Before opening a bank account in Portugal, you must obtain a Fiscal Identification Number, known as a NIF number.

Required documents

• Proof of identity (e.g., passport)
• Proof of address (for example, a recent utility bill or letter received within the last three months with your name and address visible)
• Tax number
• Proof of income or employment (for example, a recent paycheck or letter of employment) You can still open a Portuguese bank account if you are not employed. You must present proof of enrollment at the Portuguese employment center (Centro de Emprego) or have a guaranteed employment contract.
• A Portuguese phone number for SMS activation: It may not be required, and it depends on the bank. Some banks also accept international phone numbers.
• A deposit of 250–300 euros in cash is expected, although this depends on the bank.

To apply for the Portugal Golden Visa, you must open a Portuguese bank account.