New Banking account

Hi Ricktark1,

Do you already have your NIF ( tax number ) ? It is a requirement for open a bank account and your NIF must also be stated in your lease contract. As for the selection of the bank, almost all of them have monthly account maintenance costs, which can range from 5 to 10 euros. I suggest you give your Ponta Delgada address when opening the bank account.

@JohnnyPT

Thank you for your earnest and honest replies. They show your interest and involvement at expat.com yes I do have an nif so it is legal for me to open a bank account and to sign a lease. I do not have the lease signed yet do you think it's still a good idea for me to use that address?

@JohnnyPT
Thank you for your earnest and honest replies. They show your interest and involvement at expat.com.

Yes I do have a NIF so it is legal for me to open a bank account and to sign a lease. The landlord has made a request for several information points including my NIF number, my USA passport number, my address in the States.

I do not have the lease signed yet. Do you think it's still a good idea for me to use that address?
-@Ricktark1

You may open a bank account either as a resident or a non-resident. Non-resident accounts require more documentation and can have more restrictions than a resident account, but this is an option if you don’t have an address in Portugal yet.

If you’re opening a resident bank account, you can bring proof of your address in Portugal such as your signed rental contract or a utility contract (water, electricity, tv&internet,...)

If you’re opening a non-resident bank account, you can bring proof of your address in the States. It’s best to bring several different documents if you can, such as a utility bill and an official letter from a government agency (SEF, ... etc), both with your address in the States, just to be on the safe side.

You can use WISE to transfer money from the US to PT.  People are also using Charles Schwab which is $15 for wire transfer.

If you are getting a D7 visa, make sure your rental lease is 'registered' with Financas. (landlord will have to pay taxes on rental income)

@marybrozik thank you. Yes the property is registered, I  think.

I'm looking for an attorney in Ponta Delgada to help me with contracts and Contacts.