Business Bank Account Requirements in Portugal
Published by Corpy
https://corpy.xyz/portugal/banking/portugal-business-bank-account
Corpy business-formation guide, fact-checked and corrected.
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Correction
Correction history
Every accepted correction to this page is recorded with the exact change, so readers can see how the page improved over time.
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Before
According to Banco de Portugal Circular-Letter CC/2022/00000047, banks supervised by the Banco de Portugal must apply enhanced due diligence to non-resident customers... Non-EU residents must appoint a Portuguese tax representative to receive correspondence, which is a statutory obligation under Article 130 of the General Tax Law (Lei Geral Tributaria).
AfterBanks supervised by the Banco de Portugal must apply enhanced due diligence to non-resident customers, which is the principal reason why non-resident directors face longer onboarding processes than Portuguese residents. Non-EU residents must appoint a Portuguese tax representative to receive correspondence, which is a statutory obligation under Article 19 of the General Tax Law (Lei Geral Tributaria).
Why: A fabricated Banco de Portugal circular-letter citation (CC/2022/00000047) was invented to support a due-diligence claim, and the tax representative requirement was misattributed to Article 130 LGT instead of the correct Article 19 LGT. Note: the tracker records both fixes as complete, but the live article file still shows the original fabricated citation number and the incorrect Article 130 reference in these passages as of this review, so this before/after reflects the tracker's intended correction rather than a confirmed final state; flagging for a follow-up check that the edit actually landed.
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