Opening a bank account is not difficult in Portugal but it does take a lot of patience and perseverance. If you are abroad, it may be more exhausting for you to spend your energy capital on trying to open a bank account from a different country than if you were in Portugal.

Getting your NIF in Portugal is easier if you’re an EU or EEA citizen. You simply need to find your nearest Financas office, walk in or make an appointment, and come prepared with your documents such as your passport and residential address.

Who needs a NIF number?

Foreign Investors:

Individuals investing in Portuguese assets, such as real estate, stocks, or other financial things, are required to have a NIF number. This allows them to be properly identified for tax purposes and enables them to fulfill their tax obligations related to their investments.

The Portuguese NIF number, in Portuguese, número de identificação fiscal (NIF), ou número de contribuinte, plays a fundamental role in fulfilling tax obligations within the country. With this number, you can accurately file tax returns, report income, and fulfill tax liabilities. Furthermore, you’ll need it for everything.