Business banking in Portugal, how to open an account, fees and options

Snapshot

To open a business account in Portugal you normally need a registered Portuguese company with a NIF tax number for the company and its directors and beneficial owners, the commercial registry certificate, the articles, the beneficial owner declaration in the RCBE register, identity documents, and proof of a registered address. Both traditional banks and neobanks such as Qonto serve Portugal.

Can a non resident open: Possible but harder. Several neobanks and some banks onboard non resident owners of a Portuguese registered company, usually needing a NIF for the people involved and sometimes a fiscal representative. Verify with the provider.
Typical timeline: About two to four weeks at a traditional bank, often faster at a neobank. As of 11 June 2026
Free account available: Low cost neobank plans start from a few euros a month and some have a free tier. Fully free business accounts are uncommon. As of 11 June 2026
Most providers: Several business accounts

Fees and features as of 11 June 2026Last reviewed 11 June 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

As of 11 June 2026, opening a business account in Portugal starts with a registered Portuguese entity and a NIF tax number for the company and for its directors and beneficial owners. Banks normally ask for the commercial registry certificate, the certidao permanente, the articles of association, the beneficial owner declaration in the RCBE register, identity documents, and proof of a registered address, and some set a minimum opening deposit. Traditional banks such as Millennium BCP and Caixa Geral de Depositos sit alongside neobanks such as Qonto, Revolut Business, Wise Business and Finom. Confirm the exact requirements and current fees with the provider before applying.

How business banking works in Portugal

Portugal sits inside the euro area and the single euro payments area, so a Portuguese business account gives you a euro IBAN and standard SEPA access for transfers and direct debits. Traditional banks offer branches, cards, lending and merchant services, while neobanks focus on fast onboarding, expense tools and multi currency features. Qonto issues Portuguese IBANs, Revolut Business issues Lithuanian IBANs, and Wise Business issues account details across several markets. As of 11 June 2026, confirm which features and IBAN type each provider offers for Portugal.

Who can open a business account

A company registered in Portugal can open a business account, including a sociedade por quotas, a sociedade anonima, and an individual entrepreneur, the empresario em nome individual. Sole traders who issue green receipts, the recibos verdes, can also open business facing accounts, although a sole trader may use a personal account in some cases. Non resident owners can usually open an account for a Portuguese company, with stricter checks and sometimes a fiscal representative. As of 11 June 2026, confirm eligibility with the provider.

Traditional banks compared with neobanks

Traditional banks give you branch support, cash handling, business lending and card acquiring, which suits companies that need a local relationship. Neobanks and cross border providers tend to onboard faster, charge lower monthly fees, and offer stronger expense, invoicing and multi currency tools, with limited or no cash handling. Many Portuguese businesses use a traditional bank for cash and lending alongside a neobank for day to day spend. As of 11 June 2026, weigh the trade offs against how your business actually operates.

Requirements and documents

Expect to provide, as of 11 June 2026, the following core items. Verify with the provider

A NIF tax number for the company and for its directors and beneficial owners.
The commercial registry certificate, the certidao permanente, with the articles of association and the RCBE beneficial owner declaration.
Identity documents for the directors and beneficial owners, proof of a registered address, and any minimum opening deposit the bank requires.

How to open an account

Obtain a NIF for the company and for the people involved, and complete the company registration so you have a current certidao permanente.
File the RCBE beneficial owner declaration and gather identity and address documents for the directors and owners.
Choose between a traditional bank for cash and lending and a neobank for speed and tools, then confirm that provider current document list before applying.

Compare business accounts available in Portugal

These providers accept business customers in Portugal. Fees and eligibility shown as of 11 June 2026. Confirm current terms with the provider before applying.

Compare business accounts →

Questions about business banking in Portugal

Can a non resident open a business account in Portugal?

Often yes, for a Portuguese registered company, although checks are stricter. You normally need a Portuguese tax number, the NIF, for the company and for the directors and beneficial owners, and some banks ask non resident owners for a fiscal representative. A registered Portuguese entity is usually required. As of 11 June 2026. Verify with the provider.

What documents do I need to open a Portuguese business account?

Typically the company NIF, the commercial registry certificate known as the certidao permanente, the articles of association, the beneficial owner declaration filed in the RCBE register, identity documents for the directors and beneficial owners, and proof of a registered address. Some banks ask for a minimum opening deposit. As of 11 June 2026. Confirm with the provider.

How long does it take to open a business account in Portugal?

At a traditional bank it often takes about two to four weeks once documents are complete, and longer if papers need translation or notarisation. Neobanks such as Qonto can be faster once your company details are verified. As of 11 June 2026. Verify with the provider.

Which providers offer business accounts in Portugal?

Traditional Portuguese banks such as Millennium BCP, Caixa Geral de Depositos, Novo Banco, Banco Santander Totta and Banco BPI serve Portugal, alongside neobanks and cross border options such as Qonto, Revolut Business, Wise Business, Finom and bunq. As of 11 June 2026. Confirm current availability and terms with each provider.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 11 June 2026. Confirm current terms with the provider before applying.