The idea of having a bank account abroad has moved from being a luxury for a few to a strategic necessity for many Brazilians. Whether to protect your assets from the devaluation of the real, invest in global markets, or facilitate international transactions, an account in a strong currency is a fundamental step. In this guide, we explore the main advantages and the path to opening yours.
1. Dollarization and Asset Protection
The main advantage is protection against the volatility of the local currency. By keeping part of your resources in an account in dollars, euros, or another strong currency, you preserve your purchasing power and protect yourself from economic crises and inflation in Brazil. It is the first step towards effective asset protection.
2. Access to Global Investments
An international account is the gateway to the world's largest markets. With it, you can invest directly in shares of companies like Apple and Google, in US Treasury bonds, or in global investment funds (ETFs), diversifying your portfolio in a way that would be impossible with only an account in Brazil.
3. Ease for Travel and Payments
For those who travel frequently or make purchases on international websites, an account abroad eliminates high IOF taxes, unfavorable exchange rates, and credit card limits. You get an international debit card to use like a local, with much more savings and convenience.
4. Receiving International Payments
Professionals who provide services abroad, exporters, or digital nomads benefit enormously by receiving payments directly in a strong currency. This avoids the bureaucracy and fees of international payment orders, simplifying cash flow and increasing profitability.
Where to Open and How to Start?
There are several safe jurisdictions with robust banking systems, such as the United States and Portugal. The opening process, however, can be complex, involving specific documentation (passport, proof of address, and proof of income) and choosing the right bank for your profile. A specialized consultancy like ECR can analyze your goals and facilitate the entire process, ensuring the best and safest options for your needs.