Banking in Madeira
A reliable corporate or personal bank account in Portugal is a critical step in establishing yourself in Madeira. MadeiraLab works with every major bank on the island and supports you through the full account-opening process, from document preparation to follow-up with relationship managers.
Corporate bank accounts
We help MIBC-licensed companies, standard Madeiran companies and foreign entities open corporate accounts at leading Portuguese banks, including Millennium BCP, Novo Banco, Santander, ABANCA, Caixa Geral de Depósitos and BPI.
Portuguese banks have raised their compliance and KYC bar sharply in recent years. We prepare you properly for it, so the corporate documents, the source-of-funds narrative and the business description arrive in the format compliance teams expect. That alone cuts delays and reduces the risk of rejection.
Personal bank accounts
We also help individuals, residents and non-residents alike, open personal current and savings accounts in Portugal. A personal account is often needed as part of the residency process, and early access to Portuguese banking makes day-to-day life much simpler.
Banks we work with
- Millennium BCP: the largest private bank in Portugal, with a strong international focus
- Novo Banco: full-service retail and corporate banking
- Santander Portugal: part of the global Santander group
- ABANCA: strong regional presence in Madeira
- Caixa Geral de Depósitos: state-owned, widely used for real estate transactions
- BPI (CaixaBank): strong for corporate clients and trade finance
Start the account-opening process early. Contact MadeiraLab to begin document preparation.