Oftentimes, you’ll have to get your documents translated and authorised by a notary public if you’re a foreigner opening an account from abroad. Our team here at IB-IA GROUP UAB will be more than happy to arrange such a service for you.
Any permanent resident of the EU (regardless of citizenship status) who’s over 18 years old of age, is entitled to open a bank account in an EU bank as long as they can provide a national ID card or passport and proof of address.
Non-residents of the EU usually must meet much stricter requirements, including credit and background checks, and have fewer options. In some countries, they may be required to visit a bank in person and pay higher fees once their bank account is open.
Non-residents of the EU looking to send and receive payments in Europe may opt for a borderless account provided by a digital bank (e.g. Wise) since this option is quite easily accessible compared to requirements for other types of bank accounts. As long as you have proof of identity and can provide your contact details, a digital bank can open an account for you in 15 minutes.
While for non-residents of the EU it’s quite difficult to open a bank account in many European countries, Portugal is less strict and offers a solution. Start with getting a NIF (Portuguese tax number) through a representative in Portugal. Then bring your passport, proof of address, proof of employment (or proof of registration with the Portuguese employment centre) and a deposit of around 300 EUR in cash to the branch of a selected bank. You’ll also have to provide your NIF number and your Portuguese cell phone number when initiating the application process. These few steps should guarantee a personal bank account in Portugal, even if you’re a non-resident.
Estonian banks also welcome foreign non-residents of the EU through their e-residency programme. However, the programme itself doesn’t promise an Estonian bank account – it’s best if you can prove your link to Estonia by supplying evidence of employment, company formation or local property and visit one of the branches of your selected bank to initiate the application process. You should note that higher fees apply for non-residents of the EU.
Regardless of your residence status, you can make up your mind to become a client of a European private bank. Qualifying thresholds vary from bank to bank, but generally speaking, annual income should start from several hundred thousand euros.