Brazil corporate bank account
Demand for Brazil corporate bank accounts has risen with the expansion of the Brazilian economy in recent years. Although business bank account is not yet a globally-renowned option for international businesses, it is an ideal way to support business activities in Latin America’s largest country.
The following information will help you determine whether a business bank account is the optimum solution for your business.
Brazil corporate banking services overview
- It is relatively simple to open a company bank account in Brazil. Healy Consultants will prepare a business plan for the bank to optimize the probability of business bank accounts approval;
- Leading international banks now offer corporate bank accounts;
- A business bank account is available in multiple currencies;
- It is not necessary for our Client to visit Brazil to open the business bank account. Our local staff in Brazil will complete account opening formalities on your behalf;
- A company bank account is supported by a range of conventional banking services, including business loans, cash management services, lines of credit, leasing, internet banking, insurance services, merchant services, and miscellaneous trade services;
- In order to open a company bank account, a range of due diligence information is required by both the bank and Healy Consultants. Information required includes copies of passport and driving licence of all directors, certificate of incorporation, copy of the company’s memorandum and articles and directors/trustees resolutions. This documentation must be certified by the local branch of the Brazilian bank in the Client’s home country, or by a notary public. Details and evidence (such as contracts and invoices) of the company’s activities is also required to open a company bank account;
- Healy Consultants will be pleased to open an Brazil corporate bank account. Our Client will have to travel for this engagement. It is a time consuming task, Healy Consultants will shelter our Client from the administrative challenges. As you can appreciate, it is a difficult task to obtain bank account approval through a newly formed company, when shareholders and directors and bank signatories reside overseas. Healy Consultants will prepare a business plan for the bank to optimize the probability of corporate bank account approval.
Healy Consultants fees to help open a Brazil corporate bank account
Our fee to assist you to open a bank account amounts to US$2,950. This fee includes:
- Healy Consultants’ International Banking Team completing the corporate bank accounts application form on behalf of our Client, and obtaining our Client’s signature;
- Organising a detailed business plan relating to our Client’s company, by Healy Consultants’ International Banking Team, to support the corporate bank accounts application;
- Healy Consultants’ International Banking Team submitting the corporate bank accounts application form and business plan to the bank, together with the corporate and personal due diligence information outlined above;
- Healy Consultants’ local officer attending a bank interview in Brazil on your behalf, describing your global business activities and explaining why you require a business bank account;
- Healy Consultants can open a bank account without the bank signatory and beneficial owners’ presence;
- Paying the initial bank deposit to the Brazilian branch of the international bank on our Client’s behalf and emailing a scanned copy of the bank deposit slip as verification;
- On behalf of our cient, Healy Consultants applies for corporate internet banking facilities;
- Healy Consultants applies for a corporate credit card, corporate ATM card, and corporate cheque book on our Client’s behalf;
- Healy Consultants international banking team receiving approval from Brazil for the opening of the bank account;
- Receiving the bank account internet login and password information in a sealed letter that Healy Consultants passes directly to our Client;
- Healy Consultants receiving a corporate cheque book in a sealed letter that is passed directly to our Client;
- Healy Consultants receiving credit and ATM cards in a sealed letter that is passed directly to our Client;
- If our Client is not comfortable with a Brazil bank account, Healy Consultants can open an international bank account outside of Brazil. Examples include London, New York, Germany, Bulgaria, South Africa, Australia or Dubai. Our fee for this service is US$2,950 without travel or US$2,550 with travel. All banks will be top tier banks in these countries with excellent internet banking services.
Please note that this fee does not include the initial deposit required by the bank.
Frequently asked questions
I am interested in Brazil business banking solutions. Which banks would you recommend?Although several local Brazil corporate bank account options will be available, Healy Consultants still suggest to all our Clients to opt for banks with which they already have a preexisting relationship, for instance an account already opened somewhere else in the world. Aside from this point, international banks including HSBC, Standard Chartered, Citibank and Barclays, are renowned for providing excellent services to corporate customers, which will be essential when starting a new business in Brazil.
Is Brazil online corporate banking safe?Yes, provided our Clients work with banks suggested by Healy Consultants. Our Firm cannot guarantee the quality of services and safety for other banks in Brazil with which we have little or no experience.
Will my Brazil corporate bank account offer internet banking services?Yes. Immediately after opening our Client’s corporate bank account in Brazil, Healy Consultants will also activate the internet banking services. As a result, our Client should be able to easily access their account(s) online, within one to two weeks.
What banking services will be offered to my firm in Brazil?Corporate banking in Brazil offers our Clients the following services – internet banking and telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits and wealth management.