Opening a business bank account in Brazil can seem complex at first — especially if you’re a foreigner, digital entrepreneur, or small business owner with no prior exposure to the Brazilian financial system. But with the right guidance and tools, the process becomes much more accessible, particularly in 2025, when digital banking is rapidly expanding across the country.
This guide will walk you through every step of the journey: understanding account types, preparing documentation, choosing the right bank (traditional or digital), and navigating the legal requirements for individuals and companies — including MEIs (Microempreendedor Individual), startups, and foreign entities.
Why Open a Business Account in Brazil?
If you’re planning to operate a business in Brazil — even as a freelancer, partner, or remote service provider — having a business bank account is not just optional: it’s legally required for CNPJ-registered entities (CNPJ is Brazil’s equivalent of a company tax ID). It also offers multiple operational and financial advantages:
- Professional credibility: Clients and suppliers prefer payments and contracts with legally recognized business accounts.
- Access to credit: Many banks offer specific credit lines, loans, and investment opportunities only to PJ (Pessoa Jurídica) accounts.
- Legal compliance: Tax declarations and bookkeeping are smoother when all business transactions are separated from personal funds.
- Integration with accounting systems: Most business accounts integrate with invoicing tools and ERPs (especially for MEIs and small businesses).
- Payroll and supplier payments: Using a company account allows you to automate payments and employee deposits under local laws.
PJ vs. PF: Understanding Account Types in Brazil
In Brazil, there are two main types of bank accounts:
- PF (Pessoa Física): Personal account, for individuals. Not suitable for business transactions.
- PJ (Pessoa Jurídica): Corporate or business account. Mandatory for companies, including MEIs.
💡 Even sole proprietors and MEIs must open a PJ account if they intend to issue invoices or receive payments under their CNPJ.
Many foreign business owners assume they can operate under a personal account — but that limits credibility, access to tools, and can raise compliance issues with Receita Federal (the Brazilian IRS).
How to Open a Business Bank Account in Brazil
Can Foreigners Open a Business Bank Account in Brazil?
Yes, but there are conditions. Foreigners can open both personal and corporate accounts in Brazil. The key is having a valid CNPJ and a local legal representative — or being registered as a permanent resident or investor.
Here’s what foreigners generally need to open a PJ account:
- Valid CNPJ (Brazilian company registration number)
- Company’s Articles of Incorporation or MEI certificate
- Proof of address in Brazil
- Official ID and CPF (individual tax number) for the legal representative
- Business plan or activity description (sometimes requested)
- Power of attorney if you’re acting via a local accountant or partner
💬 Tip: It’s highly recommended to work with a local accountant (“contador”) or legal advisor when starting a business in Brazil as a foreigner.
What is MEI and Can They Open a Business Account?
MEI (Microempreendedor Individual) is a simplified business classification in Brazil for solo entrepreneurs earning up to R$ 81,000 per year. It’s ideal for freelancers, consultants, small retailers, and service providers.
Opening a PJ account as a MEI is easier than for other business types. Most digital banks already offer exclusive MEI accounts with benefits like:
- Free or low-fee monthly maintenance
- Pix transfers (instant payments)
- CNPJ-based billing
- Digital credit card
- Access to business loans
The only documents required are:
- Your MEI certificate (Certificado de Condição de Microempreendedor Individual)
- CPF and RG or CNH (ID documents)
- Proof of address
- CNPJ confirmation
Some banks even approve accounts automatically once your MEI is active and registered.
Digital vs. Traditional Banks: Which Is Better?
In Brazil, business owners can choose between traditional banks (like Itaú, Bradesco, Santander) and digital banks (like Nubank, Inter, C6 Bank). The best choice depends on your needs, but here’s how they compare:
| Feature | Traditional Banks | Digital Banks (Fintechs) |
|---|---|---|
| Account opening | Often in-person | 100% online |
| Monthly fees | R$50–R$150 | R$0 to R$29 |
| Bureaucracy | High | Low |
| Support | Physical branches | App & Chat only |
| Access to credit | Broad, but formal | Digital credit via app |
| Ideal for | Large companies, payrolls | Freelancers, MEIs, startups |
Nubank PJ, for example, allows MEIs and companies with simple structures to open PJ accounts via app in less than 48 hours — with Pix, invoicing tools, and card management included.
Required Documents for Opening a Business Account
While each bank has specific rules, most will ask for:
- ✅ Company registration (CNPJ) issued by Receita Federal
- ✅ Articles of incorporation or MEI certificate
- ✅ CPF and ID (RG or CNH) of the company representative
- ✅ Proof of business address
- ✅ Secondary documents (optional): tax status certificate, municipal license, proof of income
💡 Digital banks typically require fewer documents and are less strict about physical address proof — especially for MEIs and online businesses.
How to Open a Business Bank Account in Brazil
Can You Open a Business Account Remotely?
Yes. As of 2023, most digital banks and even some traditional institutions allow remote opening of PJ accounts in Brazil, provided you have:
- A valid CNPJ
- Digital copies of required documents
- Brazilian phone number and address (for contact)
- A CPF and government-issued ID
Some platforms will perform facial recognition during the onboarding process via mobile app.
🟢 Inter, Nubank, and Cora are among the most recommended options for opening business accounts remotely in Brazil.
What About CNPJ Without Physical Business Location?
If you’re running a remote or online business and don’t have a storefront or office, you can still register a CNPJ using:
- Your home address (if allowed by city regulations)
- A virtual office service (“endereço fiscal”)
- A co-working space that offers business registration
This is especially common among digital entrepreneurs and freelancers working with international clients.
Comparing the Best Business Banks in Brazil (2025 Edition)
Choosing the right bank can make or break your financial efficiency as an entrepreneur in Brazil. In recent years, the growth of digital banks has shifted the playing field, offering flexible alternatives to traditional banking giants. Whether you’re a MEI, a foreign founder, or a startup operator, finding the right business account depends on your priorities: cost, convenience, credit access, support, or integrations.
Let’s compare the leading options based on categories relevant to modern entrepreneurs.
Nubank PJ: The Digital Pioneer for Small Business
Nubank is Brazil’s most well-known digital bank and one of the first to offer free PJ accounts specifically designed for MEIs and small businesses. Their interface is sleek, their onboarding process is fully online, and their customer support is fast via chat.
Main benefits:
- Free business account with Pix
- Digital debit and credit card
- Automatic invoicing via CNPJ
- Easy integration with MEI system
- Invoice generator and QR Code payment
Limitations:
- Limited credit lines for new companies
- No in-person service (100% app-based)
- Not ideal for complex company structures (LTDA, S.A.)
💡 Ideal for: MEIs, freelancers, and solo entrepreneurs looking for simplicity and low cost.
Inter Empresas: Full-Service Banking with No Fees
Banco Inter offers a robust business account with zero monthly fees, even for larger PJ structures. Unlike Nubank, Inter supports LTDA, EIRELI, and S.A. entities — making it attractive to startups and small corporations.
Features:
- No maintenance or transaction fees
- Free TED and Pix transfers
- Business debit and credit cards
- Access to Inter’s investment platform
- Open via app or web
Bonus: Inter is one of the few digital banks offering international accounts (dollar-based), a major plus for import/export businesses.
💡 Ideal for: Startups, service providers, and companies with frequent transfers or international needs.
Cora: Built for Microbusinesses
Cora was created with microentrepreneurs in mind. It focuses on offering fast, intuitive solutions for people who don’t have a finance department or bookkeeper. With Cora, you can open a PJ account in less than 10 minutes.
Highlights:
- Simple app with intuitive design
- No monthly fees
- Invoicing and billing features
- Virtual and physical debit cards
- Real-time financial dashboard
Drawbacks:
- Credit options are limited
- Few integrations with external ERPs
- No physical card until requested
💡 Ideal for: Digital service providers, new MEIs, and freelancers.
Traditional Banks: Still Useful?
Major institutions like Itaú, Bradesco, Banco do Brasil, and Santander continue to dominate Brazil’s corporate banking landscape. However, they are generally better suited to large enterprises or businesses that require:
- Physical branches and personal managers
- Payroll services for teams
- High-limit credit cards or overdrafts
- Access to BNDES and public funding
Challenges with traditional banks:
- High monthly fees (R$50+)
- Bureaucratic onboarding process
- In-person paperwork
- Slower digital features
💡 Not recommended for MEIs or foreigners unless there’s a specific institutional need.
Banking Costs and Hidden Fees
In 2025, most Brazilian banks — even digital ones — offer some version of a free PJ account, but you still need to watch out for hidden charges.
Here’s a breakdown of what to monitor:
| Item | Digital Banks | Traditional Banks |
|---|---|---|
| Account maintenance | Free or R$10–R$29 | R$50–R$150 |
| Pix transfers | Free | Often limited |
| Wire transfers (TED/DOC) | Free or R$2–R$5 | R$10–R$20 per operation |
| Checkbook | Not offered | Available (extra cost) |
| Deposit via boleto | Free or fixed rate | Variable |
| Card issuance | Free to R$29 | R$30–R$80 |
Always read the terms of use and fee tables (“tabela de tarifas”) before opening your PJ account.
Using Your Business Account for Payments and Pix
One of the biggest innovations in Brazil’s financial system is Pix — the instant payment system that allows transfers in seconds, 24/7. All major business accounts now support Pix, and it’s essential for MEIs and startups.
Key use cases for Pix in PJ accounts:
- Receive payments from clients
- Pay suppliers, freelancers, and bills
- Integrate with e-commerce platforms
- Accept QR Code payments in physical or online stores
You can also issue invoices with Pix links, making it easier for clients to pay without manual banking details.
Issuing Boletos (Payment Slips)
Many business clients in Brazil still prefer using boletos bancários, especially for corporate billing. Digital banks like Cora and Inter allow you to generate boletos directly from the app — including due date, amount, and automatic tracking.
Some banks charge per boleto (R$2–R$5), while others include it in free plans.
Boleto is still a crucial tool for B2B services, schools, real estate payments, and utility bills.
How PJ Accounts Integrate with Accounting and Tax Systems
In Brazil, all businesses with a CNPJ must declare income and pay taxes monthly (Simples Nacional, Lucro Presumido, or Real). Having a PJ account makes this much easier by:
- Separating personal and business funds
- Allowing accountants to track revenue directly
- Enabling integration with ERP or bookkeeping platforms
Some banks (like Inter Empresas) even export statements in .OFX or .CSV formats — which accountants can import directly into tax software.
💡 If you’re a MEI, your obligations are simpler — usually just one monthly payment (DAS), but you still need to declare annual revenue.
Can You Receive International Payments?
Yes, but not every business account in Brazil supports this directly. Here are the most common solutions:
🔸 Use a fintech like Payoneer, Wise (ex-TransferWise), or Revolut
Link your PJ account to receive money from abroad and convert it to BRL.
🔸 Open a multicurrency account via Inter Global
Inter offers dollar and euro accounts linked to your PJ account, ideal for import/export.
🔸 Invoice in USD or EUR
You can send invoices to international clients and request transfer via SWIFT to your business account, but be aware of fees and delays.
For MEIs and freelancers, linking Nubank PJ to a Wise or Payoneer account is the simplest method.
Is It Worth Having Multiple Business Accounts?
Some entrepreneurs choose to keep:
- One main PJ account (e.g., Inter or Nubank)
- One fintech wallet (e.g., Cora or PagBank)
- One multicurrency account (e.g., Wise or Inter Global)
This setup allows flexibility with domestic payments, boleto generation, and international operations — all with minimal fees.
Step-by-Step: How to Open a Business Bank Account in Brazil
Now that you understand the types of accounts, the best banks, and the advantages of digital services, it’s time to walk through the complete step-by-step process of opening your PJ account in Brazil — whether you’re a local entrepreneur, a MEI, or a foreign business owner.
This walkthrough covers both digital and traditional routes, showing how to open your account with minimal friction.
Step 1: Get Your CNPJ
You cannot open a business account in Brazil without a valid CNPJ (Cadastro Nacional da Pessoa Jurídica), the national registry of legal entities.
There are three main ways to obtain one:
- Register as a MEI (Microentrepreneur)
- Done via the Portal do Empreendedor (https://gov.br/mei)
- Takes about 10 minutes
- Automatically issues your CNPJ, business name, and simplified tax status
- Open a LTDA or EIRELI company
- Requires help from a registered accountant
- You’ll need:
- Articles of incorporation
- Proof of partners’ identities and addresses
- Legal representation documents (especially for foreigners)
- Foreign investment route
- Requires legal representation in Brazil
- You’ll register with Receita Federal via an attorney or accounting firm
- This process includes creating a local branch or subsidiary
💡 Tip: For freelancers and digital creators, MEI is often the fastest and most cost-effective option.
Step 2: Choose Your Bank (Digital or Traditional)
Now that you have a CNPJ, it’s time to decide which bank will host your business account. As discussed earlier, digital banks are highly recommended for their ease, speed, and cost-efficiency.
Checklist before choosing:
- Does the bank support your business structure (MEI, LTDA, foreign)?
- Are boleto and Pix included for free?
- What are the credit line conditions?
- Can you receive international payments if needed?
- Is support available in English (if you’re a foreigner)?
✅ Digital banks like Nubank, Inter, and Cora allow you to simulate the onboarding process via app before committing.
Step 3: Gather the Required Documents
The next step is preparing the necessary documents for account verification. While each bank may request slightly different items, the common documentation includes:
For MEIs:
- CNPJ confirmation (available at gov.br)
- MEI certificate (Certificado de Condição de MEI)
- CPF and RG (or CNH)
- Proof of address
- Active phone number (preferably with WhatsApp)
For Other Companies (LTDA, EIRELI, S.A.):
- Articles of incorporation (Contrato Social)
- CNPJ registration number
- Documents of all partners (CPF, ID, proof of residence)
- Proof of commercial address
- Operating license (Alvará, if required by city)
- Tax compliance certificate (Certidão Negativa de Débitos, if needed)
- Declaration of UBOs (ultimate beneficial owners), in some banks
For Foreigners:
- Valid passport
- CPF (individual taxpayer number)
- Local address in Brazil (or use of a fiscal domicile)
- Power of attorney for your Brazilian legal representative
- All business registration documents
📌 Some banks allow uploading PDFs and signing documents digitally. Others may request notarized or translated versions (in case of foreign documentation).
Step 4: Start the Application Process
👉 For Digital Banks:
- Download the bank’s mobile app (Nubank, Inter, Cora, etc.)
- Select the option “Open business account” or “Conta PJ”
- Submit your CNPJ
- Upload required documents
- Take a selfie or perform a facial recognition test
- Fill out a brief business profile questionnaire
- Wait for confirmation — usually within 1 to 3 business days
👉 For Traditional Banks:
- Visit a branch with all original documents
- Meet with a business account manager
- Provide your CNPJ, articles, IDs, and address proof
- Fill out several paper forms
- Schedule a return date for account activation
- Receive access credentials by mail or in person
⏱ Time required: Digital banks can open your account in under 72 hours. Traditional banks may take up to 10 business days.
Step 5: Activate and Configure Your Account
Once your account is approved, you’ll need to set up key functions:
- Configure Pix with your CNPJ or phone/email
- Request a business debit or credit card
- Activate two-factor authentication
- Set up push notifications for transactions
- Add your accountant’s email or login for statement access
- Connect your bank to external platforms (if needed)
Most digital accounts offer web access + mobile app, allowing full control from anywhere.
Step 6: Issue Invoices and Receive Payments
Now that your PJ account is active, you can start using it to:
- Send payment links to clients (via Pix or boleto)
- Accept QR Code payments (for stores and service professionals)
- Generate official invoices (Nota Fiscal, if required)
- Automate recurring charges or subscriptions
- Track income for tax purposes
💬 Note: If you’re a MEI, you can issue simplified invoices (Recibo or Nota Fiscal Avulsa) depending on your state and city rules.
Common Reasons for Account Rejection (And How to Avoid Them)
Sometimes, banks reject PJ account applications — especially when the applicant is a foreigner or new entrepreneur. Here’s what usually causes rejections and how to avoid them:
| Reason | How to Avoid |
|---|---|
| Incomplete or outdated documentation | Double-check every file before uploading; use official documents from Receita |
| CNPJ not registered correctly | Verify CNPJ status via gov.br |
| No legal representative in Brazil | Hire an accountant or create a local POA if you’re a foreign applicant |
| Suspicious or inconsistent address | Use a valid address (home, office, or virtual office with documentation) |
| Mismatch between business activity and docs | Make sure your stated activity matches the CNAE in your CNPJ registration |
| Account used for personal transfers | Keep personal and business accounts separate, especially for MEIs |
How Long Does It Take to Open a PJ Account in Brazil?
| Bank Type | Estimated Time |
|---|---|
| Nubank PJ | 1 to 3 business days |
| Inter Empresas | 2 to 5 business days |
| Cora | Same-day approval possible |
| Itaú, Bradesco | 7 to 10 business days |
| Foreign-owned LTDA | 2 to 4 weeks (legal setup included) |
The key to faster approval is accuracy, document readiness, and choosing a bank aligned with your business size.
Managing Your Business Account After Opening: What to Know
Opening your PJ account is a big first step — but maintaining it properly is what truly enables your business to grow. Whether you’re managing client payments, paying taxes, or seeking credit, your bank account becomes the core of your financial operations.
In this section, we’ll cover what you need to keep in mind after your account is active, including cash flow management, credit access, integrations with accounting, and staying compliant with Brazilian tax rules.
Organizing Your Cash Flow Using a PJ Account
Your business account should reflect the entire financial health of your operation. That means you should avoid mixing personal and business expenses, and instead use your PJ account for:
- Receiving all payments from clients and platforms
- Paying service providers and suppliers
- Managing inventory purchases and operational costs
- Tracking recurring costs (tools, licenses, rent)
- Collecting invoices and Pix receipts
- Preparing for DAS payments (for MEI) or tax declarations (Simples, Lucro Presumido)
Tip: Use labels or notes in your banking app to organize transactions (many apps like Cora and Inter allow you to tag entries).
If you’re using more than one bank (e.g., Nubank for payments and Inter for transfers), keep a spreadsheet or use a personal finance app to consolidate your records weekly.
Setting Up for Recurring Expenses and Automation
As your business scales, your list of recurring expenses will grow: accounting software, cloud storage, internet plans, advertising, and tool subscriptions.
Digital banks now support automation for:
- Scheduled Pix transfers
- Automatic debit of boletos (rent, taxes, services)
- Virtual cards for online services like Canva, Google Workspace, Notion, etc.
If you’re managing a team, you can even configure salary transfers by uploading a batch of Pix IDs or bank accounts via spreadsheet.
Some banks (like Inter Empresas) also offer “pagamento de folha” (payroll) via integrations with HR tools.
Accessing Business Credit and Financing
Once your account is active and shows movement (usually after 3–6 months), your bank may offer credit products tailored to business needs. These include:
📌 Types of credit for PJ accounts:
- Overdraft line (cheque especial PJ)
- Activated automatically in some banks
- High interest — use only as emergency
- Working capital loan (capital de giro)
- Short- to mid-term loan for operations
- Usually requires at least 3 months of activity and CNPJ regularity
- Installment credit (parcelamento PJ)
- For equipment or software acquisition
- Rates vary per bank and credit profile
- Anticipation of receivables (antecipação de recebíveis)
- Advance payment from invoices or card sales
- Often used by e-commerce businesses or service providers
- Credit card PJ
- With higher limits than PF cards
- Can be issued with virtual or physical versions
Note: Digital banks use internal algorithms (based on Pix volume, boleto payment history, and account activity) to assign credit scores.
💡 To improve your access to credit:
- Use your account consistently
- Issue official invoices
- Pay boletos and Pix on time
- Keep your CNPJ and tax status regular
Integration with Accounting and ERP Systems
If you’re a MEI or a small business, you might be using simple spreadsheets for tracking finances. But as your business grows, integrating your PJ account with your accounting software or ERP becomes essential.
Here’s how most digital banks help:
- Export monthly statements in OFX or CSV format
- Enable automatic synchronization with platforms like Conta Azul, Nibo, or QuickBooks
- Generate reports by category or transaction type
- Assign access to your accountant via login or read-only credentials
Some banks like Banco Inter and Cora even allow you to share monthly reports via email with your accountant automatically — saving time and avoiding manual mistakes.
Tax Responsibilities and Payments
Operating a PJ account doesn’t just give you banking power — it also comes with legal and tax obligations. Understanding these responsibilities is crucial to avoid fines or suspension of your CNPJ.
For MEIs:
- Pay DAS (Documento de Arrecadação do Simples Nacional) monthly — fixed value, depending on your business type
- File annual declaration (DASN-SIMEI) every year by May 31st
- Track your gross income limit (R$ 81,000 per year)
For Simples Nacional, LTDA, or EIRELI:
- File monthly or quarterly tax declarations (with help of an accountant)
- Collect and report NF-e (Nota Fiscal Eletrônica) for every service/product sold
- Pay ISS, ICMS, or IRPJ/CSLL, depending on your industry and location
- Maintain financial reports and archives
Your PJ account plays a central role here, as the Revenue Service (Receita Federal) often monitors incoming Pix, transfers, and invoices to cross-check against tax declarations.
💡 Keep your personal and business accounts separate to avoid fiscal confusion.
Advanced Use: Connecting APIs and Automations
Some modern businesses may want to go a step further by automating their banking and financial operations via APIs (Application Programming Interfaces).
Banks like Inter and Cora offer developer portals where you can:
- Connect invoicing tools directly
- Generate automated Pix keys and QR Codes for e-commerce
- Track receivables in real time
- Build financial dashboards from account data
If you’re working with an ERP developer or tech team, you can use these tools to integrate your PJ account with your billing platform, CRM, or internal system.
This is especially powerful for:
- SaaS companies
- E-commerce operations
- Agencies with recurring billing
- Businesses that rely on analytics
Managing Multiple CNPJs or Business Lines
If you run multiple businesses (e.g., one MEI for consulting and one LTDA for a startup), you’ll need to:
- Open separate PJ accounts for each CNPJ
- Assign different Pix keys, cards, and contacts per company
- Use distinct bookkeeping and tax records
Avoid mixing CNPJs in a single account, even if they’re both yours — it can trigger compliance issues and complicate your reporting.
Digital banks like Nubank and Inter support multiple business accounts under the same app, making management easier with account switching.
Managing Risks, Security, and When to Close or Switch Your PJ Account
Having a business account in Brazil is essential — but simply opening one isn’t enough. Entrepreneurs must also stay informed about security risks, account lifecycle, fraud prevention, and what to do if they need to close or switch banks.
In this section, you’ll learn about digital protection, common threats, and how to responsibly manage your PJ account long term.
Digital Security: How to Protect Your PJ Account
As digital banking grows in Brazil, so does cybercrime. Phishing, account takeover, and social engineering scams targeting business owners are rising. Whether you use Nubank PJ, Inter Empresas, or any other digital platform, your security hygiene is critical.
Key steps to protect your business bank account:
- Activate 2FA (Two-Factor Authentication)
All modern banking apps allow SMS, email, or authenticator code verification. Enable this on day one. - Never share your login credentials
Even your accountant should use read-only access when needed. - Avoid public Wi-Fi
Always access banking platforms from secure, encrypted networks. - Use secure passwords
Combine uppercase, numbers, and symbols — and change them every 3–6 months. - Enable transaction alerts
Receive push notifications, SMS, or email whenever money leaves or enters your account. - Watch out for fake Pix links or boletos
Fraudulent QR Codes and copied boletos are common scams in Brazil. Use only bank-issued documents or integrations. - Regularly update your app and operating system
Patches fix known vulnerabilities. Outdated apps are easier to breach.
Common Scams That Target Business Accounts
Knowing the enemy is half the battle. Here are scams commonly reported by PJ account holders in Brazil:
| Scam Type | Description | How to Avoid |
|---|---|---|
| Phishing Emails | Fake emails from “banks” requesting login or data | Never click on unsolicited links |
| Boleto Cloning | Fake payment slips with redirected Pix keys or barcodes | Generate boletos directly inside your app |
| Social Engineering | Scammers pretending to be clients, requesting refunds or fake receipts | Always verify identity before refunding anything |
| WhatsApp Pix Hijack | Fake profiles request urgent Pix transfers via WhatsApp or SMS | Call the person first. Never transfer blindly. |
| Fake Bank Support Calls | Someone claims to be from your bank and asks for codes or passwords | No real bank will request your password or token |
| App Clones | Malicious banking app copies found on unofficial stores | Download only from App Store or Google Play |
What Happens If You Lose Access to Your Account?
If your phone is stolen, your email is hacked, or your account is blocked, here’s what to do:
- Contact your bank immediately via their official support channel (usually via app or phone).
- Block your Pix keys via https://www.bcb.gov.br/meupix if needed.
- Change passwords for your email and all related services.
- Check for unauthorized transactions and notify your accountant.
- File a police report if personal data was compromised.
💡 Many digital banks offer “temporary account freezing” to prevent transfers until you regain access.
How to Close or Migrate a PJ Account in Brazil
Closing a business account in Brazil is relatively simple, but it’s important to do it properly — especially for accounting and compliance reasons.
Reasons to close or switch your PJ account:
- High maintenance or transaction fees
- Limited access to digital features
- Poor customer service
- Better offers at competitor banks
- Business restructuring or closing the CNPJ
Steps to close your PJ account:
- Ensure your CNPJ is still active and in good standing
- Clear any pending boleto payments or Pix obligations
- Withdraw or transfer remaining balance
- Download all bank statements for accounting
- Notify your accountant
- Request account closure through the bank’s app or in-person
- Receive confirmation email or digital document
💬 Note: For MEIs, if you’re also closing your CNPJ, you should do that first at gov.br and then close the PJ account.
How to Migrate from One Bank to Another
Switching banks doesn’t require starting from scratch. Here’s how to migrate efficiently:
- Open the new PJ account first
- Test functionality (Pix, boletos, cards)
- Update your clients and service providers with the new details
- Redirect all active boletos and Pix charges
- Change billing integrations (e.g., Stripe, PagSeguro, ERP)
- After 15–30 days, close the old account after confirming no pending activity
Banks like Cora and Inter make it easier by offering account setup templates for quick migration.
Handling Business Account in Case of Company Closure
If you’re shutting down operations, you’ll need to:
- Request CNPJ cancellation through Simples Nacional portal (for MEIs) or via accountant (for other entities)
- Declare final tax returns
- Close PJ account after confirming no open obligations
- Archive bank statements for 5 years (legal requirement)
Failing to close your account or cancel your CNPJ properly can result in future penalties, tax inconsistencies, or blocked CPF/CNPJ usage in future companies.
Can You Reopen a Closed PJ Account?
If you closed your PJ account but kept your CNPJ active, you can:
- Reopen an account with the same bank, or
- Open a new one elsewhere using the same documents
Just ensure your CNPJ remains active and has no outstanding debts.
For MEIs, it’s even easier — you can pause or resume operations via gov.br without closing your bank account.
How Often Should You Review Your Business Banking Setup?
At least once per year, ask yourself:
- Are my banking fees still competitive?
- Does my current bank offer all the services I need?
- Has my business outgrown my current PJ account?
- Am I using tools (Pix, boletos, credit) to their full potential?
- Am I exposed to unnecessary security risks?
Performing this “banking audit” annually ensures your company remains lean, secure, and competitive.
Final Considerations: Building Financial Success Through the Right Business Account
Opening a business bank account in Brazil is more than a bureaucratic step — it’s a strategic move that opens the door to compliance, credibility, and sustainable growth. Whether you are a MEI just starting out, a foreign entrepreneur expanding your operations, or a tech startup scaling in Latin America, your account is not just a bank — it becomes the foundation of your company’s cash flow, taxes, and daily transactions.
Throughout this guide, we’ve shown that it is entirely possible to open and manage a business account in Brazil 100% online, often with no maintenance fees, and with access to advanced tools like Pix, boletos, and credit lines. Digital banks like Nubank, Inter, and Cora are redefining the business banking landscape and making it accessible even to solo entrepreneurs or remote-first companies.
Why Your Business Account Matters More Than Ever in 2025
In today’s digital economy, separating personal and business finances is not just best practice — it’s a legal and operational necessity. With tighter controls from Receita Federal and higher expectations from clients, vendors, and fintech platforms, businesses that don’t adopt a proper financial structure may face limitations in:
- Applying for loans or grants
- Issuing invoices and collecting payments legally
- Demonstrating financial health to investors or partners
- Accessing digital payment ecosystems like Mercado Pago, PicPay, or PagSeguro
- Filing taxes correctly
On the other hand, companies with an active PJ account, clear documentation, and a digital-first mindset are more likely to thrive, scale faster, and earn customer trust.
Common Mistakes to Avoid After Opening Your Account
Even after successfully opening a PJ account, many business owners fall into traps that hurt their credibility or financial health:
- Using the PJ account for personal expenses
- Forgetting to issue invoices for revenue
- Failing to declare monthly DAS (for MEIs)
- Ignoring banking fees or hidden costs
- Letting the CNPJ become inactive while still operating
To avoid these risks, it’s essential to treat your PJ account as a business-only asset — just like your domain name, your brand, or your inventory.
How Digital Transformation Connects to Business Banking
Opening and managing a business bank account in Brazil is a key component of the broader digital transformation that businesses around the world are going through. If you’re serious about modernizing your operations, improving client experience, and growing your business with confidence, digital infrastructure — including banking — must be part of your strategy.
We explore this broader concept of transformation in our article:
🔗 What is Digital Transformation and Why It Matters?
It’s a highly relevant read for founders, managers, and consultants who want to connect financial structure with operational agility.
Where to Learn More (Official Resources)
If you want to go further and validate any requirements, rules, or laws related to banking in Brazil, these official sources are the most accurate and frequently updated:
These sites offer details on tax models, business registration, MEI rules, and open banking APIs — especially useful if you plan to build automations or integrate fintech tools with your PJ account.
Final Words
Opening a business bank account in Brazil is not complicated if you understand the structure — and now you do. With a clear process, digital options, and proper documentation, you can open your account in just a few days, even as a foreigner or first-time entrepreneur.
Your next step is to act. Choose your bank, prepare your documents, and begin the process. The sooner your account is active, the sooner you’ll have full financial control and legal support for your operations.
Because in today’s market, formality is flexibility, and structure leads to scale.
por LuxStudio