Opening a Brazilian Bank account for Non-Residents

Can I have a Bank account in Brazil if you don’t live here? Yes.

The Central Bank of Brazil authorizes the opening of bank accounts in Brazil by individuals and entities who are non-residents.

However, in addition to the fact that Brazilian banks are not obliged to offer such service, each bank has its own procedure, which are, in most cases, unreasonable and too complicated.

Our partner Banco Itaú is the most appropriate option for this, as we describe below:

Pre-registration

Firstly, the non-resident should carry out a pre-registration for opening the account through this link, by filling it up with the following information:

– Full name;
– CPF (we may obtain this for you);
– E-mail for contact;
– Contact phone number;
– Level of education;
– Address in Brazil (we may arrange this for you);
– Parents full name;
– Marital status;
– City, state and country of birth.

This pre-registration will only facilitate the account opening, since the manager will already be supplied with the client’s basic information at that time.

Documents

The advantage of Banco Itaú in relation to others is that it does not require a permanent visa from the foreigners, and does not require the account holder to come personally to Brazil to sign the charter. The non-resident is allowed to appoint an attorney/representative who will perform the entire procedure.

For opening the account, you must submit:

– Representative’s identity and copy (certified) of the account holder’s identity;
– Representative’s CPF and copy (certified) of the account holder’s CPF;
– Proof of residence (can be from an ascending, descending or spouse that live in Brazil, as long as the relationship can be confirmed);
– Proof of income (it does not need to be related to IR. It can be any document showing that the holder will be able to pay for the fees for account maintenance).

After these procedures, one must wait for the bank statement informing that the account is ready for operations and transactions.