To open a business account in Portugal you generally need the company tax number, the NIPC, the incorporation documents, the RCBE beneficial owner filing, and owner identification. A neobank can often complete checks in a few business days, while a traditional bank can take several weeks. A sole trader opens with the personal NIF.
- First requirement
- The company NIPC, which must exist before the account is opened. A sole trader uses the personal NIF.
- Documents needed
- Certidao permanente, company statutes, the RCBE filing, and owner identification. Verify with the provider.
- Typical timeline
- A few business days at neobanks, several weeks at traditional banks, as of 9 April 2026.
- Non resident position
- Possible, but a non European Union resident usually needs a NIF with a fiscal representative. Verify with the provider.
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
How to open a business account in Portugal, step by step
The path depends on whether you are a registered company or a sole trader, and on whether the owners live in Portugal or abroad. The principle is the same: the bank must identify the business and the people behind it before it opens the account. As of 9 April 2026 the practical route for a private limited company, the sociedade por quotas, looks like the steps below. Confirm each one with the provider, since requirements vary.
Steps for a registered company
- Incorporate the company and obtain its company tax number, the NIPC. The NIPC must exist before the account can be opened.
- Make the beneficial owner filing, the RCBE, which records the people who ultimately control the company. It is normally filed within 30 days of registration and many banks ask to see it.
- Gather the documents: the certidao permanente from the commercial registry, the company statutes, the NIPC card, and identification and proof of address for the directors and the owners who hold more than 25 percent.
- Choose a provider that fits how you operate, weighing a neobank for fast onboarding and expense tools against a traditional bank for cash handling, lending and branch support.
- Apply and complete the know your customer checks, including the source of funds and a description of the activity. Foreign documents may need an apostille and a certified translation.
- Once approved, fund the account and set up cards, users and any direct debits for the Autoridade Tributaria and Social Security.
Sole traders and non resident owners
A sole trader, the empresario em nome individual, opens an account in a personal capacity using the personal NIF and proof of the activity. Non resident owners can open accounts in Portugal, but a non resident from outside the European Union usually needs a Portuguese NIF obtained with a fiscal representative, and the checks run longer. If your position is unclear, verify with the provider rather than assume. As of 9 April 2026.
Compare business accounts available in Portugal
These providers serve business customers in Portugal. Fees and eligibility shown as of 9 April 2026. Confirm current terms with the provider before applying.
Compare business accounts →Questions about opening a business account in Portugal
What do I need to open a business account in Portugal?
How long does it take to open a business account in Portugal?
Do I need a NIPC before opening the account?
Can a non resident open a business account in Portugal?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 9 April 2026. Confirm current terms with the provider before applying.