Frequently asked questions opening account for self-employed individuals

At the end of the online account opening process, and after we validate it, we will provide you with the IBAN to complete your Start of Activity Registration (business and/or professional) with the Tax Authority (AT).

This includes all individuals who have completed the Start of Activity registration with the Tax Authority (AT), such as:

• Sole traders (ENI)
• Liberal professionals
• Independent workers
• Service providers

Yes, you can open an account without having completed the Start of Activity registration with the Tax Authority (AT).

Once the account has been validated and opened, we will send you the IBAN to use for the Start of Activity registration with the AT.

To activate the account, you will need to return to the online account opening process, select “Resume account opening,” and submit the supporting document, as follows:

• If you complete the registration online with the AT, the supporting document is the Start of Activity declaration and the confirmation letter sent by the AT;
• If you complete the registration in person at a Tax Office, the supporting document is the declaration provided to you, stamped by the Tax Office branch.

The Self-Employed Corporate Account is a current account for self-employed Customers, with a monthly maintenance fee of €5.20 (plus Stamp Duty).

To open this account, you must:

• Be over 18 years old;
• Have a usual residence address in Portugal;
• Have registered the Start of Activity with the Tax Authority (AT) for account activation.

The account holder is the self-employed individual.

During the online account opening process, we will check the participants’ data with the Bank of Portugal’s Central Credit Register.

To open an account online, you must have:

• A Digital Mobile Key (CMD) linked to your Citizen Card, with a Portuguese address and mobile number, and an active digital signature;
• Registration of Start of Activity with the Tax Authority (AT).

To activate the account, you must make a transfer from a Bank account in your name, in an amount equal to or greater than €250, in accordance with the Standard Information Sheet for the Corporate Account.

Cash deposits or other types of funds are not accepted as the first credit transaction on the account.