How many offshore banks currently exist in brazil and how reputable are they? Has anyone heard of cksa?
Banking in brazil
- Thread starter Alfrankenstein
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There are no offshore banks in Brazil.
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This is the probably the answer to your question.
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This is the probably the answer to your question.
There is no bank by that name in Brazil.
Be careful. Someone may be trying to scam you.
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This is the probably the answer to your question.
What do you mean by offshore here?
If you mean foreign banks with local branches then theres HSBC there but then you are banking with HSBC.
On their web site they claim:
What I find really strange is the fact that the account comes with a Brokerage account. To the best of my knowledge, this is illegal. A nonresident (even Brazilian) needs an authorized financial advisor for managing stock trading in Brazil, and this costs 50,000 BRL a year. This information I got in 2018 from my BR-Broker before leaving Brazil permanently. In any case, for the broker it is mandatory under CRS rules to report all transactions to your tax residency country. I have never seen any broker in BR accepting nonresidents. Even the crypto exchanges have in their general terms and conditions that they do not accept nonresidents (since they do not want to exchange the crypto transaction data according to CRS). Look at their websites. In any case, be careful.
CKSA's Brazilian Bank Account Opening Service*
”“ Price: US$ 4,000.00 ”“
*Your checking or savings account comes linked with a Bovespa Brokerage Account
Click to expand...
What I find really strange is the fact that the account comes with a Brokerage account. To the best of my knowledge, this is illegal. A nonresident (even Brazilian) needs an authorized financial advisor for managing stock trading in Brazil, and this costs 50,000 BRL a year. This information I got in 2018 from my BR-Broker before leaving Brazil permanently. In any case, for the broker it is mandatory under CRS rules to report all transactions to your tax residency country. I have never seen any broker in BR accepting nonresidents. Even the crypto exchanges have in their general terms and conditions that they do not accept nonresidents (since they do not want to exchange the crypto transaction data according to CRS). Look at their websites. In any case, be careful.
It would be best to know a business partner or personal friend who is already a client of this company. Also, I find the price absurdly high, 4,000 USD for opening a bank account. The minimum wage in Brazil is 1,302 BRL = 252 USD today. From this amount (4,000 USD), a poor family can live for 15 months. How much time do you think the company invests in opening the account for you? In Brazil, there are at least 3 banks that offer bank accounts for foreign residents: Itaú, Santander, Banco Rendimento. (I tried all of them without success). I recommend you to read the following article from the Blog of a Brazilian lawyer:
Conta CDE: Quem mora fora do Brasil pode ter conta corrente?
https://tersi.adv.br/conta-cde-o-que-e-quem-pode-ter/Last edited: Mar 29, 2023
And if i know a business partner, how does this change things? If i know a lawyer who works for this company...
It does not change, if a scam is a scam it doesn't matter!
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Were you unable to open an account with the 3 you mention? I just opened a non res account with Banco Rendimento and have online access from the US now. There was no minimum to open but the fee is abit pricey - 299 BRL = $60 usd a month but one has two options, I chose the pricier one so Im not nickled and dimed with fees
In Brazil only accept BRL money in the banks
And if you have a company and you have Brazilian resident you try to get the CNPJ (tin number in Brazil) but you have to translate the all documents.
https://www.gov.br/receitafederal/p...-para-pessoa-juridica-domiciliada-no-exterior
Banks in Brazil fintechs
Cora bank
Kamino
All accept online company account
And if you have a company and you have Brazilian resident you try to get the CNPJ (tin number in Brazil) but you have to translate the all documents.
https://www.gov.br/receitafederal/p...-para-pessoa-juridica-domiciliada-no-exterior
Banks in Brazil fintechs
Cora bank
Kamino
All accept online company account
Besides the issues other users have mentioned, there are a few other issues that you should probably talk to a different "contabilidade" before going this route. For one there`s different requirements in terms of investment, capital and accounting/management needed based on certain entity structures if a non resident shareholder is involved. For example if the company proposed is an LTDA this needs to have at least two shareholders with at least one of the shareholders and company representative being a permanent resident. If a foreign shareholder is present in this structure or SA then hiring an account is mandatory. That means its $4000+ the monthly accounting fee. If you want to act as a manager or director or the company actually has trading or commercial activity then there will also be a capital deposit minimum to meet. EIRELI is another type of company a foreign entity can own with this structure there is a minimum share capital investment of I believe its still 100 minimum wages which is going to equal about $30,000 USD.
Also $4000 to setup an LTDA or EIRELI is frankly criminal. Most accounting services who offer formation services will do this for a monthly fee which would be $30 to $100 per month including accounting services.
In terms of banking there are not a ton of options and fewer options if you need to deposit different currencies. You`ll be paying steep cambio fees on every deposit unless you are slow dripping via Wise or another service that can directly make exchanges and deposits based on holding domestic reserves and don`t actually need to move money across boarders.
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