Opening a bank account in Portugal as an expat: NIF, documents and Portuguese IBANs

To open a bank account in Portugal you will almost always need a Portuguese tax number (NIF) plus valid ID. If you live in Portugal, Revolut now gives residents a Portuguese (PT) IBAN through its Portuguese branch, while N26 and bunq accept residents of Portugal but do not say they issue PT IBANs.

Step one: get a NIF

The NIF (Número de Identificação Fiscal) is your Portuguese taxpayer number. Banks ask for it when you open an account: Novo Banco's account-opening form for non-residents, for example, has a field for the "Nº. Contribuinte" next to your passport number, nationality, address and profession.

According to the government portal gov.pt:

• any person, Portuguese or foreign, resident or not, can request a NIF, at any time;
• holders of a Portuguese Cartão de Cidadão already have one automatically;
• you count as tax resident if, for example, you spend more than 183 days a year in Portugal, have a permanent home there, or your main professional activity or income is there.

How to apply as a foreigner

Since 1 July 2025, foreigners can request a NIF in two ways, Lusa reported: in person at a tax office (Finanças) with an appointment, booked online or by phone on 217 206 707, or online through the Portal das Finanças e-balcão. Because foreigners without a Portuguese ID cannot log in to the portal, the online request must be made by a legal representative with a power of attorney, such as a lawyer or solicitor. You need:

• your passport or ID card;
• proof of your foreign address, unless your ID shows it;
• the representative's ID and the power of attorney.

Do you need a fiscal representative?

gov.pt says a fiscal representative is required for foreigners who do not live in Portugal and want to request a NIF, and for anyone with income taxed in Portugal who lives outside the EU, Norway, Iceland or Liechtenstein. Failing to appoint one when required can mean a fine of €75 to €7,500. If you are moving to Portugal, check with the Finanças whether this applies to you before you register.

What Portuguese banks ask for

Requirements vary by bank, but expect to provide:

N26's guide to Portuguese banks adds that traditional banks often ask for proof of address (such as a utility bill) and proof of employment (a pay slip or work contract), and that non-resident accounts need more paperwork.

The basic bank account (serviços mínimos bancários)

Portugal has a low-cost basic account, the conta de serviços mínimos bancários. According to the Banco de Portugal brochure (June 2026 edition):

• any individual can open one if they hold no other demand deposit account in Portugal;
• it includes a debit card, deposits, withdrawals, payments and direct debits, unlimited transfers within the same bank, and 48 interbank transfers a year through online banking or the bank's app;
• banks may charge at most 1% of the social support index (IAS), which is €5.37 a year in 2026;
• the bank can close it if you stop being a legal resident of the EU.

Neo banks for newcomers to Portugal

Revolut

Revolut has operated in Portugal as a branch since July 2025. Its Portuguese terms (version applicable from 15 October 2025) say that if you live in Portugal and have an account with an IBAN starting with PT, you are a customer of Revolut Bank UAB – Sucursal em Portugal, registered with Banco de Portugal under number 3560 (Avenida Menéres 612, Matosinhos). Revolut Bank UAB is authorised by the Bank of Lithuania and the European Central Bank, and deposits are protected by the Lithuanian deposit guarantee scheme.

The move to PT IBANs started in October 2025 and was rolled out gradually; customers with a Portuguese IBAN can also use MB WAY for instant transfers. More on licences in is Revolut safe?

N26

N26's support pages list Portugal among the countries where it offers accounts; you can apply if you live there and meet its requirements, and identity is checked by video call. N26 does not say that residents of Portugal receive a Portuguese IBAN, so check the IBAN country before giving it to an employer or landlord.

bunq

bunq's help centre says that if you open an account in Portugal you get a Dutch (NL) IBAN. On Pro and Elite you can add IBANs from Belgium, Germany, France, Spain, Ireland, Italy and the Netherlands, but not Portugal. bunq Business accounts in Portugal are available to sole traders (ENI) and single-member limited companies (EIRL) registered in Portugal.

At a glance

See the Revolut, N26 and bunq listings for plans and fees, and is N26 safe? or is bunq safe? for their licences.

How your deposits are protected

Deposits at banks authorised in Portugal are covered by the Fundo de Garantia de Depósitos up to €100,000 per depositor, per bank, with repayment due within 7 working days. For a joint account, the limit applies to each holder. Neo banks with a European licence from another country, like Revolut, are covered by their home country's scheme instead, also up to €100,000. Our guide is my money safe in a neo bank? explains the difference between banks and e-money providers.

Compare the providers available in Portugal in the comparison table. Considering Spain instead? Read opening a bank account in Spain as an expat.

Sources

• gov.pt: Pedir o Número de Identificação Fiscal (NIF) para pessoa singular
• gov.pt: Nomear representante fiscal
• Observador (Lusa): Imigrantes sem Cartão de Cidadão já podem pedir o NIF no Portal das Finanças
• Banco de Portugal: Serviços mínimos bancários (brochure, June 2026)
• Novo Banco: Account opening form for non-residents
• Literacia Financeira: O que é o Fundo de Garantia de Depósitos?
• Revolut: Termos e condições para clientes particulares (Portugal)
• 24noticias: IBAN português e MB Way estão finalmente disponíveis no Revolut
• N26 Support: Can I open an N26 account in my country?
• N26: How to open a bank account in Portugal
• bunq Help: Who can open a bunq Business account in Portugal?
• bunq Help: Foreign IBANs

Prices and features checked on 5 November 2026.

This guide is general information, not financial advice. Fees, features and availability change, so check the provider's own website before you apply. Read how we compare providers and our affiliate disclosure.