Are you a foreigner with a CPF (Brazilian taxpayer number) and a passport, but unable to open a bank account in Brazil because the app requires a Carteira de Registro Nacional Migratório (CRNM – National Migration Registry Card)?
This is a common difficulty. Although there is no general Central Bank requirement to present a CRNM to open an account, many Brazilian banks require national identification documents in their internal procedures.
But did you know that you do not necessarily need to live in Brazil, hold a residence authorization or open a company to have a Brazilian bank account?
There are specific accounts for non-residents, although they are not always as accessible or affordable as conventional accounts.
Can foreigners open a bank account in Brazil?
Yes. Resident and non-resident foreigners can open accounts in Brazil, provided they meet the financial institution’s requirements.
In practice, many digital banks require Brazilian documents, such as the CRNM, RG (Brazilian ID card) or CNH (Brazilian driver’s license), during registration. This may prevent foreigners who only have a passport and a CPF from completing the process.
Having a CPF, therefore, does not guarantee that the account will be opened.
The first step is to understand which type of account fits your situation.
What is a Non-Resident Account (CNR or CDE)?
The Non-Resident Account (Conta de Não Residente – CNR), also known as the Account for Persons Domiciled Abroad (Conta de Domiciliado no Exterior – CDE), is a type of bank account intended for people who do not reside in Brazil, but need to move funds in the country.
It exists because having financial ties to Brazil does not necessarily mean living here.
Imagine, for example, a French citizen who lives in Paris but owns an apartment in São Paulo.
He needs to receive the rent, pay the condominium fees and the IPTU (municipal property tax), and occasionally cover maintenance expenses for the property.
This foreigner does not need to obtain Brazilian residence authorization just to manage his assets. A Non-Resident Account may be a suitable solution for his needs.
Another example would be a person who lives in the United States, visits Brazil regularly and wishes to keep funds in reais to make payments during their stays.
Depending on the services available and the institution’s conditions, a CNR may also serve this purpose.
Is the Non-Resident Account more expensive?
At many banks, yes. And this is one of the main disadvantages of this type of account.
While many conventional accounts offer free maintenance, non-resident accounts may carry significantly higher fees.
Depending on the institution and the package chosen, there may be charges for opening the account, monthly maintenance, international transfers and additional services.
Some CNR options can cost hundreds of reais per month. On the other hand, there are also institutions that offer free or reduced-fee options.
The Central Bank does not set a single fee for these accounts, leaving it to the institutions to define the amounts charged, subject to the applicable regulations.
For this reason, it is important to assess whether the cost of the account is proportionate to how much you will use it.
In the example of the French citizen who receives rent from a property in Brazil, an account with high monthly maintenance fees may consume a significant share of the income, especially if the amounts received are modest.
Before signing up, compare the fees and the services actually available.
How to find a bank that offers a Non-Resident Account?
When contacting a financial institution, explicitly use the terms:
- Conta de Não Residente (CNR – Non-Resident Account);
- Conta de Domiciliado no Exterior (CDE – Account for Persons Domiciled Abroad);
- Conta em reais para não residentes (account in reais for non-residents).
These terms help direct the service to the right product.
Some Brazilian financial institutions advertise products or services aimed at non-residents, but the conditions vary widely. Some offers may be intended only for customers who already hold an account in Brazil and have since moved abroad.
Before signing up, confirm whether the bank accepts foreigners who have never lived in the country, which documents it requires and whether it offers the services you need, such as Pix, cards and transfers.
It is also worth asking whether there are fees for opening the account, monthly maintenance, a mandatory minimum balance or fees for international transactions.
Do I need to obtain residence in Brazil or open a CNPJ to have an account?
Not necessarily.
A foreigner may need a bank account in Brazil without any intention of living in the country or setting up a company there.
Opening a CNPJ (Brazilian company registration) is not a general requirement for holding a personal bank account.
Likewise, Brazilian residence authorization should not be seen as a necessary procedure merely to solve a banking difficulty.
However, if you really intend to live in Brazil, obtaining your residence authorization and completing your migration registration can make your life much easier.
In addition to enabling the issuance of the CRNM, migration regularization can reduce registration obstacles and facilitate access to various services.
It is important to remember that migration residence, tax residence and banking classification are not necessarily identical concepts. The appropriate type of account should be assessed according to the specific situation of the person concerned.
I already have residence authorization, but I have not received my CRNM yet. Can I open an account?
If you have already obtained residence authorization in Brazil but do not yet have your CRNM, it is important to check which stage of the migration procedure you are at.
After the residence authorization is granted in Brazil, the foreigner must apply for registration with the Federal Police within the legal deadline. As a rule, this deadline is 30 days after the publication of the approval.
For those who enter the country with a temporary visa, the registration deadline is, as a rule, 90 days after entering Brazil.
It is during the registration procedure that the foreigner receives their National Migration Registry number (RNM) and applies for the issuance of the CRNM.
If you have already completed the registration and are only waiting for the physical card, you can ask the bank whether it accepts the Federal Police protocol (proof of application), together with your passport and CPF.
Some institutions may accept this documentation, while others require the definitive card.
If you already have residence authorization but have not yet completed the mandatory registration, your priority should be to complete this step with the Federal Police.
What can I do if the bank does not accept my passport?
If you have a CPF and a passport, but the bank requires a CRNM or another Brazilian document, there are some alternatives.
1. Seek in-person service. Some institutions may offer a specific document review for foreigners, even when the app does not allow you to complete the registration.
2. Check whether a Non-Resident Account is suitable. If you live abroad, look for institutions that offer a CNR/CDE and compare the terms.
3. If you have already completed your migration registration, ask whether the Federal Police protocol is accepted. Issuing the physical card may take time, but some institutions may accept provisional documents.
4. Compare different banks. Identification policies vary, and a refusal by one institution does not mean that all of them will follow the same procedure.
It is important to remember that a bank’s refusal is not automatically illegal. Banks have discretion to assess account opening requests, provided they comply with the applicable legislation.
How can BFA Direito Migratório help?
The need to open a bank account in Brazil may be related to very different situations.
Do you only intend to receive money, manage a property or make payments in the country? Or are you actually planning to live, work, invest or start a business in Brazil?
These goals do not necessarily require the same legal procedures.
At BFA Direito Migratório, we help foreigners understand their options for staying in Brazil, identify when a residence authorization is necessary and organize the appropriate migration documentation.
We also provide assistance with residence authorization procedures, registration with the Federal Police and document regularization, as well as legal guidance on difficulties related to foreigners’ documentation.
Our goal is to help you avoid unnecessary procedures and make legally sound decisions about your plans in Brazil.
Want to understand the best path for your situation? Contact BFA Direito Migratório and schedule a consultation.
This article is for informational purposes only. The availability of account types, document requirements and fees vary according to the financial institution, the customer’s profile and the regulations in force.
