If you are doing business in Brazil, a Brazilian bank account will prove a valuable necessity. The Central Bank of Brazil allows both foreign individuals and businesses to open bank accounts in the country. However no bank is required to offer services to foreigners, most bank tellers aren’t not even aware of this “special” procedure. Not to mention every bank will have their own unique procedure for setting up an account.
At CKSA, we provide you all the support for opening a Brazilian bank account
Documents required for opening a bank account in Brazil
Foreigners opening a Brazilian bank account must have a CPF number, which is the identification for individual taxpayers. Additionally, foreigners need a RNE, the identity card issued to foreigners in Brazil. However, if the applicant doesn’t have a RNE, presenting a valid approval document will be enough.
At the bank, the manager will ask for your passport, proof of residence and proof of income in Brazil. These documents must be translated into Portuguese, which can make the process complicated for some applicants.
In order to open a Brazilian Bank Account, most banks require the foreigner to be a permanent resident of Brazil. In other words, foreigner must have a resident visa with a minimum of 12 months of validity. On the other hand, you may find several banks in large cities like São Paulo which are willing to open accounts for those with only a local address. However that’s a relatively new trend.
In order to fulfill the local address requirement, CKSA provides you a real banking address in Brazil. We will start the bank account opening process and send an attorney for the interview. CKSA makes the whole process of opening a Brazilian Bank Account easier for non-residents. As a longtime player in the Brazilian economy, we have broad legal expertise with Brazilian financial market.
CKSA’s Brazilian Bank Account Opening Service*
– Price: US$ 4,000.00 –
*Your checking or savings account comes linked with a Bovespa Brokerage Account
Brazilian Bank Accounts modalities:
Brazilian Checking Account
Bank account with or without “cheque especial” (margin limit). Account holder makes transactions through debit cards, checks and online banking. It may be an individual or joint account. You have access to all investments, products and services of the financial institution.
Savings account is not only a modality of brazilian bank account, but one of the most traditional financial investments in Brazil. Brazilians consider this kind of account a safe have. Based on the resources saved, the bank pays an interest rate of 0.5% per month, applied to the values updated by the Referential Rate (TR). The financial institution credits the Yields monthly and no income tax is charged.
No Red Tapes
With CKSA Consulting Services, it’s easy to open a Brazilian Bank Account and do business in Brazil. You manage your investments while we deal with the bureaucratic part for you.