Eligibility

This article provides information on the eligibility criteria, including the industries and countries that are accepted.

1. What types of businesses does Rauva onboard?
2. Is Rauva crypto-friendly?
3. Can I open an account for a Non-Profit Organization or an IPSS?
4. Can I open a Rauva account if I or one of the other beneficiaries is a US citizen or taxpayer?
5. Can I open an account if I'm not in Portugal?
6. Can I open an account as a refugee?

1. What types of businesses does Rauva onboard?

For the time being Rauva can onboard:

• Freelancers, as long as duly registered with the Tax Authority.
• Sole Proprietorship - ENI or Empresário em Nome Individual.
• Single-Member Limited Company - Sociedade unipessoal por quotas, LDA.
• Limited Liability Company - Sociedade por quotas, LDA.

2. Is Rauva crypto-friendly?

At this moment, we don't accept crypto related businesses or funds originating from crypto.

You are, however, able to transfer your funds from your Rauva account to a cryptocurrency exchange.

Furthermore, if you are a freelancer or a company operating in the cryptocurrency sector, unfortunately, it will not be possible to open an account with us.

3. Can I open an account for a Non-Profit Organization, Condominium, Association or for an IPSS?

Until further notice, Rauva only accepts self-employed people, sole proprietors, one-person companies and private limited companies.

4. Can I open a Rauva account if I or one of the other beneficiaries is a US citizen or taxpayer?

Unfortunately, we won't be able to open an account if you're a US taxpayer or citizen who holds 25% or more of the company.

According to the FATCA (Foreign Account Tax Compliance Act) banks must give financial information to the IRS and Treasury Department in order for them to be able to identify everyone who is liable to US taxation.

We advise checking here, or your accountant for more information on this topic.

5. Can I open an account if I'm not in Portugal?

No, not for the time being.

We're only onboarding businesses and freelancers registered in Portugal.

6. Can I open an account as a refugee?

Yes, refugees can open an account in Portugal. However, there are specific requirements that need to be met.

What are the requirements for refugees to open an account?

Refugees can open an account if they are registered as freelance workers in Portugal. Additionally, they need to provide evidence of their residency in Portugal. Meeting these requirements ensures eligibility for opening a bank account in the country.