How to Open a Bank Account in Portugal from Brazil for Your Visa

You need a Portuguese bank account before you can complete your visa application properly, but most Portuguese banks require you to be physically present in Portugal to open one. That creates an obvious problem when you are still in Brazil. This is one of the most frequently asked questions among Brazilian D7 and D8 applicants, and the answer has changed significantly in recent years.

Why You Need a Portuguese Account Before You Land

There are two separate points in the immigration process where a Portuguese bank account is critical:

For the visa stage: The consulate does not strictly require a Portuguese account to issue the D7 or D8 visa. You can submit Brazilian bank statements as income proof. However, many experienced applicants and immigration advisors strongly recommend having a Portuguese account opened (or at minimum a Wise EU account) to show that you have begun establishing financial roots in Portugal.

For the AIMA stage: This is where the account becomes non-negotiable. When you convert your entry visa into a residency card at AIMA, you must demonstrate that you have the required savings buffer — approximately 12 months of income equivalent — in a Portuguese account. AIMA reviewers have been increasingly strict about requiring Portuguese-held funds, not just Brazilian statements, for this stage. The "mito da conta portuguesa" — that you do not need Portuguese funds until after you arrive — has collided with the practical reality that AIMA reviewers increasingly expect to see them.

Opening the account before you leave Brazil gives you time to accumulate funds, demonstrate regular transfers, and build the account history that AIMA expects.

Wise: The Easiest Starting Point

Wise (formerly TransferWise) offers a multi-currency account with a real Portuguese IBAN (PT50 prefix) that functions as a Portuguese bank account for most purposes. You can open it entirely online from Brazil, using only your CPF and Brazilian ID documents. There is no in-person visit, no Portuguese NIF required to open (though you will add the NIF later), and no minimum balance.

For the visa stage, many consulates accept Wise account statements as evidence of Portuguese banking. The Wise account shows a PT IBAN, appears in your name, and generates proper statements.

For the AIMA stage, Wise is less universally accepted. Some AIMA offices are comfortable with it; others prefer traditional Portuguese bank statements. The safest approach is to have both: a Wise account to start, and a traditional bank account opened as soon as you can do so (either remotely with a select few banks or in person after arrival on your entry visa).

Wise account for visa: Generally accepted, but confirm with your consulate or immigration advisor
Wise account for AIMA: Acceptable at some offices, not all — add a traditional bank account as backup

Millennium BCP: The Most Accessible Traditional Bank

Millennium BCP is the most commonly recommended Portuguese bank for Brazilian migrants, for a specific reason: they have a Non-Resident account opening process that can be initiated remotely and, in some cases, completed through their Brazilian partner network.

The process for non-resident account opening typically requires:

• Valid passport
• NIF (Portuguese tax number — obtainable remotely via fiscal representative)
• Proof of Brazilian address (utility bill or bank statement)
• In some cases, a Portuguese contact address or fiscal representative's address

Millennium BCP's online banking platform is in Portuguese and relatively user-friendly. Their main Brazilian contact point historically has been through Santander Brasil, which has a partnership arrangement — but verify current availability since these arrangements can change.

Once opened, you can fund the account via international transfers and generate the statement history you need for both the visa and AIMA stages.

Other Banks: What to Know

Novo Banco has a similar non-resident account option but the remote opening process is less consistently available than Millennium BCP's.

Caixa Geral de Depósitos (CGD) is the state bank and generally more conservative. Remote non-resident account opening is less common.

N26 and Revolut issue European IBANs that may be Portuguese, Lithuanian, or another EU country depending on your account. They are useful for spending but their statements carry less institutional weight than a full Portuguese bank at the AIMA stage.

Nubank and Inter (Brazilian digital banks) do not issue Portuguese IBANs and are not appropriate for satisfying Portuguese banking requirements. Use them for Brazilian expenses during the transition period.

What Documents You Need to Open the Account

For any traditional Portuguese bank, non-resident account opening requires:

• Passport (original or certified copy)
• NIF (essential — this is why getting the NIF first is the recommended sequence)
• Brazilian address proof dated within the last three months (bank statement, utility bill)
• Source of funds documentation (how you will be funding the account — typically your existing Brazilian bank statement or income documentation)
• In some cases: fiscal representative's details if you are using their address for the account

The NIF is the gating factor. Without a Portuguese NIF, no Portuguese bank will open an account. Get the NIF first, then the bank account. This is the correct sequence and the one that avoids the most friction.

The Recommended Sequence

1. Get the NIF remotely via a fiscal representative (takes a few days, costs €50–€150)
2. Open a Wise account with your Brazilian documents and add your NIF once obtained
3. Begin funding Wise with regular monthly transfers to build a transaction history
4. Attempt to open Millennium BCP non-resident account remotely or through their Brazilian network
5. Once in Portugal on your entry visa, open an account in person at whichever bank you prefer — all major banks open accounts for visa holders with a valid passport and NIF

The Brazil to Portugal D7/D8 Visa Guide includes the complete banking setup sequence, the specific documentation checklist for Millennium BCP non-resident accounts, and guidance on how to present your financial documentation to both the consulate and AIMA in the most favorable way.

Account Statements for the Visa Application

When preparing your bank statements for the D7 or D8 application, Portuguese and Brazilian accounts serve different purposes:

Brazilian bank statements: Prove your income (salary, pension, dividends) and the origin of funds. Three to six months of statements showing consistent income are the foundation of your income proof.

Portuguese bank statements: Prove that you have financial infrastructure in Portugal and, at the AIMA stage, that you have the savings buffer. The AIMA buffer requirement for the D7 is approximately €11,040 for a single applicant (12 months × €920) in a Portuguese account.

Nubank and Inter statements are generally accepted by Portuguese consulates for Brazilian income proof, provided the statement is the official PDF version with the bank's digital signature — not a screenshot or screen recording. Consulates have flagged informal Nubank exports before, so use the official export function.

Converting Reais to Euros for the Buffer

The AIMA savings buffer must be in euros in a Portuguese account. That means you need to transfer funds from Brazil to Portugal well before your AIMA appointment.

Exchange rates between BRL and EUR have been volatile. The practical advice is to transfer in tranches over several months rather than one large transfer, both to reduce exchange rate risk and to create a visible pattern of regular funding in your account statements (which is exactly what AIMA wants to see).

At a 1:6 EUR/BRL rate, the single-applicant buffer of €11,040 requires approximately R$66,000. Factor in wire transfer fees and exchange spread — typically 1.5% to 3.5% depending on the method — and budget R$70,000 or more to ensure the Portuguese account shows the full required amount.

Ready to start your Portugal banking setup? The Brazil to Portugal D7/D8 Visa Guide walks through the full NIF-to-bank-account sequence, the statement presentation format for each visa type, and the AIMA savings buffer calculation for different family configurations.

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