If you keep your assets in one place, you are at risk! This maxim is as relevant as ever. Even residents of stable well-developed countries seek to diversify risks, and there are plenty of opportunities for that now. You can get economic citizenship in another state, make investments in property abroad, set up a company in a foreign country (and manage it online), and open an offshore account to keep a part of your assets there.
This short post is about an overseas account in Portugal. You don’t know much about offshore banking? Please read an overview on our portal before you open an offshore account online in Portugal. This is a perfect solution to benefit from enhanced asset protection, excellent investment opportunities, and convenient banking. You will have a Plan B solution if the account in your home country is suddenly frozen, and it may sometimes be of critical importance.
Visit our portal to get in touch with specialists who will help you with account opening in Portugal (and many other jurisdictions). We provide a hassle-free experience for those who need a second passport, want to acquire real estate abroad, establish a company in a foreign country, and so on. Plan B arrangements have never been easier, so do not hesitate to contact us!
If we look at the Portuguese economy, we will easily see that France, Switzerland, or the UK are stronger. However, this is an advantage in this case as Portugal strives to attract more capital by providing advantageous conditions to non-residents. It boasts quite a robust banking sector that has less stringent requirements for foreigners than other EU countries. A personal account will also help you get a residence permit in Portugal with a view to acquiring EU citizenship.
Choosing a bank is not that easy as you have to take into account many factors and look at the latest news and customer feedback. With that in mind, our experts have selected the best private bank in Portugal to open personal accounts for our customers, and we will simply call it the Bank. It is the best choice by the balance of characteristics, and none of our customers have regretted opening an account there.
In addition to a personal account, you can:
- Set up a savings account to accumulate your passive income receipts, for example
- Get a VISA card for your convenience (debit or credit one)
- Obtain a Free Web card to make purchases online
- Open a deposit box to keep any assets
- Use convenient mobile or online banking
Special Offer: Prestige Program
If you buy a package of services, it usually costs less. And this is a win-win situation for the bank that satisfies the customer’s needs in the best way possible and for the customer that gets comprehensive services in one place at a lower fee.
With that in mind, the Bank has developed a Prestige Program for its customers that will cost EUR 429 less than if you ordered each service separately. The package offer will make it possible for you to:
- Open a personal account on more beneficial terms
- Make wire transfers quickly and easily (you will not have to pay a standard fee for transfers in euros, Swedish krones, or Romanian lei if you make the payment using IBAN and BIC SWIFT details)
- Issue checks
- Order debit and credit cards
- Enter into insurance agreements
- The debit card issued under the Prestige Program is not subject to an annual fee of 20 euros
- You will be able to link the accounts of your relatives to your personal account to make internal transfers free of charge
- If you decide to rent a safe deposit box, you will pay a discounted annual fee (20% less)
- You will have a personal manager assigned to you who will take care of your banking affairs, help you with investment projects, and offer you the best asset management strategies possible
- Benefit from Dossier Prestige, a service that gives you an overview of your assets and helps you make decisions regarding investments.
Let’s look at the conditions you have to fulfill to be eligible for the Prestige Program.
The exact figures depend on the customer’s age and bank activity, so we will take a case of a 35-40-year-old customer for the sake of illustration. He or she will be able to join the Program and pay 4.5 euros a month (maintenance fee) on the following conditions:
- The amount of monthly deposit he or she keeps on the account is at least 35,000 euros
- The minimum account receipts are 500 euros a month
The maintenance fee rate is set at 4.5, 6, or 15 euros on a case-by-case basis. For example, if the incoming funds are less than 500 euros, it will amount to 6 euros.
Please contact us using the above link to join the Prestige Program and keep your assets in a safe place.
Opening an Account: Procedure
If you use the expert’s help, you will not have to study the laws of the country or start the procedure once again just because the documents were prepared in the wrong way: we will take care of your success at every step. Here is what you will have to do:
- We will provide a list of documents to collect. You scan them and send them to our e-mail. We thoroughly check each document to make sure everything is alright and then send your package to the Bank.
- We wait for the Bank’s approval. As soon as it is given, you will receive forms in your email, and we will give recommendations on how to fill them. You will fill them out and sign them, and send all the forms to our expert to be checked. At this stage, the Bank will also assign an IBAN to your account.
- As soon as we make sure that everything is in order, the originals of your documents and forms are sent to the Bank by courier mail.
- The Bank receives your documents and activates your account within approximately 3 business days.
We highly recommend the Bank in Portugal and its Prestige Program as you will get high-quality European banking at affordable rates. If this is something you are looking for, follow the above link to our portal and contact us for more details. Do not hesitate to ask questions and take advantage of a really convenient banking product!