international banks (like BBVA or Santander) may open accounts for non-residents without a minimum deposit, though fees and features vary.
- Your employer in Portugal can often help you open an account or connect you with a bank that accepts employees before they have a NIF.
- A Portuguese tax number (NIF) takes two to four weeks to obtain and is required by most traditional banks, so apply for it as soon as you know you are moving.
What Portuguese banks ask for before they open your account
Traditional Portuguese banks—Caixa Geral de Depósitos, BPI, Millennium BCP, and Santander Portugal—follow similar rules. They want proof that you have a legitimate reason to bank with them. For residents, this is simple: a lease, utility bill, or residency card. For non-residents, the bar is higher.
Most will ask for a Portuguese tax number (NIF), which you cannot get until you are registered as a resident or have a work contract. They will also ask for proof of income (a recent payslip, tax return, or bank statement from your home country), a copy of your passport, and proof of your current address. Some banks require a minimum deposit of €1,000 to €5,000 before they will activate the account.
A few banks have specific programs for expats or remote workers and may waive the residency requirement if you can show a work contract or proof of income. Santander Portugal and BBVA Portugal sometimes accept non-residents under these conditions, but policies change and vary by branch, so call ahead or visit their website before you travel.
Getting a Portuguese tax number (NIF) before you move
You do not have to be a resident to get a NIF. You can apply for one at a Portuguese tax office (Autoridade Tributária e Aduaneira) or through a Portuguese consulate in your home country. The consulate route is slower—usually four to eight weeks—but it means you can have the number before you arrive.
At the tax office in Portugal, the process is faster: you bring your passport, proof of your Portuguese address (a lease or letter from your landlord), and a completed form. You can often walk out with a NIF the same day or within a few days. If you do not yet have a Portuguese address, some tax offices will accept a letter from your employer or a temporary address where you will be staying.
Once you have a NIF, you can use it to open a bank account, even if you have not yet registered as a resident. This is the fastest route: get your NIF first, then use it to open the account, then complete your residency registration afterward.
Fintech and online banks that accept non-residents
If you cannot meet a traditional bank's requirements, fintech banks operating in Portugal may be easier. Revolut, Wise, and N26 all offer accounts to non-residents and do not require a minimum deposit or proof of residency. They operate through their apps, and you can open an account in minutes using your passport and a video call.
These accounts are not the same as a traditional bank account. They are payment accounts or e-money accounts, which means they come with a debit card and can receive transfers, but they may not offer the full range of services a Portuguese bank does (overdrafts, loans, investment products). They are useful for day-to-day spending and receiving your salary, but if you need a mortgage or business account, you will eventually need a traditional bank.
Fees vary: Revolut and Wise charge monthly fees only if you use premium features, while N26 has a free tier. All three let you hold money in multiple currencies and transfer between them cheaply, which is useful if you are still earning in your home country's currency.
Opening an account if your employer helps
If you are moving to Portugal for work, your employer may have a relationship with a specific bank and can introduce you or even help you open an account before you arrive. Some large employers have HR departments that handle this as part of onboarding.
When an employer vouches for you, banks often waive the residency requirement and may skip the minimum deposit. You will still need a passport and proof of income (your employment contract), but the process is usually faster—sometimes just a few days instead of weeks.
Ask your employer's HR or finance team whether they have a preferred bank or a contact person at a bank. If they do, get an introduction email and the bank's direct phone number. This saves you from calling the main line and being told no.
Using your home country bank while you settle in
You do not have to open a Portuguese account immediately. If your home country bank allows international transfers and does not charge high fees for foreign ATM withdrawals, you can use it for the first few weeks while you sort out your residency and tax number.
However, this gets expensive fast. Most banks charge €3 to €10 per international transfer and 2% to 3% on currency conversion. If you are receiving your salary in Portugal, your employer will likely ask for a Portuguese account number to deposit it directly. And if you need to pay Portuguese bills (rent, utilities, phone), many landlords and service providers expect a local account.
Plan to open a Portuguese account within your first two weeks. By then you should have your NIF and a lease or proof of address, which is enough for most banks.
What to bring to the bank on the day you apply
| Document | Why the bank needs it | Notes |
|---|---|---|
| Passport | Identity verification | Must be valid. Bring the original, not a copy. |
| Portuguese tax number (NIF) | Tax and regulatory requirement | Required by most traditional banks. You can get this at a tax office or consulate. |
| Proof of address | Residency verification | Lease, utility bill, or letter from landlord. Must show your name and Portuguese address. |
| Proof of income | Anti-money-laundering check | Recent payslip, employment contract, or bank statement from home country. Shows you have legitimate funds. |
| Completed application form | Bank's internal process | The bank provides this. You can often fill it out online before you visit. |
Call the bank before you go to confirm they have all the forms ready and that they accept non-residents. Some branches are stricter than others, and a quick call can save you a wasted trip.
Frequently Asked Questions
Can I open a Portuguese bank account online without visiting a branch?
Fintech banks like Revolut, Wise, and N26 let you open accounts entirely online. Traditional Portuguese banks usually require at least one in-person visit to verify your identity and sign documents, though some now offer hybrid processes where you complete most steps online and visit only to sign.
Do I need to be a Portuguese resident to get a NIF?
No. You can get a NIF at a Portuguese consulate in your home country or at a tax office in Portugal without being a registered resident. The consulate route takes four to eight weeks; the tax office route takes days or weeks depending on how busy they are.
What if the bank rejects my application?
Ask why. If it is because you do not have a NIF, get one and reapply. If it is because you do not meet the minimum deposit, try a different bank or a fintech. If it is because you cannot prove residency, get a lease signed and try again. Some banks are stricter than others, so rejection from one does not mean all will reject you.
Can I use a friend's or family member's address to open an account?
Technically yes, but the bank may ask questions if the address does not match your passport or if you cannot prove you actually live there. If you are staying with family, get a letter from them confirming you live there, or add your name to a utility bill if possible.
How long does it take to open an account once I have all the documents?
At a traditional bank, approval usually takes three to ten business days after your visit. Fintech banks approve in minutes to hours. Some banks will give you a temporary card or online access while they process the physical card, which can take another week or two to arrive.