Open a company bank account
Please note that each bank may have some specific requirements and procedures for opening a company account. Therefore, it is advisable to contact your chosen bank in advance to get detailed information about the process of opening an account and the required documents. Bank representatives will also be able to advise you on additional services offered by the bank and help you make a decision that suits your needs and business objectives.
Follow these steps to open a company account with a bank in Portugal:
1. Choose a bank: Research the different banks in Portugal and choose the one that best suits your needs and company requirements. Consider the terms of service, fees, availability of online banking and the bank's reputation.
2. Prepare the following documents:
- Company constituent documents (notarized articles of association and company contract).
- Copies of passports or identity cards of all founders, directors and beneficial owners of the company.
- Certificate of registration of the company in the national registry.
- Documents proving the company's address (e.g. utility bills or rental agreement).
- Tax identification numbers (NIF) of the company and founders.
- Other documents that may be required by the selected bank.
3. Fill out the application: Go to the bank of your choice and fill out an application to open a company account. Provide all the necessary documents specified in point 2.
4. Meeting with bank representative: The bank may request a personal interview or meeting with the bank representative to conduct additional verification and discuss the terms of opening an account.
5. Paying the initial deposit: You may be required to make an initial deposit into the account to be opened. The amount of the deposit may vary depending on the bank and type of account.
6. Signing the contract: Once all the documents are checked and all the necessary procedures are completed, the bank will send you an agreement to open the account. Read the terms carefully and sign the contract.
7. Get bank details: Once you are satisfied with your account opening, you will get bank details such as your account number, IBAN (International Bank Account Number) and BIC (Bank Identification Code). These details are necessary for financial transactions and for exchanging information with your partners and customers.
8. Set Limits and Services: Contact your bank to find out the terms and restrictions associated with your new account. Discuss online banking options, access to bank cards, payment services, and other financial tools that may be helpful to your business.
9. Follow your bank's requirements: It's important to follow all of your bank's requirements and policies related to account opening and use. Keep your financial records up to date, pay your fees and follow your bank's policies.
Note that each bank may have some specific requirements and procedures for opening a company account. Therefore, it is recommended that you contact the bank of your choice in advance to get detailed information about the account opening process and required documents.
Bank representatives will also be able to advise you on additional services offered by the bank and help you make a decision that suits your needs and business objectives.