See also:
Can you 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.
-Financial investments by non-resident in the Brazilian financial and capital markets
Can you 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.
Opening a non-resident bank account will require a - CPF (If you don`t know what a CPF is, please read this article).
These accounts are usually very limited in the services they provide. Also, they are expensive to maintain.
The non-resident account is more appropriate for investments in Bank Bonds (that provide interests similar to the Brazilian basic interest rates) and Poupança (a savings account that pays 6% of interest per year).
Some banks will be willing to open bank accounts for non-residents against a minimum initial deposit of USD 100,000.00.
I have contacts with a limited number of investment banks that provide this service. But compliance evaluation is very strict.
Some people will prefer to incorporate in Brazil and use a corporate account, instead of managing a non-resident account.
