Portugal
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Grenada Citizenship by Investment
Opening a bank account in Portugal is not just paperwork. It is one of the first legal steps every Golden Visa applicant must take. Your qualifying investment funds need to flow into a Portuguese bank account registered under your name, which makes choosing a bank a cornerstone of the process.
For fund investments (€500k route): Banco Invest is the best choice — €0 custody fees, depositary for multiple GV-eligible funds, and fully digital account opening. For remote opening with a lawyer: Novo Banco or Bison Bank, both accept full Power of Attorney. For long-term banking in Portugal: Millennium BCP — largest private bank with 695 branches and the widest product range for life after your visa.
Portugal Golden Visa applications face 2+ year processing times due to ~50,000 application backlog at AIMA. Opening a bank account is still required, but factor this timeline into your planning.
In our experience helping 2,600+ Golden Visa clients — including 400+ bank account setups in 2025 alone — choosing the right bank early prevents weeks of delays and unexpected compliance issues. We track processing times, rejection rates, and client feedback across every major Portuguese bank.
Since Law 56/2023 (Mais Habitação) took effect on October 7, 2023, all real estate investment routes were completely eliminated, along with the €1.5 million capital transfer option. Today, most applicants invest through regulated Portuguese funds. That change means the bank you choose matters more than ever.
Some institutions, such as Millennium bcp, are widely known for their non-resident services. Others, like Caixa Geral de Depósitos, provide state-backed stability but may be less flexible for international clients. Options also include global names such as Santander and digital-first challengers like ActivoBank.
The challenge is that not every bank is equally prepared for Golden Visa clients. Some allow remote account opening, while others require in-person visits. Fees, English-speaking support, and digital tools also vary widely. Choosing the wrong bank can slow your application and add unexpected costs.
This guide explains why a Portuguese bank account is essential, compares the leading options available in 2026, and shows you the step-by-step process to get started with confidence.
Top Bank Picks for Golden Visa 2026:
Do You Need a Bank Account for the Portugal Golden Visa?
Yes, opening a Portuguese bank account is mandatory if you plan to apply for the Golden Visa. Under Portuguese law, all qualifying funds must be transferred into an account held in the applicant's name. Without it, you cannot proceed with your investment or submit a compliant Golden Visa application.
The account plays a crucial role throughout the process:
- Proof of the origin of funds: ensures compliance with anti-money laundering (AML) regulations.
- Payment hub: covers government fees, lawyer services, and ongoing investment-related costs.
- Fund subscription: investments must be routed through a Portuguese account for traceability and audit purposes.
- Regulatory requirement: the National Immigration and Asylum Authority (AIMA) will not accept applications without this step.
It is worth clarifying a common misconception. In the past, investors could qualify for the Golden Visa program through a €1.5 million bank deposit.
That route is no longer valid. Today, the account is primarily a transactional tool, allowing you to fund regulated investments and demonstrate compliance.
Need Guidance with Your Portuguese Bank Account?
Golden Visa rules require you to hold a Portuguese account.
Our legal team can help you set it up remotely, ensure full compliance, and save you weeks of delays.
Golden Visa Banking Essentials: What to Look For
Before choosing a bank, it helps to know what really matters for Golden Visa applicants. Not every bank in Portugal is equally prepared to handle international clients or meet the specific compliance demands of the program.
Here are the key factors to keep in mind:
Keep these points in mind as you explore the banks below. We've compared them side by side to save you time.
Top 10 Best Banks in Portugal for Golden Visa Applicants
If you're applying for Portugal's Golden Visa program, choosing the right bank is almost as important as picking the right investment. Banks in Portugal differ widely in fees, remote onboarding options, custody account support, and how familiar they are with Golden Visa procedures. Some cater almost exclusively to international clients, while others are household names that still handle non-resident accounts.
This guide breaks down the best banks for Golden Visa applicants, from boutique specialists to mainstream all-rounders, with an at-a-glance comparison table followed by detailed profiles of each institution.
- Fastest average opening: Banco Invest (5 business days) and Bison Bank (6 days)
- Most used by our clients: Novo Banco (34%), Millennium BCP (28%), Banco Invest (18%)
- Highest rejection rate: CGD for non-EU applicants without Portuguese tax representative
- Best remote experience: Bison Bank — 92% of our remote clients chose them
Which Bank Should You Choose?
Based on verified data (February 2026), here are our recommendations by investor profile:
Quick Answers
Best bank for US citizens?
Bison Bank or Novo Banco — both have streamlined FATCA processes and regularly handle American Golden Visa applicants.
Best bank for Power of Attorney opening?
Novo Banco — one of the only major Portuguese banks accepting full PoA for remote account opening.
Cheapest custody fees?
Banco Invest — zero custody or maintenance fees, depositary for multiple GV-eligible funds.
Fastest account opening?
Bison Bank (6 business days average) and Banco Invest (5 business days) based on our client data.
Best for everyday banking after GV?
ActivoBank — true zero fees, best mobile app. But cannot hold GV fund investments.
Safest/most stable bank?
CGD (Caixa Geral de Depositos) — 100% Portuguese government-owned with EUR 106 billion in assets.
At-a-Glance Comparison
| Bank | Our Pick For | Remote Opening | Monthly Fee | Min Deposit | Custody |
|---|---|---|---|---|---|
| Banco Invest | #1 for Fund Investors | Yes (digital) | €0 | €5,000 | Yes — depositary for multiple GV funds |
| Bison Bank | #1 for Remote Opening | Yes (video KYC) | €10+ | Higher | Yes (CMVM) |
| Millennium BCP | #1 for Long-Term Banking | Limited | €5-7 | Low | Yes — largest private bank, 695 branches |
| Novo Banco | Best PoA acceptance | Yes (full PoA) | €8-16 | €250 | Yes |
| Banco Finantia | Best for HNW (€50k+) | Yes | €0 | €50,000 | Yes — term deposits (rates vary) |
| Banco BiG | Best for self-directed trading | Yes (video) | €0 | €2,000 | Yes — 1,000+ funds |
| CGD | Best state-backed stability | Rare | €3-5 | €150 | Yes — 100% government-owned |
| BPI | Best Spanish/EU connection | Yes (PoA) | €4-6 | €0 | Yes — CaixaBank owned |
| Santander PT | Best global network | Yes (PoA) | €4-7 | €0 | Yes — SEPA-integrated |
| ActivoBank | Best for post-GV everyday use | No (in-person) | €0 | €0 | No Not for GV investment |
Now that you've seen how the leading Portuguese banks compare at a glance, let's look more closely at each option.
#1 Bison Bank
Best for: Remote Golden Visa account opening
Bison Bank is one of the most Golden Visa–friendly banks in Portugal. It specialises in private banking and wealth management, catering mainly to international clients and non-residents.
Unlike retail-focused banks, Bison Bank is streamlined for investors who need efficient Portuguese bank account opening and custody services for Golden Visa–eligible investments.
With its headquarters in Lisbon, the bank is renowned for its English-speaking service, simple processes, and expertise in managing large investments for international clients.
If your main focus is making a qualifying Golden Visa investment rather than day-to-day banking, Bison Bank is often the top recommendation. Our take: We've processed 85+ account openings through Bison since 2022. Average time to active account: 6 business days. Their GV desk (ask for the international team) handles compliance faster than any retail bank we work with.
- Specialized in Golden Visa–related services
- Remote account opening possible
- Experienced with international and non-resident clients
- English-speaking support staff
- Custody services tailored for Golden Visa investments
- Streamlined compliance for investors
- Higher fees compared to retail banks
- Limited everyday banking features
- Requires higher minimums than mainstream banks
- Smaller branch network (Lisbon-based only)
Key Features
- The accounts are specifically structured to handle investments that meet Portugal's Golden Visa requirements.
- Accounts can be opened from abroad with full assistance, avoiding the need for early in-person visits.
- Offers secure custody accounts to hold qualifying investments, a mandatory step for Golden Visa applicants.
- Staff are trained to work with non-resident investors, with English support readily available.
- Operates as a private bank, focusing on wealth management rather than retail services.
#2 Banco BiG
Best for: Online-first investors
Banco BiG (Banco de Investimento Global) is Portugal's pioneering online investment bank, founded in 1998 as the country's first digital brokerage. Unlike traditional retail banks, BiG specialises in savings, investment products, and securities trading rather than everyday banking.
With 14 branches across Portugal and a fully digital platform, BiG offers access to over 1,000 investment funds, ETFs, bonds, and stocks across global markets. The bank provides custody services and multi-currency accounts in USD, GBP, CHF, and more.
For Golden Visa applicants who want to actively manage their own investments, BiG is a strong choice. However, the €2,000 minimum deposit and investment-focused approach make it less ideal for applicants who simply need a compliant account for fund transfers.
- Strong experience with Golden Visa clients
- Remote account opening supported
- Competitive fees for account maintenance
- English-speaking customer support
- Flexible approach to non-resident banking
- Limited branch network outside Lisbon
- Less brand recognition than major Portuguese banks
- May not offer the same breadth of services as larger banks
- Focus is more on expats and investors than local retail clients
Key Features
- Portugal's first online brokerage (1998) with over 25 years of experience serving investors.
- Access to 1,000+ investment funds, ETFs, bonds, and stocks across NYSE, NASDAQ, and European exchanges.
- Multi-currency accounts available in USD, GBP, CHF, CAD, NOK, and SEK.
- Custody and depository services for Golden Visa fund investments (verify compatibility with your fund manager).
- Four trading platforms including BiGlobal Trade for active investors.
#3 Novo Banco
Best for: Assisted remote opening and packaged accounts
Novo Banco is Portugal's fourth-largest bank, emerging in 2014 from the resolution of Banco Espírito Santo. Now owned by French banking group BPCE, it combines solid financial backing with a strong focus on serving expats and non-residents.
For Golden Visa applicants, Novo Banco stands out as one of the few major Portuguese banks that accepts Power of Attorney for fully remote account opening. This makes it a top choice for investors who cannot travel to Portugal during the application process. Our take: Novo Banco handles about a third of our client accounts. The Golden Key tier is worth it for the dedicated manager — we've seen 40% faster issue resolution vs. standard accounts. One caveat: their Lisbon branches are more experienced with GV clients than regional ones. The bank offers packaged accounts designed for foreigners, including the "Boas-Vindas" (Welcome) account with personal accident insurance and the premium "Golden Key" account with a dedicated English-speaking manager.
- Accepts Power of Attorney for remote account opening — rare among major banks
- Expat-focused accounts: 'Boas-Vindas' (Welcome) and premium 'Golden Key'
- Golden Key includes dedicated English, French, or Chinese-speaking manager
- Custodian services available for Golden Visa fund investments
- 290+ branches nationwide with multilingual support in major cities
- Bank of the Year Portugal 2023 (The Banker/FT) — now owned by BPCE Group
- Monthly fees €7.50-15 (not free like digital banks)
- Income thresholds: €3,500+ monthly or €35,000+ savings required
Key Features
- One of the only major Portuguese banks accepting Power of Attorney for fully remote account opening.
- Specialized expat accounts: "Boas-Vindas" (Welcome) for new arrivals and "Golden Key" for premium service.
- Golden Key includes a dedicated English, French, or Chinese-speaking account manager.
- Now backed by French banking group BPCE, providing strong financial stability.
- 290+ branches nationwide with multilingual staff in major cities.
#4 Millennium bcp
Best for: Broad branch network and expat-friendly service
MillenniumBCP is Portugal's largest privately owned bank and one of the most recognisable names in the country's financial sector. It has a broad branch network, particularly in Lisbon and Porto, making it convenient for expats who value face-to-face service. Millennium is well-regarded for its professional staff, multilingual support, and flexible solutions for international clients.
For Golden Visa applicants, Millennium offers dedicated services tailored to residency-by-investment, with account managers familiar with the legal and financial requirements. While it does carry moderate fees and can be bureaucratic, its combination of stability and expat-friendly services makes it a reliable choice. Our take: Millennium is our second-most-used bank. Processing is slower (10-14 days average) but they're unmatched for clients who want mortgages or business accounts later. The Avenida da Liberdade branch in Lisbon has handled dozens of our GV clients.
- Largest privately-owned bank in Portugal, offering strong credibility
- Extensive branch network with solid in-person support
- English-speaking staff, particularly in main cities
- Experience serving expats and Golden Visa clients
- Wide range of banking and investment products
- Monthly maintenance fees apply
- Bureaucratic processes may slow account opening
- Online banking interface less intuitive than digital-first banks
Key Features
- The company has a strong presence throughout Portugal, with branches located in all major cities.
- Specifically structured services for Golden Visa applicants and expats.
- Dedicated account managers are available to provide personalised guidance.
- Access to a full suite of products, including investment and private banking.
- Reliable English and Portuguese support in key locations.
#5 Santander Portugal
Best for: Strong international presence and digital services
Santander Totta is the Portuguese arm of the global Santander Group, one of the world's largest banking institutions. It combines the security of an international banking powerhouse with the accessibility of a strong local presence in Portugal.
For Golden Visa applicants, Santander Totta offers investment-friendly accounts and custody services, with the added reassurance of global standards and robust compliance.
While it's a well-rounded choice, the bank is known for higher fees compared to some competitors, and account opening can involve detailed documentation.
- Backed by the global Santander Group, ensuring financial strength
- Extensive branch and ATM network across Portugal
- Golden Visa–friendly, with custody services available
- Strong international connections for cross-border banking
- Offers English-speaking staff in many locations
- Monthly account fees are higher than digital banks
- Can involve bureaucratic steps for account setup
- Customer support quality varies by branch
- Digital platforms less sleek than top online banks
Key Features
- Part of the Santander Group, offering both local support and international reliability.
- This full-service bank offers investment and custody accounts that are compatible with the Golden Visa.
- The bank boasts a robust infrastructure, operating hundreds of branches and ATMs across Portugal.
- Customer service is often available in English, supporting expats and international clients.
- The company has a strong reputation for maintaining compliance and transparency in investment-related accounts.
#6 Caixa Geral de Depósitos (CGD)
Best for: Government-backed stability and wide national presence
Caixa Geral de Depósitos (CGD) is Portugal's largest state-owned bank, widely trusted for its stability and security. With branches across the entire country and internationally, CGD is often the go-to choice for newcomers looking for a traditional, dependable banking partner.
For Golden Visa investors, CGD provides reassurance from a government-backed institution, making it particularly appealing to those who prioritise security over innovation. But the bank is also more traditional, with slower processes than some private or digital rivals. Our take: We rarely recommend CGD for initial GV accounts. Non-EU applicants without a Portuguese fiscal representative face a 30%+ rejection rate in our experience. If you want state-backed security, open here after your GV is approved, not before.
- Backed by the Portuguese government, ensuring strong stability
- Largest branch and ATM network in Portugal
- Trusted reputation among locals and international clients
- Offers Golden Visa–friendly investment and custody services
- Strong compliance with Portuguese banking regulations
- International presence makes cross-border banking easier
- Bureaucratic procedures can make opening an account slow
- Less modern digital platforms compared to newer banks
- Fees may be higher than online-only competitors
- Limited personalized service unless using private banking
Key Features
- This is a government-owned bank that offers the highest level of trust and financial security.
- The bank provides nationwide branch coverage, ensuring easy in-person support throughout Portugal.
- The bank offers investment and custody accounts that are compatible with the Golden Visa.
- The company offers a wide range of products, ranging from basic banking to advanced private banking solutions.
- The bank has a global presence, boasting branches and correspondent banks across the globe.
#7 ActivoBank
Best for: Fee-free everyday banking once you're resident
ActivoBank is Millennium bcp's digital-first brand, designed for tech-savvy users who want a simple, low-cost banking experience. It eliminates traditional banking bureaucracy, offering zero maintenance fees and a smooth mobile app for everyday transactions.
For Golden Visa applicants, ActivoBank can be a cost-effective option, especially for those who are comfortable managing accounts online. However, it's not as strong for complex investment structures, so it may be less suitable for applicants needing custody accounts or high-touch services.
- No account maintenance or card fees
- Fully digital account management
- Fast and easy account opening process
- Award-winning mobile app with modern functionality
- Backed by Millennium bcp, ensuring stability
- No custody accounts for Golden Visa investments
- Limited physical branch support
- May not meet needs of clients preferring in-person services
Key Features
- This is a 100% digital bank that has no monthly fees or hidden charges.
- Designed for mobile-first users, offering intuitive apps for everyday banking.
- Part of Millennium BC provides strong backing and financial stability.
- Quick account setup with minimal bureaucracy.
- Consumer Choice Awards recognition for digital banking excellence.
- Ideal for day-to-day account management but limited for investment custody needs.
#8 Banco BPI
Best for: Solid all-rounder with CUF integration
Banco BPI is one of Portugal's largest and oldest banks, with a strong reputation for serving both locals and international clients. Backed by Spain's CaixaBank, it offers the stability of a major financial institution along with a broad branch network across Portugal.
For Golden Visa applicants, BPI provides dedicated investment account options and support for international transfers. The BPI is a favourable choice for clients seeking a reliable, traditional bank with strong international ties; however, its fees are generally higher than those of digital-first banks.
- Wide branch network across Portugal
- Backed by CaixaBank, adding financial stability
- Offers custody accounts for Golden Visa investments
- Strong international banking connections
- Provides multilingual customer support
- Solid reputation and long-standing presence
- Higher fees compared to digital banks
- Account opening may be more bureaucratic
- Online platform less advanced than some competitors
Key Features
- Custody accounts are available, suitable for Golden Visa investment requirements.
- Backed by Spain's CaixaBank, ensuring strong capital support.
- Wide range of financial products, including mortgages, investments, and insurance.
- Strong presence across Portugal with branches in major cities.
- A multilingual staff is available to assist international clients.
#9 Banco Invest
Best for: Niche investment banking and custody services
Banco Invest is a niche bank in Portugal that focuses heavily on private banking and investment services. It doesn't have the same widespread branch network as the major retail banks, but it excels in offering tailored investment solutions.
For Golden Visa applicants, Banco Investments is particularly attractive because of its specialised expertise in custody accounting, wealth management, and international client services. It's best suited for investors who want a boutique-style banking relationship rather than day-to-day retail banking.
- Strong focus on investment and wealth management
- Experienced in handling Golden Visa investment accounts
- Personalized private banking service
- Custody accounts available for fund investments
- Multilingual staff for international clients
- Limited physical branch presence
- Not ideal for everyday retail banking
- Fees can be higher than mainstream banks
Key Features
- The company specialises in investment accounts and products that qualify for Golden Visas.
- The company provides dedicated wealth management and private banking services.
- Offers custody accounts tailored for international investors.
- The bank provides multilingual client support for foreign applicants.
#10 Banco Finantia
Best for: Private banking and investment-focused accounts
Banco Finantia is an independent Portuguese private bank founded in 1987, specialising in Private Banking and Corporate & Investment Banking. With approximately €2.5 billion in assets and offices in Lisbon, Porto, Madrid, London, New York, and Miami, it serves high-net-worth individuals seeking personalised wealth management.
For Golden Visa applicants with €50,000 or more to invest, Finantia offers dedicated Private Bankers, competitive term deposit rates (verify current rates with bank), and CMVM-registered custody services. The bank excels in fixed-income securities and bond markets, making it ideal for conservative investors who prefer a relationship-based banking experience over digital self-service. Our take: Finantia is our go-to for clients parking €100k+ beyond their GV investment. The term deposit rates are competitive, and the private banker relationship pays off when you need fast document turnaround for visa renewals.
- Independent private bank since 1987 with €2.5 billion in assets
- International offices in Lisbon, Porto, Madrid, London, New York, and Miami
- Dedicated Private Banker for accounts over €50,000
- Competitive term deposit rates (verify current rates)
- CMVM-registered custody services for Golden Visa funds
- €50,000 minimum for private banking relationship
- Focus on fixed-income and bonds — less equity trading options
- Relationship-based model requires more personal interaction
Key Features
- Specialisation in investment accounts and Golden Visa-eligible products.
- Dedicated wealth management and private banking services.
- Dedicated Private Banker assigned for accounts over €50,000. Specializes in fixed-income securities and bond markets.
- Multilingual client support for foreign applicants.
How to Choose the Right Bank for Your Golden Visa
Picking the right bank isn't just about opening an account; it's about setting yourself up for a smoother Golden Visa journey. The "best" bank depends on how you'll invest, how much you'll rely on remote processes, and the kind of service you expect.
While some banks specialise in Golden Visa funds and remote onboarding, others distinguish themselves through their stability, global reach, or affordable digital platforms.
Your choice comes down to matching your investor profile with what each bank does best. Whether your preference is for private banking, digital convenience, or proven reliability, consider these key factors before making your decision:
At the end of the day, no single bank fits every Golden Visa applicant. The right decision is the one that aligns with your investment strategy, your comfort level with digital tools vs. in-person services, and your long-term financial plans in Portugal. Use the comparison table above to narrow down your options.
Not Sure Which Bank Fits Your Golden Visa Plan?
Our expert legal team can help you compare banks, understand fees, and match your profile with the right option — making your Golden Visa journey faster and smoother.
Get Free Bank Selection GuidanceStep-by-Step: How to Open a Portuguese Bank Account for Golden Visa
Opening a bank account in Portugal for the Golden Visa isn't overly complex, but the process does have several checkpoints where preparation matters.
Getting your documents right, knowing whether you can onboard remotely, and ensuring your Source of Funds is airtight will save weeks of back-and-forth.
Here's the full sequence you can expect:
- Obtain a Portuguese NIF: A tax identification number, mandatory before any banking relationship.
- Choose your bank & opening method: Decide between remote onboarding, assisted account opening with a lawyer/PoA, or going in person.
- Prepare required documents: Passport, proof of address, tax ID, employment/income documents, and a detailed Source of Funds file.
- Certify or apostille documents: Some banks require notarised or apostilled versions for non-EU clients.
- Submit your application: The bank runs KYC and AML compliance checks.
- Complete identity verification: Either through an in-branch visit, PoA signing, or a remote video call.
- Make the initial deposit: Typically €100–€300 to activate the account (varies by bank).
- Get account details & online banking access: Your IBAN, login credentials, and cards are issued.
- Transfer investment funds: Deposit the €500,000 (or qualifying investment amount) into your Portuguese account.
- Receive a declaration of funds: The bank issues proof of deposit, which is required for your Golden Visa file.
Open your Portugal Golden Visa bank account
Get peer and expert tips on NIF, onboarding, and Source-of-Funds.
Keep your file on track.
Minimum Requirements (Most Banks):
Required Documents
Most banks ask for similar paperwork. Having these ready as clear colour PDFs helps avoid delays during KYC and AML checks.
Extras that often apply
Common Challenges (and Solutions)
Opening a local bank account for the Portuguese Golden Visa program is straightforward if you know where applicants usually stumble.
Most issues relate to KYC/AML proof, branch-by-branch practices, and uncertainty around which Portuguese financial institution can onboard you remotely. Use the table below to anticipate hurdles and pick the right fix before they cost you time.
| Bank | Remote Opening | Monthly Fee | Min Deposit | Custody | Best For | Key Advantage |
|---|---|---|---|---|---|---|
| Banco Invest | Yes (digital) | €0 | €5,000 | Yes (multiple GV funds) | GV fund investors | No custody fees, depositary for multiple GV funds |
| Banco Finantia | Yes | €0 | €50,000 | Yes (CMVM) | HNW investors | Competitive term deposits, private banker |
| Bison Bank | Yes (video KYC) | €10+ | Higher | Yes (CMVM) | Remote GV investors | Dedicated GV desk, Mandarin support |
| Novo Banco | Yes (full PoA) | €8-16 | €250 | Yes | PoA remote opening | One of few accepting full PoA, BPCE backing |
| Banco BiG | Yes (video) | €0 | €2,000 | Yes | Self-directed traders | 1,000+ funds, multi-currency accounts |
| Millennium BCP | Limited | €5-7 | Low | Yes | Long-term residents | Largest private bank, 695 branches |
| CGD | Rare | €3-5 | €150 | Yes | Risk-averse investors | 100% state-owned, €106B assets |
| BPI | Yes (PoA) | €4-6 | €0 | Yes | Spanish connection | 100% CaixaBank owned, 674 branches |
| Santander PT | Yes (PoA) | €4-7 | €0 | Yes | Global banking | SEPA-integrated, global network |
| ActivoBank | No (in-person) | €0 | €0 | No | Post-GV everyday banking | True €0 fees, best app — NOT for GV investment |
If you are investing through funds from abroad, lean toward specialists with custody and remote onboarding. If you want scale and branch access, the major all-rounders shine.
Either way, a tidy document pack and the right branch contact will make your Portugal investment visa process smoother for Golden Visa holders from day one.
- Not financial advice: This article is for informational purposes only and does not constitute financial, legal, or investment advice. Bank fees and rates change frequently—verify current terms directly with each bank.
- Processing times: Portugal Golden Visa applications currently face 2+ year processing times due to AIMA backlog. Plan your timeline accordingly.
- No commercial relationships: MovingTo does not receive compensation from banks listed in this comparison.
Frequently Asked Questions
Current Processing Delays (2026)
Portugal Golden Visa applications currently face 2+ year processing times due to a ~50,000 application backlog at AIMA. Golden Visa applications are processed at lowest priority. This doesn't affect the validity of the program — but plan your timeline accordingly.
Sources & Legal References
This guide references the following official sources:
- AIMA (Agência para a Integração, Migrações e Asilo) — Portugal's immigration authority for Golden Visa applications
- Diário da República — Official source for Portuguese legislation including Law 56/2023 (Mais Habitação)
- CMVM (Comissão do Mercado de Valores Mobiliários) — Portuguese securities regulator for qualifying investment funds
- Portal das Finanças — Portuguese Tax Authority for NIF applications
- Banco de Portugal — Central bank and banking sector regulator
Disclaimer: Banking requirements and fees change frequently. Always verify current terms directly with your chosen bank. This guide is for informational purposes and does not constitute financial or legal advice.
Conclusion
Opening a Portuguese bank account is a cornerstone of a successful Golden Visa application. It enables clean fund transfers, custody where required, and a clear audit trail that matches what your lawyers and the regulator expect.
Banks differ in approach and strengths, so choose based on your profile. Specialists work best for fund investors who need remote onboarding and custody. Major all-rounders suit applicants who want a large network and broad services.
Once you settle down, digital challengers are ideal for your everyday banking needs. State-backed options appeal if stability is your top priority. With the right preparation and documents in order, the banking step is manageable and predictable.
If you're unsure which bank fits your situation, our advisory team has helped thousands of Golden Visa applicants navigate this process — get in touch for personalized guidance.
Need Guidance with Opening a Bank Account?
Golden Visa rules require you to hold a Portuguese account.
Our legal team can help you set it up remotely, ensure full compliance, and save you weeks of delays.