Publicado em 05/08/2026

Banco Central do Brasil eases rules for foreign currency deposit accounts and international transactions

The Banco Central do Brasil (“BACEN” or “BCB”) announced new rules under the Foreign Exchange Legal Framework regulations.

BACEN Resolution 575 (“Resolution”) amended BCB Resolutions No. 277 and No. 278, dated December 31, 2022, with the aim of expanding the circumstances under which foreign currency accounts may be opened and maintained in Brazil. The measure aims to facilitate international transactions, reduce costs, and increase the efficiency of the foreign exchange market.

The main change consists of expanding the list of legal entities that may hold foreign currency deposit accounts in the country. In addition to the cases already provided for in the regulations, the following entities now have access to these accounts:

1. Companies that export goods, provided that the funds held in such accounts derive exclusively from export revenues and other funds originating from abroad. In such cases, conversion to Brazilian reais must occur through a regularly contracted foreign exchange transaction, and withdrawals, cash deposits, and transactions via checks are prohibited;
2. Companies with debts incurred abroad;
3. Companies in which foreign investors hold an equity interest; and
4. Foreign legal entities that engage in credit transactions or direct investments in Brazil.

Furthermore, under the terms of the Resolution, any transfer between foreign currency deposit accounts covered thereby may now be carried out without the need to enter into a foreign exchange transaction. This measure simplifies operational procedures and helps reduce costs in transactions between these accounts. This exemption does not apply, however, to cases where regulations require the conversion of amounts into Brazilian reais through a foreign exchange transaction, as is the case with transactions governed by the new Article 75-B, summarized in item A below.

To this end, the Resolution sets forth the rules that must be followed, as summarized below:

1. The new Article 75-B establishes that transactions carried out in foreign currency deposit accounts held by these companies are now additionally subject to the country’s foreign capital regulations. In this context, credits and debits to these accounts must stem exclusively from external credit transactions or foreign direct investment, and the conversion of amounts into Brazilian reais must occur through a foreign exchange transaction, in accordance with current regulations. The provision also maintains the prohibition on withdrawals, cash deposits, and transactions involving checks.
2. The Resolution also included Article 80-A, which establishes a new reporting obligation for institutions authorized to operate in the foreign exchange market that maintain foreign currency deposit accounts. Under the provision, such institutions must submit the information set forth in Annex X of the Resolution to the Central Bank of Brazil monthly, through the Foreign Exchange System, by the fifth day of the month following the reference month.

The new Resolution amended the following provisions set forth in BCB Resolution No. 278:

1. Deposit Account Holders

Article 3-A of BCB Resolution No. 278 now requires individuals eligible to hold foreign currency deposit accounts to prove the existence of outstanding external credit transactions or foreign direct investment, subject, respectively, to Articles 23 and 32 of BCB Resolution No. 278.

The sole paragraph of that article further stipulates that account holders falling under subparagraphs XIII and XIV of the main text of Article 70 of BCB Resolution No. 277 must declare to the financial institution responsible for the account that the information regarding their respective external credit and foreign direct investment transactions is duly registered and updated in the SCE-Crédito or SCE-IED systems.

2. External Credit Transactions

Payments arising from these transactions are limited to the amount necessary to settle the principal of the debt, interest, and contractual charges.

3. Provision of Information

Inclusion of two additional reporting obligations for the person responsible: to ensure the correction of reported information that is incorrect, outdated, or incomplete; and to ensure the correction of information when requested by the Central Bank of Brazil.

The Resolution simplified Article 23, which now applies in a general manner, removing the obligation for the responsible party to provide information both in cases where funds enter the country and in cases where they are held abroad.

4. Reporting of Transactions in SCE-Crédito

The nature of the transaction and its payment terms must be reported in SCE-Crédito by the time the funds enter the country, when such entry occurs through a foreign exchange transaction or the transfer of funds on behalf of a third party into a non-resident account denominated in reais. In all other cases, the registration may be made within thirty days after the disbursement of the funds, the delivery of the goods, or the provision of the service by the creditor, whether abroad or in Brazil.

Furthermore, the Resolution added the following transactions to the list of those required to be reported in SCE-Crédito within 30 days of their occurrence: assignment of credit; payments and receipts settled using virtual assets; and payments and receipts settled through debits and credits to a foreign currency deposit account in Brazil.

5. Payment Schedule

The Resolution also amended the wording regarding information on the payment schedule for foreign credit transactions. The information necessary for the execution of payments remains subject to disclosure by the responsible party within thirty days, as applicable. However, the new wording replaced the reference to “execution of remittances,” contained in the previous version of BCB Resolution No. 278, with “execution of payments.”

In practice, the Resolution impacts transactions with foreign investors, funding structures, cross-border cash flows, and other transactions, in addition to increasing flexibility in the management of foreign currency funds. Although it maintains certain restrictions on the use of foreign currency for payments within Brazil and on cash withdrawals and deposits, the regulation strengthens foreign currency accounts as an efficiency tool for companies and investors with international exposure.

The regulation does not alter the rules restricting the use of foreign currency for payments within Brazil, nor does it interfere with the determination of the exchange rate.

The new rules take effect on October 1, 2026.