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Investing abroad from Brazil: outbound transfers, IOF and the Central Bank's Brazilian capital abroad (CBE) declaration

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Last verified: 2026-10-27 · Status: Changing

Brazilian residents, companies included, may invest abroad in any form used in international markets, through an authorized FX institution. The FX for sending a resident's own funds abroad bears IOF of 1.10 percent when made for investment and 3.5 percent otherwise. Residents holding US$1,000,000 or more abroad on 31 December must file the Central Bank's annual CBE declaration, and quarterly declarations apply from US$100,000,000.

USD figures use the Banco Central do Brasil PTAX selling rate of R$5.5007 per US dollar for 26 October 2026, the last rate published before verification. Conversions are for orientation only; the rate on the day of each FX contract will differ.

Key facts

Brazilian capital abroad requiring the annual CBE declaration1000000 USDResolução BCB nº 279 art. 10, as of 2026-10-27 · in force
Brazilian capital abroad requiring quarterly CBE declarations100000000 USDResolução BCB nº 279 art. 11, as of 2026-10-27 · in force
Annual CBE filing window15 February to 5 April Resolução BCB nº 279 art. 13, as of 2026-10-27 · in force
IOF on FX for residents' transfers abroad for investment1.10 %Decreto nº 6.306 art. 15-B XXI-A, as of 2026-10-27 · in force
IOF on FX for residents' transfers of own funds abroad, other purposes3.5 %Decreto nº 6.306 art. 15-B XXI, as of 2026-10-27 · in force
Prior approval to invest abroadNo Resolução BCB nº 279 art. 2, as of 2026-10-27 · in force
Banco Central do Brasil PTAX selling rate, reais per US dollar5.5007 BRLBanco Central do Brasil PTAX, as of 2026-10-26 · in force

The rule

1. Brazilian capital abroad means assets of any kind held outside Brazil by residents, including loans and commercial credit granted to non residents. It may be invested in any form regularly used in international markets, including derivatives on exchanges or over the counter, and must meet legal requirements and have economic rationale.Lei nº 14.286 art. 8 I; Resolução BCB nº 279, Res. 279 arts. 1, 2 and 3, 2022-12-31 official text · verified 2026-10-27
2. Transfers for Brazilian capital abroad must go through an institution authorized for FX; transfers for derivatives abroad must go through a bank authorized for FX. Supporting documents are kept for ten years.Resolução BCB nº 279, Arts. 3 sole paragraph and 6, 2022-12-31 official text · verified 2026-10-27
3. A contribution of shares across borders (paying in capital of a Brazilian company with shares of a foreign one, or the reverse) cannot create reciprocal shareholdings between the Brazilian and the foreign company.Resolução BCB nº 279, Art. 5, 2022-12-31 official text · verified 2026-10-27
4. Residents must file the annual CBE declaration when their capital abroad totals US$1,000,000 or more on 31 December, between 15 February and 5 April of the following year, and quarterly declarations when it totals US$100,000,000 or more on 31 March, 30 June or 30 September. The declarations cover stakes in foreign companies, fund units, debt securities, loans, deposits, commercial credit, real estate, virtual assets, derivatives and export revenue kept abroad.
Cost to do it: No Central Bank fee.
Example: US$1,000,000 is about R$5,500,700; US$100,000,000 about R$550,070,000. / Annual threshold US$1,000,000; quarterly threshold US$100,000,000.Resolução BCB nº 279, art. 7 as worded by Resolução BCB nº 492 of 14 August 2025, Arts. 7, 9, 10, 11, 13 and 14, 2022-12-31 official text · verified 2026-10-27
5. Quarterly filing windows: 30 April to 5 June (base 31 March), 31 July to 5 September (base 30 June) and 31 October to 5 December (base 30 September). Assets held jointly count at full value for the threshold, but each holder declares only its share.Resolução BCB nº 279, Arts. 12 sole paragraph and 14, 2022-12-31 official text · verified 2026-10-27
6. IOF on FX: transfers abroad of a resident's own funds bear 3.5 percent, or 1.10 percent when made for investment.
Example: Sending US$500,000 (R$2,750,350) to fund a foreign subsidiary: IOF of about R$30,254 at 1.10 percent. / US$5,500 at 1.10 percent, against US$17,500 at 3.5 percent.Decreto nº 6.306, art. 15-B as worded by Decreto nº 12.499 of 11 June 2025, Art. 15-B XXI and XXI-A, 2025-06-11 official text · verified 2026-10-27 · changed: Decreto nº 12.499 of 11 June 2025 created item XXI-A (1.10 percent for investment) and set item XXI at 3.5 percent; its validity rests on the STF injunction of 16 July 2025 in ADC 96.
7. Failing to provide required information on Brazilian capital abroad, or providing false, incomplete or late information, is an infraction that the Central Bank may punish.Medida Provisória nº 2.224 of 2001, art. 1 as worded by Lei nº 13.506 art. 59; Lei nº 14.286 art. 20, Lei 13.506 art. 59, 2017-11-13 official text · verified 2026-10-27
DeclarationThresholdBase dateWindow
AnnualUS$1,000,000 or more31 December15 February to 5 April
QuarterlyUS$100,000,000 or more31 March30 April to 5 June
QuarterlyUS$100,000,000 or more30 June31 July to 5 September
QuarterlyUS$100,000,000 or more30 September31 October to 5 December

CBE declarations (Resolução BCB nº 279 arts. 10 to 14).

Worked example

  • A Brazilian company sets up a subsidiary in Chile and sends US$1,500,000 (R$8,251,050) as capital. The FX is classified as investment abroad and bears IOF of 1.10 percent, US$16,500 (about R$90,762) (Decreto nº 6.306 art. 15-B XXI-A). At 31 December its capital abroad exceeds US$1,000,000, so it files the annual CBE declaration between 15 February and 5 April of the next year (Resolução BCB nº 279 arts. 10 and 13). Taxation of the subsidiary's profits in Brazil is a separate question under the foreign profits rules.

Step by step

  1. 1. Classify the FX purpose as investment abroad to get the 1.10 percent IOF where it applies (Decreto nº 6.306 art. 15-B XXI-A).
  2. 2. For derivatives abroad, use a bank authorized for FX (Resolução BCB nº 279 art. 6).
  3. 3. Total all assets abroad at 31 December, including deposits, loans to foreign affiliates and export revenue kept abroad (art. 7).
  4. 4. File the CBE annual declaration between 15 February and 5 April if US$1,000,000 or more (arts. 10 and 13); quarterly ones if US$100,000,000 or more (arts. 11 and 14).
  5. 5. Keep documents for ten years from each base date (art. 15).

Common traps

  • Forgetting export revenue kept abroad and receivables from foreign customers. They count as Brazilian capital abroad (Resolução BCB nº 279 art. 7 § 1 and art. 1 § 1).
  • Misclassifying the FX. The 1.10 percent rate applies only to transfers made for investment; other transfers of own funds bear 3.5 percent (Decreto nº 6.306 art. 15-B XXI and XXI-A).
  • Share swaps that create cross holdings. Reciprocal stakes between the Brazilian and foreign company are not allowed (art. 5).
  • Treating CBE as a tax filing. It is a Central Bank statistical declaration; tax reporting of assets and income abroad is separate.

Sources

Related pages

Related: Brazil country profile · live dashboard · central bank and release calendar · our posts on X · where Argentina is involved, see The Argentine Thread guide

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