Brazil: Opening A Bank Account In Brazil!!

[JMBroad]

Hi there, here are your answers:

1)The Law does not prohibit the banks to open bank accounts for non-residents, however, the Banks in Brazil chose not to open regular checking accounts, unless the client is a legal resident. However, there are quite a few banks that open CC5 Accounts, these accounts are for non-residents.

2)My clients usually have me pay for the bills on a monthly basis. But you can also hire a management company, open a CC5 account, and/or have a friend pay for such bills.

Regarding the original question

 

[shawnpuett]

Bank account

Opening an account is not easy but there are other alternatives. The simplest is complicated hauhaha. Well if you can get a student visa you can apply at the policia federal an ID card called cedula de identidade de estrangiero, this ID generates an RNE# with that your cpf and a passport you can open a student Bank account with the banco do Brasil. The validity of this ID expires in one year but you bank account does not expire. The ID can be renewed every year if you cantinue to study in Brazil the card take up to 3 months to arrive at the Policia Fedaral they do the process for you and the card is generated from Brasilia. Until your card arrives you are given a paper ID from the policia Federal. Its possible you can open an account just with the temporary ID. When the card arrives it will not be sent to you you must pick it up at the policia federal. you can check online or just return to the policia federal after 3 months it should be there but they will not notify you when it arrives.
The other option is open a buisness LMTD. in the section of the contrato social "administrador" you will need a brazilian to be your administrator unless you have a permanant ID. Then he will give you a procuracao to give you authority to do bank transactions. This person will also be able to conduct buisness transactions and administor your account so it need to be a trustworthy person. Dont open a buisiness unless you are really going to have a buisiness.
Dont get confused about you have to bank with the central bank of brazil banco central) bla bla bla. The central bank of brazil regulates all foriegn transactions no matter who you bank with.
If you plan on doing a investment visa to gain permanancy you will need to invest 50,000 usd into a buisiness acount. You will need to register your company with the banco central so that you can generate a contrato de cambio or sisbacen proving your investment to send with your visa aplication at the MTE who will send to Brasilia then brasilia sends to your consolate then you go back and change your visa. After this process you can take the Brasilians out of your business contract and bank account by doing an alteration to your contrato social at the junto comercial.
Its simple hahuaha