Eligibility
This article provides information on the eligibility criteria, including the industries and countries that are accepted.
- Accepted Business Types
- Restricted Industries
- Geographical Requirements
- Current Account Restrictions
- Special Circunstancies
Accepted Business Types
We currently accept the following business types registered in Portugal:
a) Freelancers
- Requirement: Must be registered with the Portuguese Tax Authority
- What you need: Valid NIF and tax registration certificate
b) Sole Proprietorship (ENI)
- Full name: Empresário em Nome Individual
- What you need: Valid ENI registration certificate
c) Single-Member Limited Company
- Full name: Sociedade unipessoal por quotas (LDA)
- What you need: Company registration documents
d) Limited Liability Company
- Full name: Sociedade por quotas (LDA)
- What you need: Company registration documents and shareholder information
Restricted Industries
Below you will find a list of Swan's restricted industries:
Category |
Restricted activities |
Substance-related activities |
• Tobacco culture and products • Manufacture of tobacco products • Marijuana culture and illicit marijuana products |
Financial and regulatory risk activities |
• Shell banks • Trust & off-shore company service providers • Company domiciliation businesses • Non-licensed money service businesses and payment service providers • Crypto-assets trading, exchange and custody platforms • Crypto-currency mixing activity • Money remittance • Currency dealer & exchangers, FOREX |
Industries with a high environmental impact |
• Extractive industries such as oil, gas, and coal, including the extraction, processing, commerce, and other related activities • Nuclear material and power generation • Palm oil production • Polluting or dangerous industry chemicals |
Controversial or sensitive activities |
• Weapons and defense materials providers • Prostitution and escort services • Adult entertainment (pornography or similar activities) |
Gaming and entertainment |
• Gambling industry, including video games classified as online gambling • Game publisher of online games that permit value transfer between gamers • Online bartering services |
Other |
• Religious activities • Precious stones, gems, and jewels |
Geographical Requirements
Portugal Registration Required
- Your business must be registered in Portugal
- We currently only serve Portuguese-registered entities.
Current Account Restrictions
Cryptocurrency Businesses
Policy: We don't currently accept businesses involved in cryptocurrency trading, mining, or related services.
What you can do:
- Transfer funds FROM your Rauva account TO cryptocurrency exchanges
- Use Rauva for non-crypto business activities
US Taxpayers & Citizens
Policy: We cannot accept US taxpayers or US citizens who own 25% or more of the company.
Why this restriction: FATCA (Foreign Account Tax Compliance Act) compliance requirements mandate extensive reporting to US authorities.
Learn more: Visit the IRS FATCA information page or consult your accountant.
Non-Profit Organizations
Currently not accepted:
- Non-profit organizations
- Condominiums
- Associations
- IPSS (Instituições Particulares de Solidariedade Social)
Why: We're focusing on business accounts for now but may expand to other entity types in the future.
Special Circumstances
Refugee Status
Good news: Refugees can open accounts with Rauva!
Requirements:
- Must be registered as a freelance worker in Portugal
- Must provide evidence of residency in Portugal
- Standard freelancer documentation applies