Bank Accounts Outside the European Union
From 11 January 2027, new European rules will change the conditions under which banks established outside the European Union may provide certain services — namely accepting deposits or granting credit — to individuals and companies established or resident in the EU. The new framework stems from Directive (EU) 2024/1619, known as CRD VI (Capital Requirements Directive).
The new rules do not prohibit maintaining or opening bank accounts outside the EU. In particular, customers will still be able, on their own exclusive initiative, to approach a banking institution outside the European Union.
The change may be relevant to anyone who has, or intends to have, bank accounts, deposits or other banking relationships outside the EU, particularly in the United Kingdom or Switzerland. There are exceptions and specific rules applicable to contracts entered into before 11 July 2026, so anyone in one of these situations may wish to use the coming months to check with their bank or advisers whether the new framework may have any implications for them.
Programa Regressar: It Is Still Possible to Benefit from the Tax Regime in 2026
The financial support measure for returning emigrants, granted through the IEFP, expired on 31 March 2026.
However, the tax regime applicable to former residents, provided for in Article 12-A of the Portuguese Personal Income Tax Code (IRS Code), remains in force.
Anyone who becomes a tax resident in Portugal by the end of 2026 may, provided that the other legal requirements are met, benefit from a 50% exemption from taxation on employment income and business and professional income, up to an annual limit of €250,000, for a period of five years.
Contacts
Ana Maria Castanheiro
Lawyer
a.castanheiro-10456l@adv.oa.pt
Disclaimer: The information provided above is of a general and informative nature only. It does not replace consultation with the relevant authorities or a qualified professional regarding any specific individual situation.