Offshore Bank Account for Brazilians: Complete Guide 2026

Brazilians can hold a bank account abroad, but they must report it. Anyone with assets abroad totaling $1,000,000 or more on December 31 files the CBE with the Central Bank of Brazil. The income from these accounts goes into income tax, at a rate of 15% in the annual adjustment, under Law 14,754/2023.

Can a Brazilian have a bank account abroad?

Yes. Law No. 14,286/2021 (Lei 14.286/2021) calls "Brazilian capital abroad" the amounts, assets, rights and holdings of any nature held outside the country by residents. Having the account is legal. What the law requires is transparency: the Central Bank can regulate, monitor and request information about this capital (Art. 8 and Art. 10 of the law).

In practice, "offshore" here means an account in the name of the Brazilian, or of their company, in another country. It does not hide assets. The foreign bank reports the account to the account holder's country of tax residence, as explained below.

What types of institutions open accounts for Brazilians?

Three categories appear most often. Each institution sets its own acceptance policy, so confirm with the bank, before opening, whether it serves residents of Brazil.

Prices change often and vary by institution. Do not adopt numbers from blogs: ask the bank itself for its current fee schedule. For an overview of structure costs, see the guide how much it costs to open an offshore company.

What documents and steps does the bank require?

The bank needs to identify you and understand where the money comes from. Expect requests such as:

1. •Passport and a photo ID.
2. •Recent proof of address.
3. •Proof of income or assets (income tax return, contracts, statements).
4. •An explanation of the source of the funds to be deposited.
5. •For a business account: incorporation documents, ownership structure and identification of ultimate beneficial owners.
6. •Tax identification number (CPF and, if any, one from another country).

Some banks ask for a video interview. Documents in Portuguese often need translation, and documents issued outside Brazil may require an apostille. Confirm each requirement with the chosen institution.

When do I have to report the account to the Central Bank (CBE)?

You report when your assets abroad total $1,000,000.00 or more, or the equivalent in other currencies, on December 31. This is the annual CBE threshold, according to the Central Bank. The amount is the sum of all assets, not the balance of a single account.

If the deadline falls on a weekend or holiday, it moves to the next business day. The fine for failing to report ranges from BRL 2,500.00 to BRL 250,000.00 and can rise by 50% in some cases. See the rules and the Declarant's Manual on the Central Bank's CBE page.

How is an account abroad taxed in Brazil?

The income goes into the individual's annual income tax adjustment. Law 14,754/2023 taxes income from financial investments abroad at a rate of 15% on the annual portion, with no deductions from the tax base (Art. 2). Financial investments include, for example, interest-bearing bank deposits (Art. 3, § 1).

If the account belongs to a company you control, the rule changes. Profits earned by entities controlled abroad, in the cases of Art. 5 of the law, are taxed on December 31 of each year. This depends on the type of company, the source of income and the country, so take the case to an accountant.

To understand how the corporate structure fits into your planning, see our corporate structures page and the compliance service.

Does Brazil receive information about my account abroad?

Yes, when the account's country takes part in the automatic exchange of financial information. The Common Reporting Standard (CRS) makes banks in signatory countries report non-residents' accounts to the local tax authority, which passes the data to the account holder's country of tax residence.

Brazil's Federal Revenue Service (Receita Federal) confirms, in a 2024 manual, that it follows the e-Financeira and the tax identification numbers (NIF) of taxpayers with accounts reported to CRS signatory countries. It advises taxpayers to regularize omissions before any assessment. In other words: data cross-checking exists, and reporting correctly is the safe path.

Which jurisdictions do Brazilians usually consider?

The choice depends on what the account will be used for: investing, receiving payments from clients, running a business or keeping a reserve. Before deciding, compare the banks' acceptance policy, the country's reporting regime and the cost of maintaining the structure.

• •United States: common for those who run a U.S. company. See Delaware and the guide to Delaware LLC for Brazilians.
• •British Virgin Islands: a traditional jurisdiction for holding companies. See BVI.
• •Cayman Islands: used in investment structures. See Cayman Islands.
• •Singapore: Asian financial center. See Singapore.

To choose safely, talk to the team through our offshore banking service.

How do I open the account, step by step?

1. •Define the goal. Personal or business, investment or operations.
2. •Choose the jurisdiction and the institution. Confirm that it serves residents of Brazil.
3. •Gather and organize the documents, with translation and apostille when required.
4. •Submit the application and answer the bank's due diligence questions.
5. •Wait for approval and activate the account with the initial deposit, if any.
6. •Record the account for the annual income tax return and, if applicable, for the CBE.

What risks should I consider?

• •Account closure. The bank may end relationships that do not pass the compliance review. Keep documents up to date and the source of funds proven.
• •Currency risk. The foreign currency balance fluctuates in reais.
• •Regulatory risk. Reporting and taxation rules change. Review your situation every base year.
• •Reporting error. Omitting the account or the income can lead to fines. Report even when the amount is below the CBE threshold: the income tax obligation is separate.