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US dollar accounts and dollar contracts: allowed only in listed cases

Argentina. For full detail on Argentina, go to The Argentine Thread.

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

Abroad, a local company can usually hold a US dollar account at a local bank and price local deals in dollars; in Brazil both are allowed only in cases listed by law and by the Banco Central. From 1 October 2026 the list of foreign currency account holders was widened to goods exporters, companies with foreign loans, Brazilian companies with a direct non resident shareholder, and their non resident lenders and shareholders, but those accounts may only move export, foreign loan or foreign direct investment money. A dollar price between two Brazilian residents outside the listed cases is void, while exporters may keep their export proceeds abroad.

USD figures use the Banco Central do Brasil PTAX selling rate of R$5.3346 per US dollar for 27 October 2026. Conversions are for orientation only.

Key facts

Foreign currency accounts in Brazil for resident companies	Only listed holders, widened from 1 October 2026 to exporters, foreign debtors and foreign owned companies Res. BCB 277 art. 70 as amended by Res. BCB 575, as of 2026-10-27 · in force
Wider foreign currency account rules in force	2026-10-01 dateRes. BCB 575 art. 4, as of 2026-10-27 · in force
Cash and cheques in the new foreign currency accounts	Prohibited Res. BCB 277 arts. 75-A and 75-B, as of 2026-10-27 · in force
Local contracts priced in foreign currency	Allowed only in the cases of art. 13; otherwise void Lei nº 14.286 art. 13, as of 2026-10-27 · in force
Export proceeds may be kept abroad	Yes Lei nº 11.371 art. 1 as worded by Lei nº 14.286 art. 26, as of 2026-10-27 · in force

The rule

1. The Banco Central regulates foreign currency accounts in Brazil, including the requirements to open and move them. Foreign currency deposit accounts may be held only by listed holders, among them travel agencies (tourism flows), embassies and international organizations, the postal operator, international card issuers, foreigners in Brazil temporarily and non resident Brazilians (credits only from abroad), public entities with designated foreign loans, energy project companies, insurers and reinsurers, non resident carriers, authorized FX institutions and oil and gas exploration and production companies. Resident individuals in general are not on the list.
Cost to do it: No fee is set by these rules; banks set account charges.
Example: A Brazilian resident individual cannot open a US dollar deposit account at a Brazilian bank under art. 70. / No statutory US dollar amount.Lei nº 14.286 of 29 December 2021, in force one year after publication; Resolução BCB nº 277 of 31 December 2022, Lei nº 14.286 art. 5 item IX and art. 29; Res. BCB 277 art. 70 items I to XI, 2022-12-31 official text · verified 2026-10-27

2. From 1 October 2026 the list also includes goods exporters; private resident companies that owe foreign credit; companies based in Brazil with direct non resident participation in their capital; and non resident legal entities that are foreign lenders to residents or direct shareholders of a Brazilian company. Transfers to and from these accounts, including conversion between foreign currencies, need no FX contract.
Cost to do it: No official fee; savings on FX spreads for flows that stay in foreign currency.
Example: A subsidiary of a US parent receives a capital injection worth R$5,334,600 in a US dollar account in Brazil and repays an intercompany loan from it, without converting to reais. / US$1,000,000 of capital stays in US dollars, avoiding two FX conversions.Resolução BCB nº 575 of 18 June 2026, amending Resolução BCB nº 277, Res. BCB 277 art. 70 items XII to XVI and sole paragraph; Res. BCB 575 art. 4, 2026-06-18 official text · verified 2026-10-27 · changed: Resolução BCB nº 575 of 18 June 2026 opened foreign currency accounts to exporters, foreign debtors, foreign owned companies and their non resident lenders and shareholders from 1 October 2026.

3. Exporters' accounts may only be credited with export revenue and other amounts from abroad. Accounts of foreign debtors, foreign owned companies and their non resident lenders and shareholders may only be credited and debited with foreign credit or foreign direct investment operations, and are also subject to the foreign capital rules. In both cases conversion to reais requires an FX contract, and cash deposits, cash withdrawals and cheques are prohibited.
Cost to do it: No fee is set; misuse breaches FX rules.
Example: A foreign owned company cannot pay local suppliers from its US dollar account; it must convert to reais through an FX contract. / No statutory US dollar amount.Resolução BCB nº 277 of 31 December 2022, arts. 75-A and 75-B added by Resolução BCB nº 575 of 18 June 2026, Arts. 75-A and 75-B, 2026-06-18 official text · verified 2026-10-27 · changed: Account use limits added by Resolução BCB nº 575, from 1 October 2026.

4. Foreign debtors and foreign owned companies (and their non resident counterparts) are eligible only if they have current foreign credit or foreign direct investment operations reported under Resolução BCB nº 278; resident holders must also confirm to the bank that their SCE-Crédito or SCE-IED declarations are up to date. Banks report each foreign currency account (IBAN, currency, opening and closing balance, credits and debits) to the Banco Central by the fifth day of the following month.
Cost to do it: Keeping foreign direct investment and loan registrations current.
Example: A foreign owned Ltda. with an outdated SCE-IED declaration must update it before the bank opens the account. / No statutory US dollar amount.Resolução BCB nº 278 of 31 December 2022, art. 3-A, and Resolução BCB nº 277, art. 80-A, both added by Resolução BCB nº 575 of 18 June 2026, Res. BCB 278 art. 3-A and sole paragraph; Res. BCB 277 art. 80-A and Annex X, 2026-06-18 official text · verified 2026-10-27

5. A foreign currency price for an obligation payable in Brazil is valid only in listed cases: foreign trade contracts and their financing and guarantees; obligations where the creditor or debtor is non resident (except leases of real estate in Brazil); leasing between residents funded from abroad; transfers of those obligations, even between residents; FX purchases and sales; indirect exports; contracts between exporters and infrastructure concessionaires; cases allowed by the National Monetary Council; and other cases in law. Any other foreign currency term is void.
Cost to do it: No fee; a void clause leaves the contract without a valid price term in foreign currency.
Example: A US dollar price for software support between two Brazilian companies is void; the same price charged to a US customer is valid (item II). / No statutory US dollar amount.Lei nº 14.286 of 29 December 2021, Art. 13 items I to IX and sole paragraph, 2021-12-29 official text · verified 2026-10-27

6. Residents may keep abroad the foreign currency received from exports of goods and services.
Cost to do it: No fee; proceeds kept abroad avoid FX conversion until needed.
Example: An exporter selling goods for the equivalent of R$1,066,920 can leave the proceeds in an account abroad instead of converting them. / US$200,000 of proceeds at the PTAX rate can stay in US dollars abroad.Lei nº 11.371 of 28 November 2006, art. 1 as worded by Lei nº 14.286 of 29 December 2021, Lei nº 11.371 art. 1; Lei nº 14.286 art. 26, 2021-12-29 official text · verified 2026-10-27

Holder	Since	Permitted flows
Goods exporter	1 October 2026	Export revenue and other amounts from abroad
Resident company with foreign credit	1 October 2026	Foreign credit operations only
Company with a direct non resident shareholder	1 October 2026	Foreign direct investment operations only
Non resident lender or direct shareholder	1 October 2026	Foreign credit or direct investment only
Oil and gas exploration and production company	Before 2026	Per Res. BCB 277
Insurer, reinsurer, reinsurance broker	Before 2026	Per Res. BCB 277
Foreigner in Brazil temporarily, non resident Brazilian	Before 2026	Credits from abroad only
Resident individual	Not listed	None

Who may hold a foreign currency deposit account in Brazil (Res. BCB 277 art. 70).

Worked example

A US group capitalizes its Brazilian Ltda. with US$1,000,000 and lends it a further US$500,000. Since 1 October 2026 the Ltda., as a company with a direct non resident shareholder and a foreign debtor, may hold a US dollar account in Brazil (Res. BCB 277 art. 70 items XIII and XIV), receive both amounts there without an FX contract (sole paragraph) and pay loan interest from it, provided the investment and the loan are declared in SCE-IED and SCE-Crédito (Res. BCB 278 art. 3-A). To pay salaries or suppliers it converts to reais under an FX contract (art. 75-B item II); converting US$100,000 at the 27 October 2026 PTAX rate of R$5.3346 gives R$533,460. Groups also active in Argentina will find its separate FX regime in The Argentine Thread guide.

Step by step

1. Check that the foreign direct investment and any foreign loan are declared and current in SCE-IED and SCE-Crédito.
2. Ask the bank to open the foreign currency account under the right art. 70 item and confirm the declarations in writing.
3. Route only eligible flows through it: export revenue, or foreign credit and investment flows.
4. Convert to reais through an FX contract for local payments; no cash or cheques.
5. Price contracts with Brazilian residents in reais unless a Lei nº 14.286 art. 13 case applies.

Common traps

The new accounts cannot be used as general US dollar operating accounts; flows are restricted by arts. 75-A and 75-B.
Eligibility depends on current foreign capital registrations; a lapsed SCE-IED declaration blocks the account (Res. BCB 278 art. 3-A).
A US dollar price between two Brazilian residents outside art. 13 is void, not merely unenforceable in part.
Leases of real estate in Brazil may not be priced in foreign currency even with a non resident party (Lei nº 14.286 art. 13 item II).

Sources

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