Portugal · Inheritance · Fixed-fee law firm
Releasing a Portuguese bank account after a death
When someone dies, a Portuguese bank freezes their account straight away — and won't release it to the family without the right proof. If that account is all there is, you don't need a full estate service. We unfreeze and release it for you, for a fixed fee, without you leaving home.
You don’t have to become an expert in Portuguese banking law overnight — that’s our job. Where the person who died left only a Portuguese bank account and no property, this is the service for you: smaller and simpler than settling a whole estate, and priced accordingly.
If there is also a Portuguese property to deal with, the account is handled as part of that work instead — see administering a Portuguese estate.
Why the account is frozen — and what it takes to release it
When a person dies, Portuguese law requires the bank to freeze their account immediately. It is a protective measure — it stops anyone withdrawing money before the estate is properly sorted out. A death certificate on its own is not enough; the bank needs proof that you are a legal heir, and proof that the inheritance has been declared to the tax office.
That proof comes from two things we obtain for you: the declaration of heirs (habilitação de herdeiros), the official document confirming who inherits, and the inheritance tax filing (the Imposto do Selo declaration). For close family — spouse, children, grandchildren, parents — no tax is usually due, but the filing must still be made. Once the bank has both, it releases the funds.
The full picture, in plain English: the bank has frozen the account — what now?
What we do for you
- Find the accounts. We search Portugal’s central bank register to identify every Portuguese account the person held — not just the ones you know about.
- Prove the heirs. We obtain the habilitação de herdeiros, and a Portuguese tax number (NIF) for each heir who needs one.
- File the tax declaration. We make the Imposto do Selo filing the bank requires (no tax, in most close-family cases — but the filing is mandatory).
- Deal with the bank. We assemble each bank’s paperwork, submit the release request, and chase it — escalating firmly if a bank drags its feet.
- Account to you. When the funds are released, we reconcile the balance and confirm everything to you in writing.
We act for you under a power of attorney, so you never need to travel to Portugal, and everything is handled in plain English.
A typical situation
Margaret’s mother had retired to the Algarve and died there. She rented her home, so there was no property — but she left one Portuguese bank account with about €30,000 in it, frozen the moment the bank learned she had died. Margaret, in Bristol, didn’t need a full estate service. We proved the heirs, made the tax filing (no tax was due — close family are exempt — but the declaration is still required), and released the account to Margaret, without her leaving home. One account: €1,500 + VAT.
Our fee
A fixed fee, agreed in writing before we start, with third-party costs shown separately — never folded into our fee.
- One account: €1,500 + VAT.
- Two or more accounts: €1,000 + VAT per account.
Some estates are more involved — several accounts, a large balance, a joint account with a surviving spouse, or a creditor to deal with. If yours is, we’ll tell you at the outset and agree the right approach with you before any work begins.
VAT is charged at the Portuguese rate (currently 23%) and always shown separately, so our fee is clear.
How long it takes
Most Portuguese banks release an account within 4 to 12 weeks of receiving a complete request — some within a fortnight, others more slowly. We submit everything correctly the first time to keep it as short as possible, keep you updated, and press the bank if it falls quiet.
Common questions
Why has the Portuguese bank frozen the account?
Portuguese law requires the bank to freeze the account immediately on death — a protective measure that stops anyone withdrawing money before the estate is sorted out. A death certificate alone is not enough: the bank needs proof you are a legal heir (the habilitação de herdeiros) and that the inheritance has been declared for stamp duty (Imposto do Selo).
What does it cost to release a Portuguese bank account?
A fixed fee: €1,500 + VAT for one account, and €1,000 + VAT per account where there are two or more. Third-party costs are shown separately.
Do I need a full estate service if there is only a bank account?
No. Where the person left only a Portuguese bank account and no property, this standalone service is all you need — smaller and simpler than settling a whole estate, and priced accordingly.