How to Open a Bank Account in Brazil as a Foreigner
Can a foreigner open a bank account in Brazil? Yes — and which route you take depends on one thing: whether you legally reside in Brazil. If you hold Brazilian residency (a CRNM card), you can open a regular account like any resident. If you live abroad, you can open a non-resident account — in Portuguese a Conta de Domiciliado no Exterior, or CDE — which is regulated by the Central Bank and offered by only a handful of banks. Either way you need a Brazilian tax number (CPF), which a non-resident can obtain from abroad. A regular account usually requires an in-person visit; a non-resident account can often be opened remotely, in many cases through a lawyer acting under a power of attorney.
Reviewed by Luciano Oliveira, Esq., LL.M. — Managing Partner, attorney admitted in Brazil, Texas, and California. Last reviewed: July 2026.
This is general legal information, not legal or tax advice, and reading it creates no attorney-client relationship. Bank requirements change and vary by branch and client profile; confirm the specifics for your situation before acting.
The two kinds of account you can open
For a foreigner, “a bank account in Brazil” is really two different products, and choosing the wrong one causes most of the friction people hit at the branch. The regular (resident) account is for foreigners who live in Brazil and hold a residency card. The non-resident account (CDE) is a distinct, Central Bank–regulated product for people who do not reside in Brazil.
| Feature | Regular (resident) account | Non-resident account (CDE) |
|---|---|---|
| Who it’s for | Foreigners legally residing in Brazil | Foreigners living abroad; also Brazilians who left (Saída Definitiva) |
| Brazilian residency | Required | Not required |
| CRNM card | Required | Not required |
| CPF (tax ID) | Required | Required (obtainable from abroad) |
| Open remotely | Usually no — in person | Often yes — online or by attorney/POA |
| Typical providers | Banco do Brasil, Santander, Itaú, Bradesco; digital: Inter, Nubank, C6 | More favorable: Rendimento, Santander, BTG Pactual. More demanding (high invested balances or substantial monthly fees): Banco do Brasil, Itaú, Bradesco |
| Main limits | Needs residency + Brazilian address | Individual only; reais only; fewer banks offer it |
Which account is right for you?
If you are moving to Brazil, on a visa, or living here, the regular account is the natural fit. If you are investing, buying property, receiving Brazilian income, visiting, or keeping ties from abroad, the non-resident CDE is usually the right tool.
Align the account with your intended tax status — this matters more than most people realize. A regular account is itself one of the factors Brazil’s Receita Federal weighs when deciding whether you are a tax resident; the bank neither asks nor cares about your tax intentions. So if you hold a residency permit that does not by itself make you a tax resident (for example, a digital-nomad-type residency) and you are deliberately keeping your time in the country under the day-count threshold to avoid tax residency, opening a regular account works against you — it moves you one step closer to being treated as a tax resident even if you are not triggering the other factors. In that situation the non-resident (CDE) account is the aligned choice.
How Oliveira Lawyers can help
If you would rather not navigate this yourself, our team opens non-resident accounts for foreign clients remotely — selecting the right bank, obtaining your CPF, preparing the documents, and dealing with the bank on your behalf. Learn more about our done-for-you Brazilian bank account service.
The regular (resident) account, step by step
Who qualifies: foreigners who hold a Brazilian residency card (CRNM, formerly RNE) and a Brazilian tax address. Documents typically requested are a valid passport, the CRNM, a CPF, proof of a Brazilian address (a utility bill or rental contract), and proof of income.
Traditional banks — Banco do Brasil, Santander, Itaú, and Bradesco — all open accounts for residents, though requirements and fees vary. Digital banks such as Inter, Nubank, and C6 are faster to open, but they still require a CRNM, a CPF, and a Brazilian address, so they are a resident option, not a shortcut for non-residents. Most banks require you to appear in person at least once; some let you start online and finish at a branch.
The non-resident (CDE) account, step by step
What it is. The Conta de Domiciliado no Exterior is a Central Bank–regulated account for people who do not have tax residency in Brazil. It exists precisely because most banks will not open a regular account without residency. It suits foreigners who invest, buy property, or receive money in Brazil from abroad, and Brazilians who have formally left the country (Saída Definitiva).
Documents typically requested from a foreigner: a valid passport, a CPF, a tax ID from your country of residence (for example an SSN in the U.S. or an NIF in much of Europe), proof of address abroad, and proof of income (a foreign tax return or recent pay slips). No Brazilian address or CRNM is required.
Which banks offer it — and the catch. Only a few banks offer the CDE, because the Central Bank’s requirements are strict and each bank chooses whether to bother. The digital and non-brick-and-mortar providers, such as Rendimento, are usually the most favorable, and several allow a fully online opening. When the big brick-and-mortar banks (Banco do Brasil, Bradesco, Itaú) do offer it, the terms are often demanding — an outsized monthly fee, or a requirement to keep an unreasonably large investment balance parked with them. This mix shifts over time, so it is worth comparing before you commit.
Opening remotely. This is the practical advantage of the CDE. A non-resident can usually open one without travelling — either directly online at the handful of banks that support it, or through a Brazilian lawyer holding a power of attorney, which is how the banks that will not self-serve foreigners are reached. A CPF can be obtained from abroad as part of the same process.
What it can and cannot do. PIX and boleto payments, TED transfers, a debit or prepaid card, and CDB investing are typically available; you can generate an IBAN to receive funds from abroad and send money out. These accounts are individual only (no joint accounts), operate in Brazilian reais only, and apply documentation requirements on large transfers. A key strategic benefit: using a non-resident account helps you avoid inadvertently acquiring Brazilian tax residency.
A practical note about the branch. Most branch-level staff have never handled a non-resident account and may not know it exists — you may be the first foreigner that clerk has served, so it is unreasonable to expect every rep to know the rules. Ask for the branch manager, who has far better odds of giving a real answer than a front-line rep, and bring a Portuguese-speaking friend. A rep who is embarrassed about their English may improvise an answer just to end the conversation, so do not treat a casual “no” as the final word.
Credit, credit cards, and mortgages
This mostly applies to resident-account holders. Banks differ a lot in how freely they extend credit and how aggressively they promote mortgages, and this shifts over time. Among the regular brick-and-mortar banks, Santander and Itaú tend to be more willing to extend credit and mortgages than Bradesco and other traditional banks. Banco do Brasil and Caixa are known for lower-rate mortgages but usually demand more paperwork and stronger credit. Nubank may offer a deposit-secured credit card, which can help a newcomer start building a Brazilian credit history.
You will need a CPF (both account types)
Every Brazilian bank account requires a CPF, Brazil’s individual tax number. The good news for non-residents: you can obtain a CPF from abroad, and you do not need to have ever set foot in Brazil to get one. Because it underpins the whole process, it is usually the first step. See our guide on what a CPF is and how to get one.
Can you open an account from abroad or online?
A regular (resident) account almost always requires an in-person visit for identity verification, even when the application starts online. A non-resident CDE is more flexible: a few banks allow a fully online opening, and where a bank will not, a Brazilian attorney can open it for you under a power of attorney. In short, living in Brazil usually means a branch visit; living abroad usually means the CDE, opened remotely.
Costs and fees to expect
Fees depend on the bank and the plan, but the categories to ask about are the same: monthly maintenance (some non-resident plans waive it), TED transfer charges, the currency-exchange spread and IOF on money moving in or out, ATM charges, and card fees. There is no minimum bank balance required to visit Brazil — a common myth confuses proof-of-funds at the border with a bank-account minimum; the two are unrelated.
Sending money to and from Brazil (FX)
Because these accounts operate in reais only, every move in or out is a currency conversion. To receive funds from abroad you generate an IBAN; to send money home you use the bank’s exchange channel. The main cost drivers are the exchange spread and IOF, and large remittances trigger source-of-funds documentation — the “bank controls” worth planning for on big transfers. This is a summary; our dedicated money transfer to and from Brazil page covers it in full, and we also handle transferring inherited funds out of Brazil.
If you are a U.S. person: FBAR and FATCA
A quick note for U.S. citizens and green-card holders: holding a Brazilian bank account is perfectly legal, but you generally must report it. Foreign accounts above certain thresholds trigger an FBAR filing and may require FATCA reporting on your U.S. return. It is a reporting duty, not a prohibition — but skipping it carries penalties, so factor it in.
Common mistakes and red flags
The usual traps: assuming a tourist can open a regular account (you cannot, without residency); being surprised when a digital bank rejects a non-resident; relying on informal “facilitators” instead of a licensed professional; and forgetting the U.S. reporting duty above. Matching the account type to your residency and tax situation at the outset avoids nearly all of them.
How Oliveira Lawyers can help
If you would rather not navigate this yourself, our team opens non-resident accounts for foreign clients remotely — selecting the right bank, obtaining your CPF, preparing the documents, and dealing with the bank on your behalf. Learn more about our done-for-you Brazilian bank account service.
Frequently asked questions
1. Can a foreigner open a bank account in Brazil?
Yes, for most foreign citizens. If you hold Brazilian residency you can open a regular account; if you live abroad you can open a non-resident (CDE) account. Both require a CPF. Additional requirements such as proof of income and tax compliance typically apply.
2. What is the difference between a resident and a non-resident account?
A regular account is for foreigners who live in Brazil and hold a CRNM residency card. A non-resident (CDE) account is a Central Bank–regulated product for people who do not reside in Brazil and do not want Brazilian tax residency.
Remember that over the counter customer support at the bank may be unaware of the non-resident accounts. Speaking with a manager at the branch as well as communicating in Portuguese may increase your chances of getting correct information about availability.
3. Can I open a bank account in Brazil from the USA or from abroad?
A non-resident account, typically yes — often fully online, or through the support of a law firm (expect a substantial due diligence on your documents and your current taxation status). A regular resident account typically requires an in-person visit.
4. Which bank is best for foreigners in Brazil?
It depends on your situation. For non-residents, digital providers such as Rendimento and C6 are usually the most flexible; the big brick-and-mortar banks tend to impose higher fees or balance requirements. For residents, Santander and Itaú are generally more open to credit and mortgages.
5. Do I need a CPF to open an account?
Yes, always. A non-resident can obtain a CPF from abroad, and it is normally the first step.
6. Can I open a Brazilian bank account online?
Some non-resident accounts can be opened fully online at a small number of banks. Regular accounts usually cannot be completed entirely online.
7. How long does it take?
Once your documents and CPF are in order, a non-resident account is often opened within a couple of weeks; timelines vary by bank.
8. Is it legal for a U.S. citizen to hold a Brazilian bank account?
Yes. It is legal, but U.S. persons generally must report foreign accounts (FBAR and, where applicable, FATCA). It is a reporting obligation, not a prohibition, that you should verify with your CPA or tax accountant in the US.
9. Do you need money in a Brazilian account to enter Brazil?
No. The idea that you must hold a set amount in a Brazilian account is a myth; proof-of-funds at the border is a separate matter from a bank-account minimum.
10. Can I hold U.S. dollars in the account?
Typically not. These accounts typically operate in Brazilian reais only; funds arriving from abroad are converted through the bank’s exchange channel.
11. Can I open a joint account?
Non-resident accounts are generally individual only.
12. Does the account include PIX and boleto payments?
Yes. PIX instant transfers and boleto bill payments are standard, and are a major reason to have a local account. For the non-resident bank accounts PIX will not always be available as a feature. You should check with the bank whether or not PIX will be available.
General information only, not legal or tax advice, and not a substitute for advice about your specific circumstances. Banking and tax rules in Brazil and abroad change; confirm current requirements before you act.
Reviewed by Luciano Oliveira, Esq., LL.M. — admitted in Brazil, Texas, and California. Last reviewed July 2026.