Now that your Portuguese Company is incorporated, you are a few steps away from being able to lawfully operate it. In other words, you now need to open a Company Bank Account that will be the step before last towards having your Company up and running.
We have been working on availing solutions that our service allows you to remotely start your business in Portugal. Nonetheless, there are still a few hurdles along the way namely those related to opening a bank account for non-Portuguese residents. Long story short, you have three options you may want to choose from depending on your ability to travel to Portugal.
1. PORTUGUESE BANKS – IN PERSON
For a traditional business bank account, we recommend BANCO BPI and SANTANDER TOTTA banks who, similarly to every other Portuguese bank, require an in-person meeting with a bank representative. In order to smoothen the process, GrowIN Portugal will help you by availing and guiding you to fill out all necessary bank account application documents prior to and during your stay in Portugal. In other words, we ease the entire application process so that you can rapidly open a bank account for your newly established Company. The activation of the bank account requires your presence in Portugal to finalize the process.
2. DIGITAL BANKS – ONLINE
In case you prefer to avoid delays and traveling hassles, there are alternatives that enable you to open a business account remotely and obtain your IBAN. We recommend and will assist you in signing up, setting, and activating your bank account using Revolut for Business or Transferwise for Business. Both digital banks offer credit cards and plenty of integrations with other software and applications.