How to open bank account for US resident

Any American can easily open bank account in Portugal online, if you have following documents below


  1. Passport
  2. NIF
  3. W9 signed
  4. SSN document
  5. 1040 or 1099 or w2 of 2022
  6. Proof of income

1) Passport

Your document must meet the following requirements:

  • High-quality scanned PDF image or photo of your Passport
  • No fingers on the passport
  • All 4 corners of passport visible, 2 pages on 1 photo
  • Passport is signed
  • Passport is valid

Examples of good and not-so-good passport images you can see here.

2) NIF

NIF is a Portuguese tax number. Here you can see a good example how NIF should look like.

If you don't have it yet, you can order it here.

3) Form W-9

You just need to print form W9, write name same as in your passport, put the date, sign and scan.

*W9 is obligatory to provide for all US residents due to FATCA rules.

4) Why i need to provide SSN?

For USA passport holders and clients with US tax residency is required to provide SSN:

  • SSN card with your signature (scan of both sides) .
  • Tax form 2022 with your full name and full SSN number visible, not XXX.

*It is safe as this data is shared only with the bank. All clients have to provide tax number document from the country of residence (address of this country is written in your NIF).

5) Forms1040 or 1099 or w2 of 2022 only

Requirements for address proof in America:

Forms 1040 or 1099 or W2

    • issued less than 1 year ago
    • the address is the same as in your NIF
    • issued on your full name as in passport
    • have a proof of submission to the tax office.

Driving license (only issued less than 1 year ago and not before)

*No bank statements or bills are accepted as proof of address in USA.

6) What is considered as proof of income?

Document with your name as in passport, issued less than 1 year ago, with amount of your monthly income, mentioning your type of activity or job title. Proof of income can be a signed work contract, company statement or tax proof of self-employed registration or pension.

You can open bank account online if you can proof your funds as:

  • Employed (w2 is not a proof of work)
    • work declaration (signed and stamped by head of department)
    • payslip (issued less than 3 months ago)
    • contract (issued less than 1 year ago, signed by both parties)

  • Self-employed (occupation should be written)
    • proof of registration of freelance activity (with activity codes and name as in passport)
    • Plus tax declaration 2022, proving activity still exists (form 1099)
    • Note just the contractor agreement and invoice is not enough as a proof.

  • Company owner
    • company certificate issued less than 1 year ago + written that you are the director
    • payslip if you get salary
    • tax declaration 2022 if you get royalties (form 1099).

  • Passive income ( investor\ property owner)
    • signed rental agreement(s) + proof of deposits
    • Financial statements that show your investments (issued within the past 6 months)
    • Form 1040. Part1.N5 (rental real estate, royalties.. etc). Plus Supplemental income or loss page

  • Retired
    • state pension letter or statement with your full name and type of pension age\ conditions (issued less than 1 year ago) or could be retirement investment account
    • In Form 1040 of 2022 in 5a, 6a should be pension or social security benefits declared.
    • if you live on your assets (proof of source of funds)

  • Unemployed (housewife or student)
    • If student is in Portugal. Proof of enrolment, student card, bank statement.
    • An unemployment verification letter was issued by the employment office. Form 1040. Part 1.7. Unemployment compensation.
    • if you live on your assets (proof of source of funds and tax declaration 2022)
*In this case we open the joined account with the partner, who has funds.

Documents should be signed manually by pen, if you can`t provide a document with a manual signature, please be sure that your e-signed documents look requirements for EU digital signature and this signature is clickable for the check. Here is an example how it can look:

Here you can read more about income proofs and see all requirements, examples.

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