Mostrando postagens com marcador opening a bank account. Mostrar todas as postagens
Mostrando postagens com marcador opening a bank account. Mostrar todas as postagens

quarta-feira, 4 de setembro de 2013

How to obtain a CPF (Brazilian Taxpayer registry)




       When a foreigner decides to live or to invest in Brazil, one of the first things that he will have to do is obtaining a CPF document ("cadastro de pessoas físicas").  Every person that has a CPF registration recieves a number, which is a requirement for all kind of brazilian procedures, as for instance, to become a partner in a brazilian company, to open a bank account in Brazil etc.

With that in mind, here follows some basic information regarding CPF obtention:

    Foreigners may request the CPF through the website of the Brazilian Federal Revenue (http://www.receita.fazenda.gov.br/aplicacoes/ATCTA/CpfEstrangeiro/fcpf.asp) and then attend the nearest Brazilian embassy with all the document required for a personal interview (the interview is merely ceremonial).

       If they are already here in Brazil, they may request the CPF in post offices, or in any branch of "Banco do Brasil" or Caixa Economica Federal (both are very famous banks). Not all  agencies and post offices offer such service, so we advise you to call before atteding in person. 

       You should bringh with you (i) passport, (ii) adress, (iii) and a document bearing your mother's name. There will be a small fee (maybe 2USD).

     After that, you must go to the nearest Revenue Service office bringing the proof of paymentof the fee and request a CPF number. It should be granted on the spot. 


quarta-feira, 26 de junho de 2013

Opening a Brazilian Bank account for non-residents

See also:

-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.