Money - Personal and business

[growler]

Rollover is 180 days, not 30.

O art. 39 da Lei 11196/2005 preceitua:

Proves what I have said before, even "professionals" here give you different answers all the time. Not sure if they are stupid or simply trying to rip us off all the time or BOTH. The jury is still out on this one.

"Did you fill out the form using program GCAP2009.exe?
It figures out what deductions to apply based on acquisition date and sale date."

No not yet. I haven't actually sold yet. Is this an official link or can I simply put in todays date to get the figures?

 

[jeduardo]

Is this an official link or can I simply put in todays date to get the figures?

Download and install program GCAP2009.exe on your pc.
It should be reliable as to calculations since program was made by Receita Federal.
Nothing is sent to Receita Federal and you can run as many scenarios as you want.
Nice to know what the bottom line is for different sales price.

 

[Blc]

Almost impossible but I got mine in following manor:

Buy stuff through Internet and pay via Boleto at Lottery store with no need for Bank account. The good news is that purchasing big ticket items by Boleto will eventually get you calls by phone/mail offering credit cards. Buy from well-known vendors such as Americanas, Submarino, PontoFrio, Casa&Video, etc and they will sell your name and phone number to other banks. I got my Hipercard and Itaucard that way. And the frosting on the cake is when I got a call from UniBanco offering me a checking account with Visa/MasterCard; no proof of income or RNE was required. Use the cards and over time they will bump your credit limit.
So...if you are not in a hurry this works and certainly better than complaining or saying that it just can't be done. BTW, you will have to speak enough Portuguese so that you can accept these offers.

This is great if you live in Brazil Like us I have a business account with 3 credit cards and 40.000 reais in credit. We have many clients who would like to open accounts to pay bills relating to properties in Brazil. Many have not been to Brazil purchased un seen when thay ask about bank accounts in future do you think I can tell them this they will think I am crazy.......Ok for the average client not living in Brazil who can not buy stuff on the internet and wait untill he gets a call on his US mobile Its not possible...........

 

[Deane]

BLC - It is possible for foreign nationals to open a non-resident account. I know of a bank that is offering this service, however there is a monthly charge to administer the account.

Out of interest, do your clients send small amounts of Real home from rental income? Is this what they would use it for? Just wondering if there are alternatives.

 

[Blc]

BLC - It is possible for foreign nationals to open a non-resident account. I know of a bank that is offering this service, however there is a monthly charge to administer the account.

Out of interest, do your clients send small amounts of Real home from rental income? Is this what they would use it for? Just wondering if there are alternatives.

HI MC

Our clients do not receive rental incomes at present as properties are not complete. What they would like is a bank account so they can take advantage of exchange rates send funds to Brazil and make monthly payments for properties via the bank account.

Not possible even if they could get bank account as funds have to go via Central bank and be registerd to avoid problems in the future.

I know banco Rendimento Sau Paulo we used tham for 4 years they are not realy a bank but a money echange set up that liket to call themselves a bank. only 1 office in SP no check books no cards to DD set ups only transfers via fax notification. What they offer is to recive the money exchange or hold for you the funds. This system works for some transactions......... Once again it is not possible to open bank account in Brazil for non Residents....... dont waste your time.......

 

[Deane]

HI MC

Our clients do not receive rental incomes at present as properties are not complete. What they would like is a bank account so they can take advantage of exchange rates send funds to Brazil and make monthly payments for properties via the bank account.

Not possible even if they could get bank account as funds have to go via Central bank and be registerd to avoid problems in the future.

I know banco Rendimento Sau Paulo we used tham for 4 years they are not realy a bank but a money echange set up that liket to call themselves a bank. only 1 office in SP no check books no cards to DD set ups only transfers via fax notification. What they offer is to recive the money exchange or hold for you the funds. This system works for some transactions......... Once again it is not possible to open bank account in Brazil for non Residents....... dont waste your time.......

Hi Blc,

That’s not entirely accurate. Banco Rendimento are a commercial bank, so unlike HSBC for example, their main business functions do not involve private individuals.

The non-resident bank accounts that I can help arrange can be used in the manner you describe. For example, if your clients have to make monthly payments over x time to complete a purchase, this will be stipulated within the purchase contract I presume? If so, then they can transfer their total amount when the exchange rate is favourable, hold it in that account, and Banco Rendimento can arrange regular monthly transfers.

All transactions must be registered with the central bank, and we ensure this is done. We can also provide the client with proof of this.

 

[schermuly]

Thanks Jeduardo, very interesting. I tried the link a few times but it didn't work. No matter, can you briefly say what the "automatic deductions" are? I was only aware of deductions being possible for improvements made which obviously aren't done automatically.

I have seen mention somewhere else recently about reducing CGT down to 6%. If this is the case then it is going to make a big difference to the actual amount I end up with.

Hi again mikesmith, thanks for your input. Made me think again though about your client who switched ownership, as 6% of the profit must be less than 6% of the sale price? Now I am confused!!!

Hi,
Link does not work because one word in misspelled - it is 'Apuracao' instead of 'Apurao' - hope this helps.
Jo S.

 

[Deane]

There are so many people on this forum saying non residents cannot open bank accounts, and lots on here have opened one.
Maybe this will help to clarify
Non-resident foreigners in Brazil may hold local currency accounts in Brazil, subject to Heading 1, Chapter 13, Section 1 of the International Capital and Foreign Exchange Market Regulations (Regulamento do Mercado de Câmbio e Capitais Internacionais) of the Central Bank of Brazil.

Foreigners who are temporarily resident in Brazil can hold foreign currency accounts, subject to Heading 1, Chapter 14, Section 7 of the International Capital and Foreign Exchange Market Regulations (Regulamento do Mercado de Câmbio e Capitais Internacionais) of the Central Bank of Brazil.

I too has noticed many people stating that non-residents can not open bank accounts but this is not true. I think the main reason for this assumption is that they can not find a bank who is willing to open one.

I know of a bank that will open non-resident accounts, but you need to have an address on Brazil. Not a problem is you own/ are buying a property I guess!