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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.
Introduction:
An introduction to money and taxes
Although the Portuguese generally prefer to pay cash (dinheiro de contado), rather than use credit or charge cards, it’s wise to have at least one credit card when visiting or living in Portugal (Visa and Mastercard are the most widely accepted). More...
Banks:
Where to manage your finances
Banking in Portugal has changed out of all recognition in the last decade, during which the number of banks and branches has increased considerably, although during recent years there have been many take-overs and mergers. More...
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). More...
Cost of Living:
How much does it cost to live in Portugal?
No doubt you would like to try to estimate how far your euros will stretch and how much money (if any) you will have left after paying your bills. More...
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. More...
Income Tax Liability:
Who is liable to pay income tax?
Your liability for income tax in Portugal depends on whether you’re officially resident there. More...
Income tax allowances:
How can I pay less?
Before you’re liable for income tax, you can deduct social security payments and certain costs from your gross income and from the sum due after establishing your tax base. More...
Income Tax Returns:
Filing and payment
The tax year in Portugal is the same as the calendar year and residents are sent a tax return to complete at the beginning of the year. More...
Further Links about Money