Trust & Service Confidence

Saturday, August 18, 2018

Counselling Aimed at Opening Bank Current Accounts

From the outset it is important to note that in Brazil is not permitted by Law the opening of current accounts to those who are not resident in the Country. It is a different case in the case when a Brazilian company is established.

Bright Business Consulting LLP with appropriate “Warranty & Assistance” provides information, directions to the physical and legal entities interested in opening a "Bank Account" in Brazil, it is for business purposes and for private purposes.

The prerequisites as well as the conditions for the opening of a bank account in Brazil are very specific. The same opening is subject to a complex technical / bureaucratic procedure when it becomes necessary the presentation of several application forms, as well as the domicile and in  some cases you are expected to prove your income. In this regard, it is explicitly suggested to have recourse to professionals who can warrant and assist in the process of accompaniment.

Bright Business Consulting LLP after the analysis of the case will be able to understand which  among the different types of checking accounts available in the background of banking services in Brazil is the best solution for the specific needs.

There are "Bank Current Accounts" used for commuting, which give the right to apply for a credit card (in some areas of Europe is recognized as ATMs), as well as a debit card (in some areas of Europe is recognized as a credit card) . It is to be noted that the money transfer from one end of the world may take a long time.

Commonly savers have the need to hoard cash. Precisely for this specific need there is an interesting type of bank account that allows the Brazilian investor, but also the foreigner, either as a tourist or as an investor to have their resources freely and comfortably in Brazilian territory, so saving on the money exchange. For these specific requirements, but not less for the other ones, the process of "Due Diligence" to be carried out is to be considered a professional activity that must be carried out carefully in order to warrant and assist the individual or entity during the necessary procedure for accompaniment to achieve the operation of the account.

The rules of the exchange market and capital provides that the person or legal entity resident or domiciled with foreign establishments may be holders of deposit accounts in national currency in Brazil exclusively at bank branches that are able to make foreign exchange transactions in compliance with what required by law. Bright Business Consulting LLP is the appropriate partner to determine through a careful analysis which mode to implement and what kind of "Bank Account" can apply. In conclusion remains crucial to point out that the choice of the bank is crucial given that not all banks offer the same products.



Bright Business Consulting LLP
58/60 - Kensington Church Street


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