The documents a bank asks for when a new company opens an account
A concrete list of what gets asked for, why, and the four mistakes that most delay a corporate account opening in Portugal.
Opening a bank account for a newly incorporated company takes anywhere from two weeks to three months. The difference is rarely the bank: it is how prepared the file is when it arrives.
What is always requested
The baseline is common to virtually every institution in Portugal:
- Permanent commercial registry certificate. No paper required — the access code gives the bank the current, authenticated version. It is valid for a limited period, so request a fresh code if the process drags on.
- Beneficial ownership declaration (RCBE). The bank wants to know who controls the company, not just who is listed as director.
- Corporate tax number (NIPC).
- Identity document and proof of address for every director and beneficial owner, within validity.
- Proof of the registered office address. A lease, a deed or a utility bill in the company’s name.
- Declaration of commencement of activity filed with the tax authority.
What is requested when the business is not obvious
If the activity is consultancy, international trade, technology or anything touching digital assets, expect a second round:
- A plain-language description of the activity. Not the corporate purpose — that is legal text and says little. What the analyst wants is: who pays, for what service, how much, and where the money comes from.
- Expected transaction volumes. Average value and number of transfers per month, and to which countries.
- Signed contracts or proposals, where they exist.
- Source of the funds that will capitalise the account.
None of these questions is hostile. They are the minimum that anti-money-laundering law obliges an institution to know about whoever it accepts as a client.
The four mistakes that cause the most delay
Describing the activity in generalities. "Consultancy and miscellaneous services" forces the analyst to ask again. "Management consultancy for Portuguese SMEs, billed monthly on retainers between EUR 800 and 3,000" settles it first time.
Expired documents. An out-of-date ID or a proof of address older than three months restarts the clock. Check everything before submitting, not after the bank sends it back.
Inconsistencies between documents. The address on the registry certificate must match the address declared to the tax authority and the proof provided. A difference of one floor or one postcode digit is enough to raise a query.
Leaving beneficial ownership unexplained. In structures with holding companies or non-resident shareholders, draw the ownership chain on one page, down to the natural person. Saving that page costs weeks.
What helps more than any single document
An organised file. One folder with an index, legibly named documents and a one-page note explaining the company. On the bank’s side is a person with dozens of files on their desk; the file that can be understood in five minutes moves before the file that requires questions.
That is the logic of keeping a Trust Center permanently up to date: by the time the request arrives, the answer already exists.