Business Bank Account Requirements in Portugal
Explore requirements and top banks for business accounts in Portugal, including digital solutions and fees.
The exact change
According to Banco de Portugal Circular-Letter CC/2022/00000047, banks supervised by the Banco de Portugal must apply enhanced due diligence to non-resident customers... Non-EU residents must appoint a Portuguese tax representative to receive correspondence, which is a statutory obligation under Article 130 of the General Tax Law (Lei Geral Tributaria).
Banks supervised by the Banco de Portugal must apply enhanced due diligence to non-resident customers, which is the principal reason why non-resident directors face longer onboarding processes than Portuguese residents. Non-EU residents must appoint a Portuguese tax representative to receive correspondence, which is a statutory obligation under Article 19 of the General Tax Law (Lei Geral Tributaria).
Suggested change
Removed a fabricated Banco de Portugal circular citation ("CC/2022/00000047") and corrected a misattributed legal citation for the tax representative requirement, which had cited Article 130 LGT instead of the correct Article 19 LGT.
Why this is better
An unverified Banco de Portugal circular-letter citation (CC/2022/00000047) was unverified to support a due-diligence claim, and the tax representative requirement was misattributed to Article 130 LGT instead of the correct Article 19 LGT. Note: the tracker records both fixes as complete, but the live article file still shows the original unverified citation number and the incorrect Article 130 reference in these passages as of this review, so this before/after reflects the tracker's intended correction rather than a confirmed final state; flagging for a follow-up check that the edit actually landed.
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