Bank accounts in Brazil: a guide for non-resident companies
How foreign companies can hold and operate bank accounts in Brazil, in reais and now, under Resolution BCB 575/2026, in foreign currency, and the rules that govern each route.
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Brazil now offers non-resident companies two distinct account routes: the long-established account in reais, and, from 1 October 2026, foreign-currency deposit accounts for foreign direct investors and foreign lenders.
Brazil’s foreign exchange framework was rebuilt by Law 14,286/2021 (the novo marco cambial, in force since the end of 2022), under which the Central Bank of Brazil (BCB) regulates both accounts in reais held by non-residents (article 10) and accounts in foreign currency held in Brazil (article 11). The main implementing rules are Resolution BCB 277/2022, which governs the foreign exchange market and both types of account, and Resolution BCB 278/2022, which governs the reporting of foreign capital flows.
Until now, foreign-currency accounts in Brazil were reserved for a narrow list of holders. Resolution BCB 575/2026, published on 18 June 2026 and in force from 1 October 2026, widens that list significantly: it reaches, for the first time, non-resident companies that hold a direct stake in a Brazilian company or that are creditors of external credit to Brazilian residents, alongside Brazilian exporters, Brazilian companies with external debt and Brazilian companies with a non-resident direct shareholder. This guide explains both routes and what the change means in practice.
The regulatory framework
Three instruments do most of the work: the foreign exchange statute, the BCB’s consolidated FX-market resolution, and the BCB’s capital-flows reporting resolution. Resolution BCB 575/2026 amends the last two.
Law 14,286/2021 modernised Brazil’s foreign exchange and international capital rules. Its article 10 provides that accounts in reais held by non-residents are opened and operated under the BCB’s regulation, aligned with resident accounts except where specific rules apply, and its article 11 permits accounts in foreign currency in Brazil in situations defined by the BCB.
Resolution BCB 277/2022 is the consolidated FX-market regulation, governing authorised institutions, foreign exchange operations, accounts in reais held by non-residents and, in its articles 70 and following, the closed list of eligible holders of foreign-currency deposit accounts. Resolution BCB 575/2026 expands that list.
Resolution BCB 278/2022 governs the provision of information on foreign capital to the BCB, including declaratory registration of foreign direct investment (SCE-IED) and external credit operations (SCE-Crédito). Resolution BCB 575/2026 also adjusts this resolution, recognising settlement through debits and credits in foreign-currency accounts and refining declaration timing rules.
The real remains Brazil’s sole legal tender for domestic payments. Neither Law 14,286/2021 nor Resolution BCB 575/2026 changes the restrictions on using foreign currency for domestic payments, and the BCB has been explicit that the reform does not interfere with exchange-rate formation. The new accounts are treasury and settlement infrastructure for international flows, not a step towards domestic dollarisation.
This guide uses “account in reais” for the non-resident account in Brazilian currency (historically known as a CC5 account under the pre-2022 rules), and “foreign-currency account” for the deposit account denominated in a foreign currency held with an institution in Brazil. The two are governed by different chapters of Resolution BCB 277/2022 and serve different purposes.
The account in reais: the established route
Any non-resident company can, in principle, hold a bank account in reais in Brazil. It is the standard vehicle for receiving and making payments in Brazilian currency, and movements through it to or from the rest of the world are treated as international transfers in reais, with their own reporting framework.
Foreign-currency accounts in Brazil: from narrow exception to practical tool
Deposit accounts denominated in foreign currency have always existed in Brazil, but only for a restricted list of holders set out in article 70 of Resolution BCB 277/2022. The list reflected specific operational needs rather than general corporate treasury use.
Before Resolution BCB 575/2026, the eligible holders were, in broad terms, institutions authorised to operate in the foreign exchange market, insurers, reinsurers and brokers for obligations in foreign currency, embassies, consulates and international organisations, companies holding oil and gas exploration and production rights, certain energy-sector and border-trade cases, and a small number of other specific situations. A foreign parent company, a foreign lender or an ordinary Brazilian exporter could not hold dollars on deposit in Brazil; their foreign currency had to be converted into reais through an exchange operation, or kept offshore.
The consequence for cross-border groups was a structural inefficiency: every international flow touching Brazil required a conversion leg, with its spread and IOF cost, even where the funds were destined to leave again in the same currency, and even where both ends of the flow belonged to the same economic group. Resolution BCB 575/2026 is the BCB’s response, and it is a significant one.
Resolution BCB 575/2026: who can now hold foreign currency in Brazil
Resolution BCB 575/2026, approved by the BCB’s board on 18 June 2026, amends Resolutions BCB 277/2022 and 278/2022 and enters into force on 1 October 2026, a lead time designed to let banks adjust systems and processes. It adds five new categories of eligible holder, two of which are non-resident companies.
What the change means for foreign groups
For non-resident companies with Brazilian subsidiaries or Brazilian borrowers, the practical gains are concentrated in three situations.
Holding funds in a foreign-currency account in Brazil does not change the tax treatment of the underlying flows (dividend withholding, interest withholding and IOF on exchange operations apply as before), and it does not replace the declaratory registrations of foreign capital. If anything, the account’s operating conditions make clean, timely SCE-IED and SCE-Crédito records more important.
Other routes worth distinguishing
Two neighbouring regimes are often confused with the accounts discussed above and serve different purposes.
Practical steps for a non-resident company
A high-level sequence for a foreign company planning to open and operate a Brazilian account under the new framework.
Key risks and practical points
Issues that arise frequently for non-resident companies banking in Brazil, and the points most likely to trip up early users of the new accounts.
For non-resident companies the account is the visible tip of a structure that rests on correct CNPJ registration, correct and timely SCE-IED and SCE-Crédito declarations, properly documented intercompany agreements, and a coherent dividend, interest and repatriation strategy. Weaknesses in that underlying structure surface quickly once flows start moving through a monitored account.
Need advice on banking and FX structures for Brazil?
Choosing between the account routes, confirming eligibility under the new rules and putting the registrations and documentation in order require analysis of your specific flows and structure.
This page is a summary only and does not constitute legal advice.
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