Quote:
Originally Posted by RalphJ
Banks are now requiring RNE (registro numero estrangeiro-foreigner registration number) numbers for foreigners opening bank accounts, although Banco Central states that foreigners can open accounts only with a CPF number, passport number, and proof of residency, it simply isn't the case in practice. Banks that open accounts for foreigners without a RNE number are required to do much more bureaucratic work every month in maintaining the account since banco central adapted stricter accounting requirements due to money laundering, hence, most ALL banks in Brazil today do not accept account holders without a RNE number. RNE numbers are only acquired through obtaining some type of permanent visa (investors, retirement, etc).
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I see, I knew foreigners couldn't open one unless as stated on a previous thread it was to go through some sort of fast track method of investing $50,000 into the country through a company.
I am just trying to figure out the reasoning behind it all, so basically it is all because Banco Central have made stricter requirements for the banks?
So is there currently nothing in discussion or some kind of movement on changing this considering the amount of foreigners investing into the country?
Thanks