Regardless of the visa you intend to obtain — Golden Visa, D7, D8 — two elements are mandatory before any financial transaction, contract signing or formal application in Portugal: the Tax Identification Number (NIF) and a Portuguese bank account. This guide explains how to obtain both before moving.
What is the NIF and why is it indispensable?
The NIF is a number assigned by the Tax and Customs Authority that serves to identify taxpayers in the Portuguese tax system. It is required in various situations: opening a bank account, signing employment or rental contracts, and financial transactions.
Without a NIF it is not possible to open a bank account in Portugal. Without a Portuguese bank account it is not possible to complete an investment for the ARI, prove the liquidity required for the D7 or D8, or make transfers to qualifying funds. The NIF is, in practice, the zero requirement of any immigration process.
How to Obtain the NIF from Abroad
Tax representative
For non-resident foreigners, it is necessary to appoint a tax representative — generally a resident in Portugal who acts as an intermediary with the Tax Authority.
The appointment of a tax representative becomes mandatory for citizens with an address in a third country who, after being assigned the NIF as a non-resident, come to establish a legal tax relationship in Portugal — namely, owning property, entering into an employment contract or carrying out self-employed activity.
In practice, any Golden Visa, D7 or D8 applicant with an investment or property in Portugal must appoint a tax representative.
Opening a Bank Account in Portugal as a Non-Resident
With the NIF in hand, it is possible to open a bank account in Portugal even without residency. Most of the main Portuguese banks (Millennium BCP, Novo Banco, Santander Portugal, Caixa Geral de Depósitos) have processes for non-residents, which may include an account opening service via a lawyer.
Documents typically required by banks:
- Valid passport
- Portuguese NIF
- Proof of address in the country of origin
- Proof of source of funds (for deposits above certain amounts — mandatory for Golden Visa)
Order of Priorities
The correct process always follows this sequence:
Reversing this order — for example, attempting to submit an ARI application without a Portuguese bank account — is the most frequent cause of unnecessary delays in investment immigration processes.
The obtaining of a NIF and bank account can be handled entirely remotely, with the support of an immigration consultancy that has a partner tax representative. On average, the complete process (NIF + active account) takes between 5 and 15 working days.
