Step 3

D7 Roadmap

  1. Step 1 — Is the D7 Visa Right for You?
  2. Step 2 — Get Organised
  3. Step 3 — Obtain Your NIF & Open a Portuguese Bank Account
  4. Step 4 — Visit Portugal (Scouting Trip)
  5. Step 5 — Finding Accommodation
  6. ... more steps added as each page is rewritten

Obtain Your NIF & Open a Portuguese Bank Account

Two of the earliest, most essential steps in this whole process: getting your NIF, and using it to open a Portuguese bank account. Both are required before you can apply for the D7, and one depends on the other — you'll need your NIF first.

Why This Matters

A Portuguese bank account is a required part of the D7 application. But to open one, you first need a NIF — your Portuguese tax number. Getting both sorted early, well before your VFS appointment, avoids a last-minute scramble.

What is a NIF?

A NIF (Número de Identificação Fiscal) is a nine-digit Portuguese tax identification number, issued by the Portuguese tax authority. You need it to:

  • Open a bank account
  • Sign a rental or purchase contract for property
  • Set up utility services
  • Receive income or take up employment in Portugal
  • Engage in business activities or self-employment

Getting Your NIF

Non-residents can apply for a NIF in person at a Finanças (tax office) — this route is free, and often processed within minutes. You can also apply remotely through a fiscal representative or an online service, which usually takes 1–25 days depending on the provider.

Since July 2022, non-EU/EEA applicants (including UK nationals) are no longer strictly required to use a fiscal representative — but it can still make a remote application considerably easier, especially if you're not planning a scouting trip before applying.

A few services that help non-residents obtain a NIF remotely:

  1. European Odyssey — run by Ellie, an admin in our Facebook group. Offers a free consultation and 5% off for group members.
  2. Bordr.io — a fully remote NIF and bank account service, generally fast and straightforward.
  3. GetNIFPortugal — handles the process entirely online, popular with D7 applicants.
  4. NIFonline — a streamlined online NIF service with support throughout.
  5. Ei! Assessoria Migratória — handles NIF, bank account setup, and related D7 services.

These services charge a fee. Choose one with good reviews, and confirm what's included before paying.

Opening a Bank Account from Overseas

Once you have your NIF, you can open a Portuguese bank account. Before choosing a bank, check whether they offer English-language support, online banking, and a usable phone app — this matters a lot if you don't yet speak Portuguese.

Banks that generally allow non-residents to open accounts from abroad:

  • Millennium BCP — Portugal's largest private bank; process can start online, branch visit sometimes required.
  • Caixa Geral de Depósitos (CGD) — state-owned bank; may require a branch or consulate visit.
  • Banco Santander Totta — process can often start online, with documents sent by mail.
  • Novo Banco — typically requires documents by post or a local representative.
  • Banco BPI — usually requires in-person verification at a branch.
  • ActivoBank — a digital bank (Millennium BCP subsidiary), relatively straightforward, though some physical verification may still be needed.
  • Atlantico — a smaller bank with strong English-language phone support, apps, and online banking. See the caution below before relying on it for large or time-sensitive transfers.
  • Abanca — operates in Portugal and Spain; usually requires document submission.

Policies and requirements vary and can change — always confirm directly with the bank before assuming what's written here still applies.

Community Intelligence

We recently moved a larger sum through Atlantico for a property purchase. Their day-to-day English support is genuinely good, but sending an amount above the daily limit took far longer to process than expected — it took 8 hours on the phone to get the payment confirmed in time for the completion date, and the delay put pressure on our lawyer and the notary too.

Practical Tip

If you're planning any large, time-sensitive transfer — a property purchase deposit, for example — ask your bank in advance about their daily transfer limits and how long an above-limit transfer actually takes to clear. Don't assume a bank that's great for everyday banking will necessarily be fast for a large one-off payment; build in extra time as a buffer.

Common Mistakes

  • Trying to open a bank account before getting a NIF — you need the NIF first.
  • Assuming every bank's non-resident process is the same — some can be done almost entirely online, others require an in-person branch or consulate visit.
  • Not checking a bank's transfer limits and processing times before relying on them for a large, time-sensitive payment.

Frequently Asked Questions

Do I need a fiscal representative to get a NIF?
Not strictly, if you're applying in person at a Finanças office. If you're applying remotely, a representative or online service usually makes the process considerably smoother, even though it's not always legally required.

How much does a NIF cost?
Getting the NIF itself is free if done in person. Costs only arise if you use a fiscal representative or a paid remote service.

Next Step

→ Step 4 – Visit Portugal (Scouting Trip)

Subscribe to: Posts (Atom)