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Gabriel Campoy Santos Pinto

55 11 3147 2741 gabriel.campoy@mattosfilho.com.br São Paulo – Paulista

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Central Bank raises minimum amounts for DCBE and record of transactions in non-resident bank accounts

​On July 30, the Central Bank of Brazil (“BACEN”) published two Resolutions by the National Monetary Council (“CMN”) with relevant changes to both residents in Brazil who own assets abroad and non-residents that hold deposit accounts in Brazil.

With the changes brought by CMN Resolution no. 4,841 of July 30, 2020, the filing of the annual Central Bank return (“DCBE”) is now mandatory only for individuals and legal entities domiciled in Brazil who hold assets abroad in the total amount of US $ 1,000,000.00 (one million American dollars) or more. Until this year, that amount was set at US $ 100,000.00 (one hundred thousand US dollars).

The quarterly DCBE (every three months), in turn, has not changed and it’s still mandatory to individuals and legal entities holding assets abroad that amount to US $ 100,000,000.00 (one hundred million American dollars) or more.

On the other hand, CMN Resolution no. 4,844 of July 30, 2020, changed the rules applicable to non-residents who hold deposit accounts (BRL) in Brazil. With the changes in force, the transactions of BRL 100,000.00 (one hundred thousand Reais) or more are subject to registration in the Central Bank Information System (“Sisbacen”) and supported by specific documentation. Until now, all transactions above BRL 10,000.00 (ten thousand Reais) were subject to registration.

The new Resolutions take effect on September 1, 2020. In practice, they will imply one less obligation for residents in Brazil who invest abroad in small proportions, in addition to simplifying financial transactions carried out by non-residents in Brazil.

We are available for any clarifications if needed.

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