Opening of Accounts
Resident Companies (Local Currency)
Minimum documentation required (of the company)
- CNPJ (local tax number of the company)
- Memorandum of Association of the local company
- Memorandum of Association of the parent company, translated and notarised (this document was necessary to obtain the CNPJ, only one copy is required)
- Address in Brazil
NB. It is necessary to identify the beneficial owner of the company. If in the registration agreement the beneficiary is not identified (because belonging to another company), we will need the entire chain of Memoranda of Association up to the identification of the ultimate beneficiary.
NB2: The required forms may change over time, the most recent being attached.
Minimum documentation required (of the proxies and signatories)
- Local administrator:
- RG or RNE (DNI)
- CPF (individual local tax number)
- Document confirming address (water, electricity or telephone bill)
- Marriage certificates (if you are married with community of goods, the documents for the wife are also required)
- The local director must complete and sign the form
- Foreign shareholders must complete the form, but without the need for signature
Currency
BRL
Person responsible for the receipt of documents and supplementation of the file
Time (days) in which the account is operational*
Is a local proxy required?
Does the signature of the opening contract require physical presence? If the answer is NO, what are the alternatives?
- No, but the signatory must be the proxy/local director
- Dispatch of the contract by courier or equivalent
Other requirements/restrictions
- Non resident foreign shareholders have no powers and no signature rights
Resident Companies (Foreign Currency)
Minimum documentation required (of the company)
There are no foreign currency accounts
Minimum documentation required (of the proxies and signatories)
Not Applicable
Currency
Not Applicable
Person responsible for the receipt of documents and supplementation of the file
Not Applicable
Time (days) in which the account is operational*
Not Applicable
Is a local proxy required
Not Applicable
Does the signature of the opening contract require physical presence? If the answer is NO, what are the alternatives?
Not Applicable
Other requirements/restrictions
Not Applicable
NON-Resident Companies
Minimum documentation required (of the company)
There are no non-resident accounts
Minimum documentation required (of the proxies and signatories)
Not Applicable
Currency
Not Applicable
Person responsible for the receipt of documents and supplementation of the file
Not Applicable
Time (days) in which the account is operational*
Not Applicable
Does the signature of the opening contract require physical presence? If the answer is NO, what are the alternatives?
Not Applicable
Other requirements/restrictions
Not Applicable