Central Bank Expands Access to Foreign Currency Accounts

Does your company export goods, have debt incurred abroad, or a foreign partner in its capital? Then this new development from the Central Bank deserves your attention. In June 2026, the Central Bank published Resolution BCB No. 575, which expands who can open and how they can use a foreign currency deposit account within Brazil. The regulation has already been published, but only comes into effect on October 1, 2026, which gives time to assess the company's eligibility before the new rules take effect.

What changes with BCB Resolution No. 575?

Until now, maintaining a foreign currency account in the country was a possibility restricted to a few, such as financial institutions, insurance companies, embassies, and oil and gas companies. The resolution expands this scope to include legal entities that export goods, companies resident in the country that owe external credit, companies based in the country with direct participation of non-residents in their capital, and non-resident legal entities that are creditors of external credit to residents or have direct participation in the capital of a Brazilian company.

Two points deserve attention. The hypothesis created for exporters applies to legal entities that export goods, and not to every company that receives payments from abroad for services rendered. Furthermore, in the cases outlined in items XIII to XVI of article 70 of BCB Resolution No. 277, it is not enough to have debt abroad or a foreign partner in the capital, because the regulation requires current external credit or foreign direct investment operations, as applicable. For resident account holders under items XIII and XIV, information on these operations must also be declared and updated with the Central Bank, in the SCE-Credit or SCE-IED, as the case may be, and this must be certified to the bank responsible for the account.

How can these accounts be used?

The Resolution expands access to these accounts, but does not create a free-movement account in foreign currency for any purpose, and each category of account holder has its own rules. In the case of goods exporters, credits to the account must derive exclusively from export revenues and other values originating from abroad. In accounts related to external credit and foreign direct investment, credits and debits must derive exclusively from these operations, and account activity is also subject to foreign capital regulations in the country. In all cases, converting the amounts held in the account to reais continues to depend on a foreign exchange transaction.

Regarding what remains prohibited, it's important not to get too excited. The Resolution does not create a general authorization for making payments in foreign currency in Brazil and maintains the restrictions established by law for this type of payment. Cash withdrawals and deposits, as well as check transactions in these accounts, also remain prohibited.

What does this mean for your company in practice?

A relevant practical effect is the elimination of the need for foreign exchange transactions to transfer funds in foreign currency to and from these accounts, including when there is conversion between foreign currencies. In simple terms, transferring dollars received from abroad between accounts in foreign currency, or converting dollars into euros in this environment, no longer requires a foreign exchange contract. This does not mean that payments in foreign currency within Brazil have become unrestricted.

Depending on the structure of each operation, this design can reduce intermediate currency conversions, facilitate the management of international flows, contribute to the management of currency exposure, and reduce certain operational costs. Sectors intensive in foreign trade, external financing, and foreign investment, such as infrastructure, energy, and agribusiness, tend to feel this effect more acutely.

Regarding information provided to the Central Bank, it's important to distinguish between two things. The monthly obligation created by the regulation applies to authorized institutions that maintain these accounts, which must send the information stipulated in the regulation to the Central Bank monthly, and not to the company holding the account. However, the obligations of companies to provide and update information on external credit operations and foreign direct investment remain applicable where appropriate, alongside the requirements for proving operations within the exchange rate framework of Law No. 14,286/21 and anti-money laundering procedures.

Foreign currency accounts are no longer a privilege for the few and are becoming a management tool for companies with international connections. Since the rules only come into effect on October 1, 2026, now is the time to verify eligibility, organize transaction documentation, review internal controls, and align account usage with the company's corporate and exchange rate structure.

M&M closely monitors the evolution of the exchange rate framework and supports companies and investors in structuring their international operations safely, from foreign investment to the management of foreign currency flows.