OPENING A BANK OR FINTECH IN BRAZIL IS CHEAP AND EASY NOW. HERE IS THE PROCEDURE.
As mentioned in my last post, Brazil has eased restrictions to foreign investment in the financial market. The text of the new regulation was a bit ambiguous about the definition of “branch”. But the Brazilian Central Bank has issued a public statement that indicates that the term “branch” is to be understood as “new company”. As a result, the process for incorporating a bank in Brazil has become much more streamlined. And, due to the current exchange rate, minimum capital requirements are very low. This post will give you a list of the minimum capital requirements for finance companies and a general overview of the process to obtain authorization from the Brazilian Central Bank. MININUM CAPITAL FOR FINTECHS THAT DO NOT ACT AS FINANCIAL INSTITUTION The definition of financial institution is not totally clear in Brazilian law. A good rule of thumb is that any company that provides loans at interest rates determined by the market (which, in case of… Leia mais
