Portugal Guide: Money
Our money guide provides information on bank accounts, credit cards and income tax. If you need to open a bank account, we will explain how to do it - step by step.
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Accounts
How to open a bank account in Portugal
Although it’s possible for non-resident homeowners to do most of their banking via a foreign account using debit and credit cards and euro-cheques, you will still need a Portuguese bank account ( conta bancária) to pay your Portuguese utility and tax bills (which are best paid by direct debit).
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Income tax
An introduction to Portugal's income tax
Personal income tax ( Imposto sobre o Rendimento das Pessoas Singulares/IRS) in Portugal is below the EU average, although it has increased considerably in recent years, and when social security taxes are included it’s comparable with that in most other EU countries.
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