TRADITIONAL
Millennium bcp
The largest private bank in Portugal. A full corporate offering, private banking, currency accounts and mortgages for non-residents.
02 · Banking · 11 institutions on our panel
A Portuguese bank account —
opened, even if
you are a non-resident.
Personal and corporate accounts with 11 Portuguese banks and leading European EMIs. We work with residents, non-residents, difficult source-of-capital jurisdictions and international structures.
Partner banks
Direct contacts
inside compliance departments
A dedicated relationship manager at each of the 11 banks. Your file is reviewed by a person, not a scoring engine. Approvals are higher and turnaround shorter.
TRADITIONAL
Novo Banco
Handles foreign founders and IT companies well. Strong SEPA payments and fast business accounts.
TRADITIONAL · GOV
Caixa Geral
The state bank. Conservative compliance, but A-grade reliability. For holding structures and long-term custody.
DIGITAL
ActivoBank
The fully digital bank of the Millennium group. Fast onboarding (5–7 days), free cards, a well-built app.
PRIVATE
Bison Bank
A private banking boutique in Lisbon. Works with capital from €500,000. A dedicated banker and discretionary management.
EMI · DIGITAL
Wise · Revolut · Airwallex
Electronic money institutions for fast international settlements. Multi-currency, low fees, a solid fallback option.
Process
From application to
a live account —
in 2–4 weeks
Bank compliance is the tightest bottleneck in any relocation. 40% of the clients who came to us after being refused elsewhere simply did not have a properly prepared document pack.
- 1Pre-qualification1–2 days
We review your profile and sources of capital, then shortlist a bank.
- 2KYC pack5–7 days
Collecting and legalising documents: passports, NIF, SoF/SoW.
- 3Interview with the banker1 day
In person or by video. We attend and interpret.
- 4Approval and activation5–10 days
You receive the IBAN, online banking access and cards.
Approval rate · 2025
- Approvals (corporate)
- 89%
- Approvals (individual)
- 96%
- Median turnaround
- 18 working days
- Min. deposit
- €0 — €250
- Currency accounts
- EUR · USD · GBP · CHF
- RU/BY clients
- Case by case
- Russian-speaking support
- 4 banks
Frequently asked questions
Banking in Portugal —
without guesswork
Do I have to travel to Portugal in person to open an account?
+
At 7 of the 11 banks — yes, an in-person meeting is required at least once. At 4 banks (ActivoBank, some Millennium products, 2 EMIs) remote onboarding via video KYC is possible. We match the bank to what you are able to do.
What are Source of Funds and Source of Wealth?
+
SoF is the origin of the specific money that will sit in the account. SoW is the origin of the client's overall wealth. Portuguese banks are required to document the origin of capital under the EU AML directive. We help gather, translate and certify it: statements, asset sale agreements, tax returns, salary certificates.
Can a Russian or Belarusian citizen open an account?
+
Yes, case by case and with a documented source of capital. EU sanctions apply (Regulation 833/2014), prohibiting deposits above €100,000. This does not apply to EU residents holding a residence permit. In practice, with a residence card from any EU country accounts are opened as normal.
What if the bank says no?
+
We analyse the reason for refusal, adjust the pack and file with the next bank on our panel. In 92% of cases the account opens on the second or third attempt. The guarantee is written into the engagement: either we open the account, or we refund the fee.
Which bank cards are issued?
+
Every bank issues physical and virtual Visa/Mastercard cards. Debit Classic, Gold, Platinum or Black. Multi-currency cards, cashback, travel benefits. Business cards for every authorised employee.
Ready to start
We'll assess your case free of charge
Tell us briefly about your capital structure — we'll come back with an opinion on which banks realistically will open an account, and how long it will take.