http://www.cvm.gov.br/port/relinter/ingles/info_invest_estrang-e.asp

I have two accounts with Banco do Brasil and HSBC. It is true that sometimes Banco do Brasil takes a little longer. I transfered funds last month to Banco do Brasil and it took a while. I believe it took 3 days. It is certainly a nervous process while you are waiting for the funds to hit your account.

In both the case of HSBC and Banco do Brasil, you have to sign a form that basically states that the money is yours and what you will do with the money. That is, that you are going to purchase something for your personal use, as opposed to invest or purchase a business etc.

On another note. I also opened up an American account with HSBC. The reason is that my friends tell me that there is a way to link your American and Brazilian HSBC accounts. Once they are linked then you can transfer money between the two accounts in seconds, and without any fees.

First of all, thanks for the nice post’s Rob! I’m in the same situation as some of the people above, with the exception that I’m European. I’m married with a Brazilian which has a bank account. I’m currently applying for my Visa, so don’t have a RNE and thus bank account yet.

I would like to transfer some monies to her account so we would be able to buy an apartment, car,… in short invest a little and prepare our life’s here. In short, could anyone inform me if it’s just as simple as wiring the money (around 60000$ the first time) and around 400000$ tot 500000$ in the second payment (I’m selling my apartment).

I’ve seen a lot of posts where I read that the Banco Do Brazil will hold the money for some time – and in many times you have to prove that the money is yours. How do I do this? In this case I’ll be transferring the money from my account to her private account…

Thanks !

I have also kept my American citizenship. I also still have substantial income in the United States and continue to pay income tax. If you are going to 1) move to Brazil, 2) maintain your citizenship, and 3) discontinue paying American income tax, then there is a chance that you owe money on your interest in Brazil. You should check with an accountant. If this is the case, you are also eligible for an exemption where your first $80,000 of income is tax free.

I am not sure my first e-mail got through. I am worried about all these investments in Brazil and the tax liabilities in the US. Are people using the IRS form 1116 to claim taxes paid in Brazil as a legal tool to reduce their tax liabilities in the US ? If not what should be the best way considering that the fact that Brazil and the US don’t have a tax treaty but, at the same time, any income in Brazil has to be reported in the US (this is valid for US citizens and US residents)?

Thanks,

Worley

I am looking for info on how US residents could make the process of paying US taxes on investments in Brazil easier and / or more straightforward – I am referring to CDs, interest, stock dividends (“dividendos” and “juros sobre capital proprio”), etc.

Thanks,

Worley

The documentation requirements have changed. In order to open a bank account in Brazil, you need a permanent residence card. You can either get this by investing in Brazil, retiring in Brazil, or marrying a Brazilian.

Would like to invest in CDI in Real with HSBC, a current premier customer. Residence of Ecuador. What is the deposit rate they are offering and the documentation required?

Many thanks.

alanlee