Quote:
Originally Posted by nickohorny
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
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Not that I've heard of. But you/they will be able to open an account after obtaining your investors visa...but that will take some time to obtain. I had dinner last night at a nice restaurant here in my city recently opened by a young, Portuguese, foreign investor. We have became friends over the last year and last night he told me he was getting upset because it's now been 20 months since he applied for his permanent visa and has yet to receive it. And he hired a lawyer to whom he paid 3,500 reais to handle the situation for him. He's called everyone he can and all the departments involved but it's just the
slow, bureaucratic, process that exists here in Brazil unfortunately. The main thing he's upset over is exactly this....he can't open up a personal bank account.
It took me a year and a half to get mine and I married a brazilian who works for the federal gov't. And I feel that I would have never gotten it when I did if she didn't go to Brasilia personally after 15 months and talk to the people in the department responsible.