For a foreign-owned company, the corporate bank account in Brazil is where incorporation meets compliance: the bank must identify the company, its administrators and every individual who ultimately owns it before money can move. The account is also the gateway for the capital sent from abroad. This guide explains what banks ask for in 2026, who has to sign, how the capital comes in under the new foreign exchange framework and how to avoid the usual delays.
In brief
- Who opens it
- The Brazilian subsidiary, with its CNPJ
- Key check
- Beneficial owners and administrators
- FX framework
- Law 14,286/2021, in force
- Capital report
- SCE-IED within 30 days
- The account belongs to the Brazilian company; the foreign parent does not need its own account to invest.
- Banks must identify the beneficial owners, so prepare the full ownership chain up to the individuals.
- Capital arrives through a foreign exchange contract and, from US$ 100,000, must be reported to the Central Bank in SCE-IED.
- Digital banks are faster for simple structures; traditional banks handle complex foreign ownership and foreign exchange better.
Which bank account in Brazil you need
Most foreign investors need a single account: a corporate current account in the name of the Brazilian subsidiary. It receives the capital, pays suppliers, taxes and payroll, and collects revenue through bank slips (boletos) and Pix, Brazil’s instant payment system.
The foreign parent rarely needs an account in Brazil. It sends the capital from its own bank abroad, and it receives dividends there. However, a non-resident account in reais can make sense in specific cases, such as frequent payments in reais by a foreign group. We cover that option further below.
A branch of a foreign company opens its account in the same way as a subsidiary, using the branch’s CNPJ, after the federal authorization and registration. For an S.A. under incorporation, a bank first receives the initial cash deposit of at least 10% of the capital, before registration, under the Corporations Law.
What must be in place first
Banks open accounts for companies that already exist on paper. Therefore, the following should be complete before you apply:
- Registered company. Articles of association registered at the Board of Trade (Junta Comercial), and an active CNPJ.
- Beneficial owners reported. The beneficial owner information filed with the Federal Revenue, and the foreign parent’s own CNPJ active and up to date.
- Administrators with CPF. Every administrator who will operate the account holds a CPF in regular status.
- Digital certificate. The company’s e-CNPJ (ICP-Brasil certificate), often used to validate online banking and tax access.
- Address and activity. A registered address and activity codes consistent with what the company will do.
Our guide on opening a business in Brazil shows how these items fit in the incorporation sequence, and the guide on CNPJ for foreign companies covers the parent’s registration.
Documents banks ask for
Each bank sets its own list in its internal policy, which the Central Bank requires it to formalize. In practice, lists converge on the items below.
| Document | Purpose | Tip |
|---|---|---|
| Registered articles of association and amendments | Confirms the company, its capital and its administrators | Use the latest consolidated version |
| CNPJ registration card and simplified Board of Trade certificate | Confirms active status and current data | Issue them close to the application date |
| Group chart up to the individuals | Identifies beneficial owners | Show percentages at every level |
| Parent’s corporate documents, apostilled and translated | Identifies the foreign partner | Reuse the set prepared for incorporation |
| IDs, CPF and proof of address of administrators and representatives | Identifies who operates the account | Passports for foreigners, with CPF |
| Powers of attorney | Confirms who may act for the company or the partners | Powers should mention banks expressly |
| Proof of the company’s address | Confirms where it operates | Lease or coworking contract |
| Business description and expected flows | Risk profile and economic capacity | Mention expected inflows from abroad |
KYC and beneficial ownership
Under Resolution CMN 4,753/2019, banks must verify and validate the identity and qualification of each account holder and its representatives, cross-checking public and private databases. In addition, the anti-money laundering rules (Circular BCB 3,978/2020) require them to identify the individuals who ultimately own or control a corporate client. For a subsidiary owned through several layers abroad, that means documenting each layer.
Expect questions about the source of funds, the business model, the countries involved and the expected volume of transactions. Groups with entities in low-tax jurisdictions, trusts or nominee structures should expect a longer review and more documents. As a result, a clear group chart with supporting registry extracts often saves more time than any other document.
Who signs and who must appear
The account is opened and operated by the administrators named in the articles, within the powers the articles give them. For example, if the articles require two administrators to sign jointly, the bank will set up the account that way. Review the signing rules in the articles before incorporation, because changing them later requires an amendment.
Administrators may live abroad, provided they appoint a resident representative. However, banks often want to identify the person who will operate the account, either in person or by video, and some prefer at least one administrator resident in Brazil. In practice, many groups appoint a local administrator for banking and keep an executive abroad as a second administrator. See our guide on foreigners as directors of Brazilian companies.
Digital or traditional bank
| Point | Digital banks | Traditional banks |
|---|---|---|
| Onboarding | App-based, fast for simple structures | Relationship manager, longer review |
| Foreign ownership | Some limit or decline layered foreign structures | Used to multinational groups |
| Foreign exchange | Varies; not all close investment contracts | Full foreign exchange desks for capital and dividends |
| Services | Pix, slips, cards, basic payroll | Credit, guarantees, cash management, trade finance |
| Language | Mostly Portuguese | Some offer English-speaking corporate teams |
A common setup is a traditional bank for the capital and foreign exchange, plus a digital account for daily payments. Ask each bank before applying whether it accepts your specific ownership structure.
Receiving the capital from abroad
Subscribe the capital in the articles
The articles state the capital and when it will be paid in. The Board of Trade registration comes first.
Open the account and agree the foreign exchange terms
The Brazilian company opens its account and confirms with the bank how it will classify and close the foreign exchange contract.
Wire the funds
The parent sends the funds in foreign currency. The bank closes the foreign exchange contract with the company and credits the reais.
Report to the Central Bank
The company reports the foreign direct investment in SCE-IED under Resolution BCB 278/2022, within 30 days, when the amount is US$ 100,000 or more.
Record the payment in the books
The accountant records the paid-in capital, and the corporate records reflect it at the next amendment or accounts approval.
The SCE-IED record matters for the exit. It supports the remittance of dividends, which since January 2026 bear 10% withholding income tax under Law 15,270/2025, and the return of capital. Our guide on SCE-IED registration explains the periodic declarations.
Non-resident accounts and the new foreign exchange framework
Law 14,286/2021, Brazil’s foreign exchange and foreign capital law, took effect on 31 December 2022 and replaced dozens of older rules. The Central Bank implemented it mainly through Resolution BCB 277/2022 for the foreign exchange market and Resolution BCB 278/2022 for foreign capital.
Under the new framework, a non-resident can hold an account in reais in Brazil, which works as an ordinary account except where the Central Bank sets specific rules. The old acronyms, such as CC5, now matter mostly for history. Key points for foreign groups:
- Non-resident accounts are opened with banks authorized to operate in foreign exchange, under the same opening conditions as resident accounts.
- They must be individual, not joint, because using them to move third-party funds is prohibited.
- The non-resident still needs Brazilian identification, a CNPJ for a company or a CPF for an individual, and a representative in Brazil.
Foreign currency accounts since 1 October 2026
BCB Resolution 575, of 18 June 2026, amended Resolutions 277 and 278 and, since 1 October 2026, allows new holders of foreign currency accounts in Brazil. Among them are a Brazilian company with a direct non-resident shareholder and the foreign company that holds that stake directly. These accounts may only move foreign direct investment or external credit flows, and the bank will check that the SCE-IED or SCE-Crédito declarations are up to date. Cash and cheques are not allowed.
The rule permits the account but does not oblige any bank to offer it, so ask your bank whether it already opens accounts under the new items of article 70 of Resolution 277. For most groups, the subsidiary’s own account in reais plus a foreign exchange relationship remains simpler and enough; the foreign currency account helps when the group wants to keep investment or loan money in dollars or euros before converting it.
Timing and pitfalls when opening a bank account in Brazil
Account opening can take from a few days for a simple structure at a digital bank to several weeks for a layered foreign group at a traditional bank. The bank’s compliance review sets the pace, and it starts only when the file is complete. These are the issues that most often add time:
- Applying before the records are consistent. CNPJ, Board of Trade records, beneficial owners and IDs must match.
- Incomplete ownership chain. Missing intermediate holding companies or percentages lead to repeated questions.
- Powers that do not cover banks. A power of attorney drafted only for incorporation will not open an account.
- Administrators without CPF or unavailable for identification. Plan the in-person or video meeting in advance.
- Wiring capital before the classification is agreed. A misclassified inflow complicates the SCE-IED record and future remittances.
- Choosing a bank that does not serve the structure. Ask early whether it accepts your ownership and countries.
Questions investors ask
Can a foreign-owned company hold a dollar account in Brazil?
Since 1 October 2026, yes, under BCB Resolution 575/2026, if it has a direct non-resident shareholder. The account may only move foreign direct investment or external credit flows declared to the Central Bank, and each bank decides whether to offer it.
Can a foreign-owned company open a bank account in Brazil?
Yes. Once registered with the Board of Trade and holding an active CNPJ, a Brazilian company owned from abroad can open a corporate account like any local company. The bank will identify the administrators and the individuals who ultimately own the group.
Can a foreigner open a bank account in Brazil without living there?
A Brazilian company with administrators abroad can open an account, but banks often want to identify the person who operates it, in person or by video. Individuals and companies resident abroad can also hold non-resident accounts in reais, subject to the bank’s own policy.
What documents are needed to open a business bank account in Brazil?
Typically the registered articles, CNPJ card, Board of Trade certificate, group chart up to the individuals, the parent’s apostilled and translated documents, IDs and CPF of administrators, powers of attorney and proof of address. Each bank adds its own requirements.
How long does it take to open a corporate bank account in Brazil?
From a few days to several weeks, depending on the bank and the complexity of the ownership structure. A complete, consistent file is what shortens the review.
How does the capital get from the parent to the Brazilian company?
The parent wires the funds, the bank closes a foreign exchange contract with the Brazilian company, and the company reports the investment to the Central Bank in SCE-IED within 30 days when it reaches US$ 100,000. The record supports future dividends and repatriation.
Do I need a Brazilian partner to open the account?
No. A foreign parent can own 100% of the company. What banks need is identified administrators and a clear ownership chain, not a local shareholder.
