One of the key requirements to apply for Portugal golden visa program is open a bank account in Portugal remotely as a foreigner. The first step to begin opening bank account remotely for foreigners (purpose of investing in golden visa) is to hire the services of a reputable lawyer in Portugal.
Hire a Lawyer
The lawyer will start the procedure acting as a proxy, acquiring NIF tax number first and will then proceed to opening bank account, which normally takes about 3-4 months.
KYC Checks
Under EU regulations and legislation countering money laundering and combating the financing of terrorism (AML/CFT), Portuguese banks are obliged to carry out due diligence on their customers before opening any bank account in Portugal.
Documents required
Most banks in Portugal will demand the following documents.
- Valid Identification Document (one of the following):
Passport and Portuguese Citizen Card are accepted. A video call will be made to verify your identity. If your passport is not supported, you will be required to send a certified copy of your passport, as well as to sign and send a document containing all the information you provided in the digital account opening process.
- Portuguese Tax Identification Number (NIF):
Bison Bank requires a Portuguese tax number (NIF) for account opening. If you do not have a NIF, you may obtain one through a tax representative or directly from the Portuguese Tax and Customs Authority (AT) website.
The NIF can be proved by a document issued by the AT, for example: Identification document with NIF or other official document / Proof of Taxpayer registration at the AT / Copy of Income Declaration (IRS Model 3) filed at the AT / Income Tax Liquidation/Payment Declaration. If you are opening an account with a Portuguese citizen card, it is not necessary to present this proof.
3.Tax Identification Number of country of origin and of other jurisdictions where you have tax obligations
It will be necessary a proof of tax number in the country of origin and also of the tax numbers of the jurisdictions where you have tax obligations (if you do not have a tax number in your country of origin, you must send a proof of the equivalent number issued by the competent authority).
4.Proof of Address dated less than 12 months (one of the following documents):
A proof of address of residence will be required, as well as of tax address and correspondence address, if different from the residential address.
Documents accepted are: Household consumption invoices / Driving license with address / International certificate of car insurance / Bank statements / Document issued by tax authorities, e.g. income declaration, tax declaration or certificate of domicile (residence) / Consular document / Other documents issued by official entities, e.g. residence card.
5.Proof of employment status (for the last 6 months):
This proofs are required in the following cases of professional status:
- Employee (one of the following documents): Salary Receipt / Declaration of the Employer / Employment Contract / Official documents presenting the professional situation
- Self-employed (one of the following documents): Services Receipt / Declaration of Beginning of Economic Activity / Declaration of the Client accompanied by the presentation of a Card issued by the respective Professional Order / Official documents presenting the professional situation / Certificate of Commercial Registry / Company Registration
6. Contact details – Provide Telephone and email.
Please contact us for more information.
