Moving from SA? Banking is the hard part
South Africans face unique challenges moving to Portugal: SARB exchange control approvals, Portuguese banks that are wary of new ZAR accounts, and a D7 visa process that demands rock-solid income proof. We track all of it.
Get your free personalized checklistThe challenges south africans face
SARB and exchange control
Moving funds out of South Africa requires SARS tax clearance plus SARB approval for amounts over R1 million. Start this 2-3 months before you need the money.
Portuguese banks say no
Many Portuguese banks decline new accounts for South Africans without a Portuguese NIF and proof of address. ActivoBank and Millennium BCP are typically the most open. Open an account before you cancel your SA one.
Criminal record apostille
DIRCO apostille of the SA police clearance takes 4-8 weeks. Start it before you even begin the visa application — it expires 3 months from issue.
Key deadlines for south africans
- ●Police clearance apostille (valid 3 months)
- ●Emigration tax clearance from SARS (before transferring funds)
- ●D7 income proof (12 months of bank statements required)
- ●Driving license exchange (within 2 years, must be SADC-compliant)
Guides you'll need
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Portal das Financas
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Last reviewed: April 10, 2026
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