Does anyone know what happens to a Portuguese bank account after your visa expires? I have a GV (Titulo de Residencia) which has been extended to the end of June. It’s such a hassle to deal with this, and so expensive, I’m probably going to just let it lapse. I’m wondering what happens to my bank account. I still have property and have automatic debit for things like water, gas, electricity, and insurance. I wonder if my health insurance will still be valid if my visa lapses but I continue paying premiums.
It depends on your bank. Some banks will try to purge your account and you will endure a 9+ month process of hellish futility of supplying endless documentation. Other banks are more relaxed about it.
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Bank account : non-resident accounts are permitted, change the address for your statements to your home country address, (many countries will be supported)
Insurance : check the terms & conditions, many policies have a condition of being physically resident / registered with a GP / not absence for a certain duration every year
Thanks for the reply. I guess I could ask but am not sure bringing it to their attention is a good idea, either. My visa is still good until at least June because they’ve all been extended. I tried opening up an account with Activo bank but they wouldn’t accept my extended Titulo de Resedencia because it isn’t printed on the card.
To start with, i opened my babk account as non-resident and before getting residence permit. I am still keeping foreign address on bank records. MillenniumBCP never asked me for copy of my residency permit to date, but annual updating of passport copy and confirming address remains the same.
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Each bank maybe different. I opened a BCP Millenium account for my GV in 2020, while still a non-resident. The bank asks for a passport/income/address update each year. They never asked about the Portuguese residence permit.
I suggest you open the account using your passport as ID. There’s no government requirement to be resident to open or maintain an account.
Try another bank and approach them as a non-resident. Unless your home country is ‘blacklisted’ there should be no issue.
Good idea. I might try that.
If you can open an account with just a passport that would be ideal. Using your residence card will get your account flagged as a ARI applicant and you are subject to additional scrutiny. Although now that the residence card mentions entrepreneurial activity, I don’t know how they will be able to distinguish.