By
October 20, 2026
Can a foreign-owned company open a business account in Portugal?
Yes, a foreign-owned company can open a business account in Portugal, provided it meets the eligibility, identification, and compliance requirements of the financial institution.
Portugal allows companies to have foreign shareholders and directors, making it an attractive jurisdiction for international entrepreneurs, investors, and businesses seeking to establish operations within the European Union.
Whether a Portuguese company is owned by EU citizens, non-EU nationals, foreign corporations, or international investors, foreign ownership does not automatically prevent it from obtaining a business account.
However, banks and authorised payment service providers must verify the company's legal registration, ownership structure, authorised representatives, and business activities before approving an application.
For companies conducting transactions in euros, business accounts offering a dedicated IBAN and access to Single Euro Payments Area (SEPA) transfers can provide a practical solution for managing payments across Europe.
This guide explains how foreign-owned companies can open business accounts in Portugal, the documents required, online application options, and the main considerations for non-resident shareholders and directors.
Yes. Portuguese companies can generally be owned by foreign individuals or legal entities.
Foreign shareholders may include:
A Portuguese private limited liability company, commonly known as a Sociedade por Quotas (Lda.), may have foreign shareholders.
A single-shareholder private limited liability company, known as a Sociedade Unipessoal por Quotas, may also be foreign-owned.
In general, foreign individuals and companies can own 100% of a Portuguese company, subject to any applicable sector-specific restrictions or regulatory requirements.
The ability to own a Portuguese company does not, however, guarantee approval for a business account.
Financial institutions independently assess applications according to their eligibility policies and regulatory obligations.
Yes. A Portuguese company with foreign shareholders or directors may apply for a business account with a bank or authorised payment service provider.
The financial institution will typically assess several factors, including:
A company with foreign ownership may be required to provide additional information, particularly where its ownership structure involves multiple jurisdictions.
However, foreign ownership alone does not mean that an application will be rejected.
Foreign-owned companies can explore different account types depending on their business requirements and the provider's eligibility policies.
Licensed banks may offer business accounts providing services such as:
Some banks may require in-person identification or additional documentation for foreign-owned companies.
Some financial institutions support digital onboarding and online account management.
Depending on eligibility, a foreign-owned Portuguese company may be able to apply remotely and manage its payments online.
Online business accounts can be particularly useful for entrepreneurs living outside Portugal.
Authorised payment institutions and electronic money institutions may provide business payment accounts for eligible companies.
Depending on the provider, these accounts may include:
Payment accounts are not necessarily equivalent to traditional bank deposit accounts.
Businesses should understand the services, regulatory status, and customer fund protections associated with each account type.
Financial institutions must identify business customers and understand their ownership and activities.
Although the exact requirements vary, foreign-owned Portuguese companies should generally prepare the following documents.
Commonly requested documents include:
These documents help confirm that the company legally exists and identify the individuals authorised to represent it.
Depending on the ownership structure and provider's requirements, foreign shareholders may need to provide:
Where a shareholder is another company, the financial institution may request corporate registration documents and information about the ownership chain.
Company directors or managers may be required to provide:
Additional verification may apply to directors who live outside Portugal.
Financial institutions must identify the individuals who ultimately own or control the company.
For Portuguese companies, information from the Central Register of Beneficial Owners (Registo Central do Beneficiário Efetivo, or RCBE) may be relevant.
The provider may req
