Opening an Angolan Investment Account from Brazil
Brazilian-resident Angolans and other investors in Brazil can open non-resident investment accounts in Angola under Aviso 15/19. This guide outlines the process, required documentation, and practical considerations.
Required Documentation
| Document | Details |
|---|---|
| Valid Passport | Angolan or Brazilian passport (with Angolan nationality proof if applicable) |
| Brazilian CPF | Cadastro de Pessoas Fisicas (Brazilian tax ID) |
| Angolan NIF | If available; otherwise, apply through the Angolan consulate |
| Proof of Address | Recent utility bill, bank statement, or Brazilian tax declaration (within 3 months) |
| Source of Funds | Bank statements, employment contract, or income tax declaration from Receita Federal |
| Photograph | Recent passport-sized photographs |
| Account Application Form | Completed and signed form from the chosen Angolan bank |
All documents must be notarized or apostilled. The Angolan consulates in Sao Paulo and Brasilia provide notarization services for documents destined for use in Angola.
Step-by-Step Process
Step 1: Choose an Angolan Bank Select a commercial bank in Angola that offers non-resident investment accounts. Major banks with experience serving diaspora clients include BAI, BFA, and BIC. Contact the bank’s international desk to confirm specific requirements.
Step 2: Prepare Documentation Gather and notarize all required documents through the Angolan consulate in Sao Paulo (Rua Voluntarios da Patria) or Brasilia. Allow 1-2 weeks for consulate processing.
Step 3: Submit Application Send the complete documentation package to the Angolan bank by courier or through the consulate. Some banks accept initial submission via email with original documents sent subsequently.
Step 4: Account Activation The bank processes the application, conducts KYC verification, and opens the account. This typically takes 2-4 weeks from receipt of complete documentation.
Step 5: Fund the Account Transfer funds from your Brazilian bank account via SWIFT international wire transfer. The typical route is BRL to USD (through your Brazilian bank) and then USD to AOA (through the Angolan bank). Transaction fees vary by bank but typically range from R$100-250 per transfer plus FX conversion costs.
Step 6: Begin Investing Once funded, instruct a CMC-licensed broker to execute trades on BODIVA or subscribe to bond offerings.
Practical Tips
- Start the process well before any planned investment date — allow at least 4-6 weeks
- Maintain digital copies of all submitted documents
- Request a named contact at the Angolan bank for ongoing communication
- Consider using banks with presence in both countries to simplify transfers
- Consult a tax advisor on obligations in both Brazil and Angola. See Brazil-Angola tax guide
Estimated Costs
| Item | Approximate Cost |
|---|---|
| Document notarization (consulate) | R$50-200 per document |
| International wire transfer | R$100-250 per transfer |
| FX conversion spread | 1-3% (BRL/USD) + 0.5-2% (USD/AOA) |
| Broker commission (BODIVA) | Negotiable, typically 0.5-1.5% of transaction value |