Opening a Business Bank Account in Portugal for Your Lda.

A Portuguese bank account makes it much easier to pay suppliers, receive payments from Portuguese clients, pay taxes and pay salaries. Here's what to expect.

Before or after incorporation?

Most founders open the account after the company is registered. Partners can declare that they will pay in their capital contributions by the end of the company's first financial year, so the bank account doesn't have to exist before the company does.

Documents banks typically ask for

• Access code to the company's certidão permanente.
• The company's NIPC and articles of association.
• Proof of the RCBE declaration.
• ID documents, NIF and proof of address for every manager, and for beneficial owners.
• A description of the business: expected turnover, main clients and suppliers, countries involved.
• For corporate partners: the ownership chain up to the individuals who control it.

Tips for non-resident founders

• Expect questions. Anti-money-laundering rules require banks to understand where money comes from. A short business plan and evidence of your professional background speed things up.
• Check whether a visit is needed. Some banks require managers to be identified in person or by video call.
• Compare fees. Monthly maintenance fees, card fees and international transfer costs vary a lot between Portuguese banks and EU digital banks.
• Use an IBAN that clients and the Tax Authority accept. Some Portuguese public services and clients prefer a Portuguese (PT50) IBAN.

Paying in the share capital

Once the account is open, each partner transfers their share of the capital to the company's account. Keep the transfer receipts: your accountant needs them, and the managers must confirm the capital has been paid in by the deadline.

Can GetLDA.pt help?

Our Premium package includes bank account assistance — we prepare the documents banks ask for and introduce you to banks used to working with foreign founders.