Non-Resident Bank Account Setup in Brazil

Easily Open Your Non-Resident Bank Account in Brazil. Zero Monthly Fees. Great Exchange Rates.

At Oliveira Lawyers, we specialize in assisting foreign citizens secure banking solutions in Brazil. Our experts simplify the process of opening a non-resident bank account (also known as “CDE”), handling every step —from initial consultation and document preparation to account activation. By partnering with Brazil’s leading banks, we ensure you gain access to accounts potentially free from monthly fees and benefit from competitive exchange rates for money transfers. Trust us to secure the best banking solution tailored to your financial needs and lifestyle.

Why Open a Non-Resident Bank Account in Brazil?

Simplified Financial Management: Easily handle local payments, expenses, and transactions without unnecessary complications or delays.

Convenience When Visiting Brazil: Access funds effortlessly, reducing the need for international transactions or cash withdrawals.

Enhanced Credibility: Establish a financial presence in Brazil, facilitating smoother transactions and increased trust with local businesses and institutions.

Better Exchange Rates: Receive funds in Brazil from abroad at competitive exchange rates, minimizing currency conversion costs.

Reduce Tax Residency Factors: By using a bank account designed for non-residents, you reduce the risk of inadvertently becoming classified as a Brazilian tax resident.

Features of Our Service

Full Remote Assistance: Open your Brazilian bank account without leaving your home country—we handle everything remotely.

Personalized Consultation: We carefully assess your banking needs to match you with the ideal bank, tailored to your financial goals.

Documentation Support: Expert guidance through document preparation, assisting with compliance with Brazilian banking requirements.

Extensive Bank Network: Access to multiple top Brazilian banks allows us to provide the best options, potentially without monthly fees and featuring highly favorable exchange rates.

Direct Bank Communication: Our team liaises directly with banks on your behalf, ensuring smooth, hassle-free account opening and operation.

Local Expertise: Experienced professionals fluent in English, ensuring clear communication and accuracy throughout the setup process.

Advantages of Working with Us

Competitive Banking Terms: We negotiate directly with multiple Brazilian banks, potentially with zero monthly fees and the most competitive exchange rates.

Access to Pix Payments and Boleto Payments: Benefit from Brazil’s popular Pix payment system for instant transfers, as well as the ability to conveniently pay local invoices (boletos).

CPF Tax ID Assistance:
If you don’t yet have a Brazilian CPF Tax ID, we’ll handle the application process for you, facilitating smooth banking and financial transactions.

Local Expertise:
Leverage our team’s deep understanding of Brazilian banking systems, regulations, and compliance requirements to avoid bureaucratic delays and obstacles.

Dedicated Customer Support:
Receive personalized assistance from start to finish, including tailored advice and clear communication throughout your banking journey in Brazil.

Cost Efficiency and Transparency:
Enjoy bank accounts potentially without monthly fees and benefit from highly favorable currency exchange rates when transferring funds from abroad.

How Our Process Works

Initial Consultation
We begin by understanding your specific banking needs and financial objectives to offer personalized recommendations.

Bank Selection
Leveraging our extensive network, we select the Brazilian bank offering optimal conditions, potentially without monthly fees, and providing the most favorable currency exchange rates.

Document Collection and Preparation
We guide you step-by-step, clearly outlining and preparing all required documentation for your account opening.

Account Setup
Our team coordinates directly with the chosen bank, handling all aspects of account opening, including form submissions and approvals.

CPF Tax ID (if required)
Should you need a CPF Tax ID, we facilitate the entire application process seamlessly alongside your account setup.

Funds Transfer Guidance
We provide clear instructions and assistance for your first international transfer, ensuring you benefit from the best available exchange rates.

Account Activation
Once your account is active, you’ll have immediate access to local banking features, including Pix payments and boleto payments, to simplify financial transactions in Brazil.

Frequently Asked Questions (FAQs)

What is a non-resident bank account in Brazil?

A non-resident bank account allows foreign citizens to conduct banking operations in Brazil using a bank account designed by foreign citizens who are not legal residents in Brazil. This account does not require proof of residency and it also reduces the chances of one being considered a tax resident in Brazil. A non-resident bank account is commonly known in Portuguese as CDE or “Conta de Domiciliado no Exterior” meaning “Account for Residents Abroad”.

How does a non-resident account differ from a resident account?

Regular bank accounts (“resident bank accounts”) are for individuals living in Brazil with tax obligations in the country, while non-resident accounts cater to foreign citizens who don’t reside permanently in Brazil and do not wish to pursue tax residency in Brazil.

Do I need to visit Brazil to open an account?

No, we facilitate remote account openings without the need for you to visit Brazil.

Can I open an account with a foreign passport?

Yes, a valid foreign passport is a valid identification for opening a non-resident bank account.

Is a CPF tax ID necessary?

Yes, a CPF tax ID is always required, and we can assist you in obtaining one as a separate service.

Are non-resident accounts eligible for online banking?

Yes, non-resident accounts typically include full online banking capabilities.

What currencies can I deposit?

Accounts primarily operate in Brazilian reais (BRL), but we assist with foreign currency exchanges at competitive rates.

Are there monthly fees associated with non-resident accounts?

Many accounts we facilitate do not have monthly fees, though this depends on the selected bank.

What is the Pix Payment system?

Pix is Brazil’s instant payment system, enabling immediate and secure digital transactions.

Can I pay Brazilian invoices (boletos) through my account?

Yes, your account supports local boleto payments, simplifying your financial transactions in Brazil.

What is the difference between resident and non-resident accounts?

Resident accounts are for individuals living permanently in Brazil, whereas non-resident accounts are specifically designed for foreign nationals who do not reside in Brazil.

How secure are Brazilian banks?

Brazilian banks are highly regulated and adhere to strict national and international security standards, ensuring safety and reliability.

Can I withdraw money internationally from my Brazilian account?

Yes, you can transfer money internationally from your Brazilian account, and we assist you with favorable exchange rates.

Why do you work with specialized Brazilian banks?

Specialized banks provide better terms, fewer fees, and optimal exchange rates specifically tailored for non-resident account holders.

Is my money protected in Brazilian banks?

Yes, Brazilian banks are regulated by the Central Bank of Brazil and offer deposit protection schemes similar to FDIC insurance.

Are online banking and mobile apps available?

Yes, our banking partners offer robust digital platforms, including internet banking and mobile applications.

Can I access PIX payments?

Yes, our accounts provide access to the popular PIX instant payment system widely used in Brazil.

How long does it typically take to open an account?

The process usually takes 1-2 weeks after submission of all required documentation.

Do banks require proof of income for opening accounts?

Some banks may request proof of income; however, requirements vary, and we assist in simplifying document requirements.

Can I have a debit card linked to my account?

Yes, most non-resident accounts include debit cards for convenient local and international use.

Do I need to visit Brazil to sign documents?

No, documents can be signed remotely, and we handle the coordination to ensure a smooth process.

Can I send money back to my home country easily?

Yes, we provide guidance to ensure you benefit from excellent rates when transferring money internationally.

Are there limits on how much I can transfer into the account?

No specific limits exist, but large transfers may require additional documentation, which we assist with efficiently.

Are your services available to citizens from all countries?

Our services primarily cater to citizens from the US, UK, Australia, Canada, and other countries with straightforward banking and regulatory frameworks.

How long does it take to have my bank account open?

If you already have the required documents including the CPF tax ID, the average time to open a Non-Resident CDE Bank Account is seven business days.

Can I invest and get returns through my account?

Potentially yes. Some of our banking partners offer non-resident accounts linked to a CDB account (somewhat similar to CD investment accounts in the US) with quite interesting return rates.

What documents are usually required to open a Non-Resident Bank Account in Brazil (also known as CDE)?

The documents commonly required to open a bank account in Brazil as a non-resident foreign citizen are:

• Valid passport
• CPF Tax ID number
• Tax ID in your country of residency (e.g.,: Social Security in the US and NIF in some European countries)
• Proof of residency in your country of residence
• Most recent Tax return
• Last 3 pay slips or other proof of income

What documents are accepted as a proof of residence when applying for a non-resident bank account in Brazil?

Commonly accepted documents are:

• Water bill
• Electricity bill
• Gas bill
• Internet bill
• Other utility bills

What documents are accepted as a proof of income when opening a bank account in Brazil?

• Income tax declaration from abroad
• Last three pay slips
• Documents related to companies in which the client is a partner in Brazil, such as articles of incorporation, balance sheet, minutes of profit distribution.

Can I have money received in my Brazilian bank account forwarded to my bank account in the US? Or another country?

Yes, you can send money from abroad to Brazil and from Brazil to abroad as well.

Is there a limit to the amounts handled in my Brazilian bank account?

While some banks may set up limits based on client profiles there are no fixed limits across the banks. Most banks may also require additional paperwork for transactions of substantially high amounts.

Can I open a joint bank account of the non-resident type in Brazil?

Most banks will operate only individual non-resident bank accounts in Brazil.

Is it possible to invest in Brazil while living abroad?

Yes, some of our partner banks offer the possibility of investing in CDB applications directly from your non-resident bank account.

Can I have financial investments other than CDB as a non-resident?

No, as the holder of a non-resident bank account you are usually limited to invest in CDB investment accounts.

Can I use the non-resident bank account to pay bills such as water, electricity, and home owners’ association fees in Brazil?

Yes, you can pay virtually any type of bill in Brazil such as water, electricity, internet, cable, gas, housekeeper, realtors, repair providers, and many others.

Can my non-resident bank account contain multiple currencies in it?

No, the only currency operated in the account will be the Brazilian real. Of course you will also be able to fund the account using the currency existing in your country of residency.