As a foreign investor, can I open a bank account in Brazil once I have bought my property?
Opening a bank account in Brazil is an option only if you have a permanent visa and buying a property doesn't automatically entitle you to have a permanent visa, although this of course does not stop you from buying your property in Brazil as funds are sent direct from your bank account overseas to the sellers bank account in Brazil using the usual route for international bank-to-bank transfers (SWIFT or CHAPS are examples of organisations that will be involved here).

If you have a permanent visa then you have the opportunity to open a current account (conta corrente) or deposit/savings account (conta de poupança). Current accounts give all the usual benefits including cheque books and cash withdrawal cards which you use at ATM's or for point of sale transactions in Brazil. Deposit or savings accounts in Brazil offer extremely favourable interest rates for your investment when comparing to other countries around the world.

Both 'conta corrente' and 'conta de poupança' are available to individuals (pessoas fisicas) with permanent visas or for directors of a registered company in Brazil (pessoas juridicas).

If a Brazilian bank offers you the facility to open a bank account without a permanent visa, then please be warned, as this does not conform to current Brazilian banking laws.
 
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