Dear all.
What would be the consequences for non-residents in Brazil (those who have left permanently and have already notified the RFB of their departure) of not opening the CDE? Foreign exchange consequences, but especially with the IRS.

Thank you

Yeah, I'm wondering about that now because I've never been told anywhere that I should do that. I've even had several conversations with Itau about living outside Brazil and they've never said anything... now I want to know how I can resolve this and what the consequences are for having kept/continuing to keep a current account in Brazil.

I was surprised by this excerpt: "Furthermore, according to our examination, in fact, the crediting of benefits from the INSS or other public bodies is not provided for by the regulations (even when the payer is the government itself!). " I thought it was more common for Brazilian pensioners to live abroad and receive their pensions.

Hello Mr. Vinicius

In September/2021, the BCB released a new Rule on innovations in the foreign exchange market with new features for payment accounts for non-residents:
https://www.bcb.gov.br/estabilidadefinanceira/faq_inovacoes_cambio_normas
"Persons and companies not resident in the country may have prepaid payment accounts in reais to make payments and receipts in Brazil, limited to R$10,000 per transaction. These accounts will be held at institutions authorized to operate in foreign exchange."

In December 2021, the New Foreign Exchange Law 14.286/21 was also published, also with new features for non-resident current accounts:
http://www.planalto.gov.br/ccivil_03/_Ato2019-2022/2021/Lei/L14286.htm
"Paragraph 4. The Brazilian Real accounts held by non-residents referred to in item VIII of the main body of this article shall be treated in the same way as the Brazilian Real accounts held by residents, with the exception of the requirements and procedures that the Central Bank of Brazil may establish, including in relation to transactions carried out in the manner provided for in Article 6 of this Law."

Do you have any information about these changes and if this would really solve the problem of not being able to maintain an account in Brazil as a non-resident?

My daughter is currently living in Australia, she declared her permanent departure, about five years ago she became an Australian citizen, and she has an empty house in Angra that she wants to sell.
I am her and her husband's attorney (power of attorney issued by the Brazilian Embassy in Canberra).
If I sell the house (obviously I have to pay the real estate profit), can I receive the $ in my current account and then make a remittance to it in Australia?
Is there any BACEN legislation applicable to this situation?
Or does it need to have a CDE, so that the value of the sale is deposited in this account and, later on, the same account would be used to make the transfer abroad?

Good morning!
This article is very good, but I've been insisting to BACEN that until today it hasn't been possible for my sister and attorney in Rio to make the remittance through Caixa Econômica (my bank) and from there send it to the São Paulo bank. The latter now requires a CDE account, but not before. It's my salary account, retirement pay! I've always sent the last three payslips to show where the money came from. Caixa is on the list, but they don't accept CDEs, even though it's my bank and even though they're very polite (the new board and president). Other banks won't accept it even though they're on the list.
I think that paying R$1500.00 to the bank for the CDE, reals per month, for someone who already pays so many taxes at source (IR, INSS), is a kind of confiscation.
I need resources to get treatment. I've lived in the United States since 20003 and there have never been any problems. I suggested that BACEN exclude the accounts of public servants from this requirement. I have already sent several requests to all possible sectors. Still nothing.
Thank you!
Celita

Every source of information has been revoked except for the list of institutions authorized to operate in the foreign exchange market.

Excellent article, very enlightening.
Do you have any updates on the list of banks?

Dear expatriate friends, does anyone know of anyone who has been successful in opening a non-resident account with realistic rates for non-institutional investors?

ok, what if you've been living abroad for years but haven't changed your account? I moved to the US in 2013 and I don't remember hearing about it. In other words, I still use my Brazilian account as normal. But I haven't received any kind of income since I moved here. I don't have credit cards or anything. I only use it to transfer money from here to Brazil to buy a present for my mother or something. What should I do now? How do I resolve this?

Hello Vinicius! Congratulations on your articles, which are very well written and contain very important information. I would like to know your opinion now that Resolution No. 3,568 of May 29, 2008 has been modified by Resolution No. 4,844, increasing the amount to R$100,000.00 for SISBACEN notification. Do you think this will make life easier for non-residents? Will we have rates that are more in line with reality?

they're going to have to start changing that, with the "anywhere office" trend there are going to be a lot of people working in Brazil and living abroad. I myself work in Canada but live in Brazil, and I also work in Brazil kkk

I have the same question

Can the bank refuse to open a judicial account to receive alimony due to a lack of proof of address in the name of the person responsible?

Good afternoon, Dr. Vinicius
Please can you tell me if a non-resident account can be used to receive credit for the redemption of PGBL and VGBL pension plans? And will taxation be in accordance with Brazilian legislation (progressive or regressive)?
Thank you.

Good afternoon,
Excellent article.
If I manage to open this "CDE" account, when I transfer my account abroad to Brazil, will I pay any income tax in addition to the IOF?
And if my account is still the normal one, do I have to tell the bank?
Thank you

Good afternoon, Dr. Vinicius,
I'm a foreigner and I worked in Brazil for 6 years. I'm going back to my country and doing the DSDP.
I have an investment in a direct treasury. How can I keep it when my bank can cancel my bank account as a result of the DSDP?

Thank you very much for the clarification!

You could assist a client from India to open an offshore account or whatever is possible for him in any Brazilian bank. Eneias.

Good morning Mr. Vinicius
Congratulations on your explanations.
I have been tax resident abroad since January 2017, I have retirement income in Brazil, with INSS and Private Pension which are deposited in my normal checking account in a Brazilian Bank. I use these funds to pay expenses in Brazil, or even for investment. I declared my change of tax domicile to the pension institutions, and they started charging me 25% of IR at source, which was previously paid at source using the progressive table. I believe it's a 2015 law, and that it was under discussion at the Supreme Court, but nothing conclusive so far. Is there any news on the subject?
I work abroad as President of a small company, I have my monthly Pro Labore and once a year I receive dividends when it is distributed, since I have a 5% stake in the business. I declare and pay income tax abroad on this income. To transfer my funds to Brazil, I opened a CDE account with Santander, but the first time I sent a remittance, it was transferred directly from the company I work for. I'm trying to send it directly from a personal current account abroad to Santander.
Question: in these cases, how do I declare and pay IR abroad on my foreign income, as I transfer it to Brazil and only pay the IOF, am I exempt from IR?

Hello, Vinicius,
I've been living in Germany for seven years and I've already made my exit declaration. I'd like to open an account in Brazil because my father wants to send me a certain amount of money, and the way we found to pay less tax would be if I had an account in Brazil in my name and transferred the money to my account abroad. Is that possible? What is the best way to proceed in this case?
Thank you in advance for your attention and congratulations on the article!

Good afternoon Vinicius, congratulations on your work!
For those who make the Declaration of Final Departure from the Country (DSDP), is the opening of a current account for those domiciled abroad (CDE) or a current account for non-residents in a Brazilian financial institution only obligatory for those who wish to keep financial resources invested in Brazil in national currency?
Otherwise there is no such obligation?

Is there a bank in Brazil that allows you to have a joint CDE account?

Hello, excellent website with lots of interesting articles. I have a question: I declared my permanent departure, I have lived abroad for 9 years and recently transferred all my money to the country where I live. I made a "transfer of assets" exchange. As I understand it, I have to close the account and open a CDE, so that I can receive the rent for an apartment as well as pay small bills (IPTU). Should I do this immediately or can I keep the current account and wait until 2023 for the new rules?

Thank you

Hello,
I bought an apartment in Brazil and now I need to send the purchase price to the seller. I only have an account with nubank and the amount of the purchase is 540,000 reais and is above the amount that nubank authorizes. I've lived in Canada for over 30 years and have never worked in Brazil. So I haven't made a definitive exit declaration. I wanted to open an account to send this amount in dollars and then transfer it in TED to the seller.
What is the best way to send this amount? Would I have to send it in dollars directly to the buyer?

Thank you very much.

Dr. Vinícius, would it be possible to donate the amount in a CDE account to someone residing in Brazil? In that case, what would the donation tax be? I've heard that when the donor and recipient live in different states, the tax is determined according to the state where the donor resides. If the donor is domiciled abroad, how would this donation tax be determined and charged?

I'm a non-resident foreigner and Banco Rendimento was very good about opening a CDE. From 95reais a month.

Good afternoon, Joca! Which bank did you open this account with, please?

I have lived abroad for about 30 years, I have never declared any tax in Brazil, because I came abroad when I was not yet of age, currently in Belgium I have a tax address, citizenship and residence in Belgium, out of ignorance on my part I did not know about the existence or need for a CDE, I have a bank account in Brazil and I invest in the capital market through it, (indices and futures), because I have a mailing address there in Brazil, can I continue to operate? What are the implications? How should I file the taxes since they are supposed to be delivered and declared here?

Dear Vinicius,
Congratulations on your initiative to help people like those above.
My case is as follows:
I was transferred abroad 25 years ago and am now retired, living in the USA (citizen), having lived in several other places.
I have notified the INSS of my non-resident status and as a result I have a deduction at source of 25% from my pension (by law), as does my wife.
During this time, I never converted my Itaú and CEF accounts (I never knew I needed to) and continued with my investments at Itaú.
What is the recommended procedure to regularize this situation?

I need to know if the central bank is demanding an amount for me to pay in order to apply for a loan.

Good afternoon Dr. Vinícius!
I'm planning to move to Australia at the end of 2022. I noticed that CVM64 (May 2022) was a note from that commission, to allow banks to regularize their situations and that of their clients, regarding opening CDE in brokerages. But what about the central bank? Has it recognized this? And are the banks and brokers in Pratt already opening such CDE accounts?

Dear Dr. Tersi,

I declared my permanent departure several years ago, but my "normal" account is still active in Brazil.
Over the years I have made a number of direct transfers between banks (foreign and Brazilian).
Sometimes, when I was visiting Brazil, I would withdraw money from my foreign account (via ATMs) and deposit it in my Brazilian account.
Apart from those few times when I transferred/deposited some money, the Brazilian account earns monthly interest from savings and a fixed-income investment.

To date, I have never been questioned by the bank where I have the Brazilian account, nor by the central bank or the IRS.
Could this cause any problems? Should I change the account type ("normal" to CDE)?

Thanks for the site and the great information, and for your attention in answering readers' questions.

Sincerely,
Bia

Hello Dr.
An Argentine client purchased a property in Brazil using funds from the sale of a property she owned in Argentina.
He did the conversion through a bureau de change (the deed was presented to them), and paid for the property in cash, through a deposit in the sellers' account. She doesn't have an RNE, only a passport and a CPF, which was done to make the deed. We are unable to open an account for her here in Brazil. She would like to have an account because she intends to make another investment and it would be much more practical via bank transfer and also to make payments for the expenses of the property she has purchased (water, electricity, internet, IPTU etc.). What is the best way for her to make the next transactions, given the concern about having to declare IR? Does having an attorney help at all?

Hello, I left Brazil on 30/04/22 (I entered Europe on 01/05) and I have to stay abroad for at least 4 years (I can't guarantee it, but that's what my work contract says). I live in France. But I intend to visit Brazil occasionally.
I have an apartment in Brazil (it's not rented out and, for the moment, I have no plans to rent it out) and accounts at two banks (with investments in private pensions, CDBs and some investment funds).
Reading about the complications of having a Non-Resident Account, I'm giving up on making the permanent exit.
Naturally, I would continue to file my annual tax return in Brazil, indicating all the income I receive in France (and on which I pay withholding tax) - so as to justify the increase in my assets. Considering the Brazil-France double taxation agreement, I imagine that I would avoid paying "double" tax on my income. In the same way, I'm going to declare income tax here in France.
One concern I have: if I don't make it back to Brazil within 12 months, what would the implications be? My wish would be to return to Brazil at least once a year - but I can't guarantee it, hence my concern.
I've read a lot about the subject and tried to listen to other people's experiences. But it's a very personal decision and I confess I'm a little lost.
What would your advice be?
If I don't declare my departure now, can I declare it retroactively? Or would I declare from the last date of departure from Brazil (in case I return to Brazil on a trip)?
Thank you very much and congratulations on your content!

Good afternoon Dr. Vinicius,

I've been living abroad for 5 years and although I've left permanently, I haven't converted my account to CDE. I would like to know what the risks are of keeping the normal account. Thank you,

Congratulations on your articles and information. I am retired and have lived outside Brazil for 5 years. I recently obtained residency in the country where I live. This country has no agreement with Brazil (to receive abroad), I am going to proceed with the Declaration of Exit and open a CDE, but my question is, does the INSS accept that a person living abroad receives through a CDE?
Thank you very much

Sorry to be so honest, but an account that costs R$1000/m or R$300/m as in the case of Banco Rendimento, is impractical and even ridiculous for the vast majority of expatriate Brazilians and pushes us towards illegality.

A financial system that makes legality so difficult is an oppressive system.

Receita Federal and the Central Bank of Brazil together with the STF are our greatest national shame.

Congratulations on the content, excellent article!

I have a question. I've been a resident of Canada since 2014 and I filed my Final Exit Declaration in 2019 (retroactively for 2016/2015, noting that I became a non-resident in 2015). I recently obtained an opportunity to buy a plot of land in Brazil in installments. The down payment and first installment were paid by my mother (with money from her account), and for the first installment I made a transfer (from the Remitly website) to my mother's account who then paid the boleto.

I intend to open a CDE (probably with Santander) so that I can transfer directly to this account and: make the payment of the boletos, reimburse my mother.

Is there any problem with this procedure? If in the future I return to live in Brazil and have to declare income tax, would I have any problem declaring assets obtained in Brazil while I was not a tax resident in Brazil (and only declared income tax in Canada)?

Dr. Vinicius, I've just visited your site and I'm finding the articles very enlightening. Congratulations and thank you very much for sharing your knowledge.
My sister left Brazil in 2018 to work in Japan, and since then she has been declaring her personal income tax as normal because she was unable to open a non-resident current account, not least because of the expensive fees she would have to pay.
1) My mother is the attorney-in-fact and 2nd holder of a bank account that we hold jointly;
2) My sister receives rent from a property;
3) My sister wants to send money to Brazil to invest.
Given the whole scenario, would it be better for my sister to declare her permanent departure, notify the sources of payment, pay 15% on the rent, open a bank account as a non-resident and no longer worry about the obligation to file a tax return every year?
And since she left Brazil in 2018, can she declare her definitive departure now?

Franklin, could you tell us more about the experience of having a CDE account with Santander?
Do you have access to their Internet Banking? And when you're in Brazil, can you make purchases using a debit card? Can you make boleto payments, PIX transfers, and other common transactions from your online current account? What about investments? Do they offer the bank's own CBDs, private pensions, or any other options?

I've had a CDE account with Banco Rendimento for about a year with the basic package, which currently costs R$ 29 per month. I'll tell you a little about my experience:

* I can send money to the account via Wise or any other similar company at a lower cost than ordinary SWIFT transfers. And it's much faster via Wise.
* When I'm in Brazil, there is no debit card with which I can make any payments in the shops. I end up having to use my foreign credit card for this, even though I have money in my CDE account to cover my expenses. For someone who spends a month a year in Brazil, this is a major inconvenience. What's more, if I want to withdraw cash, the only option is to go in person to the bank's office in São Paulo during business hours.
* The bank only offers its own CDBs with very poor yields. There are much more attractive options on the market for those who are tax residents in Brazil and can choose the bank with which they have a relationship.
* To make investments and redemptions in these bad CDBs, I have to stay up late at night, because I live in a country with a 12-hour time difference and the bank's system doesn't allow me to schedule these operations. I understand that operations can only be carried out during Brazilian banking hours, but it's completely unreasonable that the bank doesn't even offer a scheduling option.
* When making payments via the mobile app (iOS), the app takes the date/time from the cell phone, which is set to the time zone of the country I'm in. When making payment transactions, for example, this causes all sorts of errors because the time differs from the current time in Brazil. It's a very amateurish implementation.
* If I want to speak to anyone at the bank, the service is only available during Brazilian business hours. There is no 24-hour call center like most other banks offer.
* There isn't even a savings account available with the CDE account, even though it is an investment exempt from income tax and would therefore have no regulatory obstacles due to its non-resident status.

In the end, the money I invest in the bank's bad CDBs yields below inflation. In other words, I only lose money on this account. In short, I'm not happy at all, but I'm forced to keep it for lack of choice.

Good morning, Dr. Tersi.
By the way, researching the NR or CDE accounts, in view of my activities related to the foreign trade area, being a Broker Agent of Providers for BG SBLC issuance, Customs Broker trained in international, customs and maritime law. memorials for proof of the origin of funds
First of all, I must commend your efficient work and valuable information content, which is easy to understand and very useful for guidance, congratulations!

Here are the reasons for my simple question, for which I am grateful for your attention As I am Brazilian, and reside in Brazil, ! Can I open a Non-Resident Account in another country (UK) and make online transfers to my Brazilian bank account?
what are the procedures to avoid violating foreign exchange legislation?

Dear Dr. Vincius,
Congratulations on your articles and thank you for your invaluable service.

I've been researching for some time and I can't find an adequate answer for my case. I left Brazil a long time ago and declared my permanent departure. Now I intend to move back, also permanently. Among other minor things, I intend to take the amounts I have accumulated in my current account abroad, as a result of savings and the sale of a house I used to own. The source of the funds was my earnings from work during my permanent residence abroad. I saw in one of your answers the comparison between "income and assets". Would my situation be a transfer of assets and therefore not subject to income tax?

Hello Dr. Vinicius! I want to thank you in advance for your goodwill and help!
I have a question! I've been living in Norway since 1990! I was very young (19 years old) when I left there and I didn't know that I had to declare permanent departure from Brazil, nor did I ever declare income tax there! I am a Norwegian citizen, I keep my Brazilian citizenship and I currently live in Portugal! When I went on vacation to Brazil in 2001, I bought my only property there while it was still under construction! But now I'm going to sell it! What will happen? Will the sale be registered with the IRS? Then I don't know what to do to be able to pay this tax on the sale in Brazil, without having lived there for so many years! I've also read on the websites of online remittance banks that it will be difficult or impossible to increase my limit to transfer this sum to my account in Portugal, without a declaration of income in Brazil! But none of my income is generated in Brazil, nor do I have a fiscal address there! What should I do?

Very good explanation!

Hi Vinícius, how are you? Congratulations on the articles, I follow several of them and there are always particularities that are clarified in the doubts of those who participate with each experience. With the Foreign Exchange Law coming into force in 2023, do you have any updates on this CDE point? Bank and account opening facilities, etc.? Thanks again for your attention. Cheers!

In addition to ITCD, donations to non-residents are subject to income tax. But this tax is only levied on the remittance abroad of the amount received as a donation, right? If the money stays in the CDE, there would be no income tax, right?

Hello Dr. Vinicius Tersi
I read your website and found it very interesting, even useful for Brazilians living abroad. Your information is very specific and up-to-date.
I'll make a note of your name and contact details so I can contact you when I need you.
Thank you very much.
Maria Maia

Sorry, unless it's specific to the CDE account, but when a donation is made in kind, the recipient is the one who pays the tax according to the state where they live, so regardless of where the money came from, the recipient pays tax, as long as it doesn't exceed (in Rio de Janeiro) 11,250 ufirs, which today in 2023 is a total of R$48.745.12.

Hi Bia, how are you?
Which country do you live in? I'm asking because I'm in a similar situation and from what I've been told, the countries communicate. I don't know to what extent this is true. If it is, the country you live in would know that your account is still open in Brazil and that would lead to double taxation. On the other hand, if you don't qualify for the mandatory income tax return in Brazil, then you would only declare the income of the country in which you live, plus your account in Brazil.
Is that basically it?
Thank you for sharing your experience.

Hello!
I've been living abroad for 5 years and did my DSDP after 1 year of living abroad. I'd like to send some money to Brazil to invest in the stock market through a broker. Is it possible to carry out this operation by opening a CDE account and sending funds from this CDE account to the broker? How would this remittance from abroad to the CDE account be taxed?

Thank you for such a useful and enlightening text on this obscure subject in our legislation, Vinicius! Please, based on your content, I would like to confirm the procedure I should follow: I made a permanent tax exit in 2018, and I will receive two amounts: i) one from a donation from a family member and ii) another from the sale of a property, both above R$ 200k. I've opened a CDE in Brazil to receive the amounts, and I want to invest in CDBs in this same CDE. I'm tax legal, right? Is there any tax to be paid by me when I receive the amounts? Can I send the investment income to my account abroad in the future? Thank you very much!

Hi Vinicius, your explanations on the tax and banking situation of expats are very enlightening and useful. Congratulations and thank you for your valuable social work.

Dear Dr. Vinícius,
Congratulations on an excellent article. Very clear and practical. You could update it in light of Law No. 14,286/2021 and BCB Resolution No. 277/2022.
I'm preparing a brief opinion on the subject and your article has helped me a lot. If you like, I can share it. Please let me know.
Cheers and success!
Daniel Gudiño

Good morning Vinicius, Great article! I've been looking for something clearer on the subject for a long time and only found vague articles.
In my case, I've been living abroad for almost 20 years, and I don't remember making any exit declarations at the time. In 2014, I lost my Brazilian nationality and acquired a European one. I'm married to a diplomat and I also have a diplomatic passport, changing countries every 4 years.
During the pandemic, I bought a property in Brazil as a foreigner, and I used a BB account to carry out the transaction in question, sending euros through Wise and everything within what the Central Bank asked for at the time.
My CPF has never been canceled and I have never declared IR in Brazil. My BB account is as if I still lived there, but the manager herself knows that I no longer reside there. I'm investing in Treasury Direct, but I'm always in doubt: Do I leave the situation as it is or open a non-resident account? I've never had any problems and I've already received life insurance money from both my father and my mother. My account is current and I have a credit card in Brazil, but I only use it when I'm there.
The person who wants to invest in Brazil within the four lines, but the lack of information is enormous. When you lose your nationality, the lack of information doubles.
Thank you in advance for any reply.

Hello, Vinicius. I hope you're well.
First of all, congratulations on the content, very informative. And if I may, I have a few questions about my current situation.

A bit of background, I left Brazil in February 2023 to work for a company in Bulgaria and I'll be making my Final Exit Declaration next year. Here, I'll also file my income tax return at the beginning of next year for what I received here that year.

My question is this: I intend to make monthly international transfers (amounts below R$10,000.00) to a current account I hold in Brazil, would I have any tax due on these transfers? And if so, would a CDE relieve me of the obligation to pay tax?

Thank you very much in advance.
Gilson

a foreign resident who receives a donation in brazil needs to open an account in brazil. How is taxation in Brazil and Germany?
Thank you very much

Dr. Tersi, please, I am a foreign tax resident in Brazil and living in Brazil, my father is a foreigner and resident in Italy with tax residence in Italy. He wants to donate a certain amount to me and I would like to know if it would be legally possible for me to leave Brazil permanently, establish my tax residence in Italy to receive the donation (because there is no tax from father to son or ITCMD), live there for a few months or a year and then return to live in Brazil and re-establish my tax residence in Brazil to be able to bring this amount to Brazil after having declared it in Italy. Would this be a legally correct 100% procedure or would I be committing an illicit act? I have no intention of doing anything illegal, I'm just looking for the best solution for me, thank you very much.

Hello,
Thank you very much for all the information. I have a very peculiar situation and I would like to see if you can help me.
I left Brazil with my husband in August 2023. We intend to stay abroad for 2 years (he has a temporary job), and we're not sure what will happen afterwards, whether we'll want to return or not. I haven't received any income abroad until then, only him. Questions:
1- From what I've read, my husband needs to report and declare his departure from Brazil, otherwise he could be taxed on the amounts acquired abroad, right?
2- I would very much like to keep my BB account, as I have savings and situations where I need to make small (very small) transactions. Could I NOT declare my withdrawal, and do my individual income tax return normally, while he will declare the withdrawal?
3- If I decide to do what I said in item 2, and perhaps only declare my departure the following year when I sort out my life, am I doing something illegal that could have consequences?
Additional information: we intend to visit Brazil within the next year; we got married last year and have never filed a joint income tax return.
Thank you very much in advance.