Notes for international buyers
Before You Buy: the NIF and the Bank Account
Before you fall in love with a villa in Silves or an apartment in Lagoa, there is some unavoidable paperwork to tackle. In Portugal, nothing happens without a NIF.
WHAT IS A NIF? The "Número de Identificação Fiscal" is your tax identification number. You cannot sign a contract, open a bank account, or even set up electricity and water without one.
THE "FISCAL REPRESENTATIVE" RULE: If you live outside the EU (this now includes UK citizens post-Brexit), you generally need a "Fiscal Representative" in Portugal to obtain your NIF and handle communications with the Tax Authority, unless you sign up for the Tax Authority's electronic notifications.
OPENING A BANK ACCOUNT: Do not leave this for the last minute. Due to anti-money laundering laws, Portuguese banks have strict compliance checks. Opening an account can take weeks, not days.
MY ADVICE: Get your NIF and open your bank account BEFORE you make an offer on a house. This shows sellers you are serious and ready to proceed, avoiding delays when signing the CPCV.
Written on the date shown and updated in September 2026. The law and tax figures may have changed since. This article is general information, not advice on your particular case. For questions: info@pedrotabuada.com · +351 923 337 076.