Property in Brazil - General buying and selling tips for Brazil

[robh]

Originally Posted by shawnpuett

It is easier to get the money out if your account in Brazil is in your name and the account abroad is also in your name. (MATCHING ACCOUNTS) When you are in Brazil you should go to your Local branch and set up online banking and do a test transfer before you leave the country to know exactly what you will need. Inside the banks online transfer frames you can find the proper forms to fill out and even pre-authorize certain accounts to receive money. However The HSBC can only be deposited into other HSBC inside Brazil without the forms, when the money leaves the country it does not matter that it is another HSBC. By the way you chose a good bank and yes people you can open a Bank account without a permenent visa you dont even need an ID card with a cpf and Passport it can be done, Will the bank tell you these other ways? Haha most likely the personel working there will be unfamiliar with the processes ... you can contract proffesionals to help you with that at CPFSERVICESBRAZIL(DOT)COM

Maybe you should finish the website off before advertising it. The pricing section is not finished at all??

[JMBroad]

Originally Posted by robh

Maybe you should finish the website off before advertising it. The pricing section is not finished at all??

Either not finished or targetting Latin speaking countries like ... the ancient Roman Empire?

[shawnpuett]

I got a laugh out of that you guys are hilarious, I chatted with the web designer and hes on it.

[RalphJ]

Originally Posted by shawnpuett

Folks it is simply not true that you can only open a bank account with a residency visa. There are SEVERAL ways to get around that. If any one needs help with opening a bank account in Brazil and does not have a residency visa I suggest contacting cpfservicesbrazil(dot)com

Shawn;

I've been dealing with this situation, opening bank accounts for foreigners with and without RNE numbers for 10 years.

Approximately 2 years ago banco central changed the reporting requirements for banks for accounts for foreigners (C-5) that do not have an RNE number, or some type of permanent visa.

I can tell you from experience, there are VERY few banks today that will open a C-5 account, or an account for a foreigner with only passport, CPF, and proof of residency. Banco do Brasil absolutely refuses, as do the vast majority. Also, when/if you do find a bank, usually a smaller, private bank, that will open a C-5 account, if there is a lot of activity in this account, and especially international transfers, they are normally closed in short order. This is because of the detailed reporting requirements for every single transaction that the banks are mandated to do today to satisify the requirements now in place by banco central due to money laundering.

[debzor]

I have to concur with Ralph - in my experience I have had the same results...

[shawnpuett]

Well there are other ways of opening accounts for an individual without a permanent residency that no one has mentioned, that is totally legal and has no dire future consequences. However the individual would need to have someone be his administrator that does have a permanent visa. This does have certain criteria that needs to be well agreed and understood by the individual opening the account as well as the administrator asumes the individuals reponsible actions with the account.
Besides this avenue I am aware of atleast two other avenues that a foriegner can operate funds quickly without a permanent visa that is legal.
The individual can also open a business without an RNE and he can operate currency using his Brazilian buisiness, Again responsible actions must be taken afterward. Another misconception is that a foreingner cannot open a buisiness without an RNE #. Also that can be done.

[RalphJ]

Originally Posted by shawnpuett

Well there are other ways of opening accounts for an individual without a permanent residency that no one has mentioned, that is totally legal and has no dire future consequences. However the individual would need to have someone be his administrator that does have a permanent visa. This does have certain criteria that needs to be well agreed and understood by the individual opening the account as well as the administrator asumes the individuals reponsible actions with the account.
Besides this avenue I am aware of atleast two other avenues that a foriegner can operate funds quickly without a permanent visa that is legal.
The individual can also open a business without an RNE and he can operate currency using his Brazilian buisiness, Again responsible actions must be taken afterward. Another misconception is that a foreingner cannot open a buisiness without an RNE #. Also that can be done.

Shawn;

I think that most of us here are aware of being able to open up a brazilian business.....BUT, one MUST have a brazilian, or someone with a permanent visa, in that business and with some kind of percentage....even if it's just .1%.

The kicker with those types of options is that the "legal" person assumes all final rights and responsibilities in respect to the other person in the business or on the account.

In other words, the legal person has all final say from a legal as well as fiscal standpoint even though he may only own .1% of the business or is listed on the account only so it can be opened for the others party's use that person is listed as the "primary" on the account or "administrador" in the business. And to say that the person without the RNE has to 100%, completely trust the other party named (brazilian or legal person in brazil) on the account or in the business can't be overstated enough!

[PAUL-brasil]

Originally Posted by RalphJ

Shawn;

I think that most of us here are aware of being able to open up a brazilian business.....BUT, one MUST have a brazilian, or someone with a permanent visa, in that business and with some kind of percentage....even if it's just .1%.

The kicker with those types of options is that the "legal" person assumes all final rights and responsibilities in respect to the other person in the business or on the account.

In other words, the legal person has all final say from a legal as well as fiscal standpoint even though he may only own .1% of the business or is listed on the account only so it can be opened for the others party's use that person is listed as the "primary" on the account or "administrador" in the business. And to say that the person without the RNE has to 100%, completely trust the other party named (brazilian or legal person in brazil) on the account or in the business can't be overstated enough!

To open a Ltda company you DO need a business partner of any percentage but the partner does NOT need to be a Brazilian resident, can be anyone from anywhere. But a Ltda company needs a Administrator, a Adminstrator for a company in Brazil has to be a resident so UNTIL the business owner has the perminate visa or the RNE number in this case, the Ltda company needs to appoint a resident administrator atleast for temporary purposes. As Ralph correctly says the adminstrator can have full powers to the business account (although these powers can be limited if organised correctly by a contract).

But all this is aimed at the investment visa though. You can open a business account as a foreigner without a minimum $50K but of cause this also comes without a visa and RNE so the need for a Administrator perminately!!!!! and to move money to or from your personal account in the home country would be one hell of a hassel to say the least with a business account, with extra costs!!!

But to have a personal bank account as a non resident with an administator, well ive not heard of this done! Is it really advisable with the risks of having a resident with certain powers to your account? How can the administrator be limited to a individual bank account, i know how an administrator can be limited with a business acc but cant see it so easy for a personal acc?? tell us more???

How about opening a 'Poupanca' as a non resident instead and moving money that way from abroad with matching name accounts!

Regards
Paul

[timatthebeach]

have a friend who is a bank manager down south of Brazil and he reckons NO WAY for a foreigner to open a bank account they can use - without residencia.
You CAN open a business and business account, but as paul says you need a resident as administrator and ONLY the administrator has access to the bank account.

[PAUL-brasil]

Apprantly banks are more willing (if your lucky) to allow non residents to open 'savings accounts' other than a current account as they are less hassel for the banks due to limited bank transfers. I have no idea about this one personally I just heard it once. Anyone???