The Treasurer’s Guide to Trade Finance

Brazil

Bank accounts

ƒ Resident companies can hold local currency
(BRL) bank accounts outside Brazil.

ƒ Foreign currency bank accounts can be
held by the following resident persons
or entities in Brazil: authorised foreign
exchange dealers, Brazilian citizens abroad,
the Brazilian Post Office Administration,
credit card companies, companies
involved in energy sector projects, tourist
agencies that are not permitted to deal in
foreign exchange, insurance companies,

re-insurance companies and re-insurance

brokers.

ƒ Non-resident companies can hold local

currency bank accounts in Brazil.

ƒ Foreign currency bank accounts can

be held by the following non-resident

persons or entities in Brazil: foreign

citizens travelling through Brazil,

international organisations, embassies,

foreign delegations, foreign transportation

companies and re-insurance companies.

Brazil imports exports

owners’ equity, and dividend remittances.

ƒ Individuals importing or exporting over the
equivalent of BRL 10,000 in cash or cheques
are required to notify customs
(www.receita.fazenda.gov.br).

ƒ Foreign direct investment into certain
economic activities is restricted and all

foreign direct investments must be registered

with the BCB.

ƒ Export proceeds have not been required

to be repatriated or surrendered since

March 2008.

ƒ Financial institutions may not lend to

non-residents.

Trade information

Key trading partners

Imports by origin

EU 20.5%

USA 15.1%

China 14.5%

Argentina 7.5%

South Korea 4.5%

Other 37.9%

Source: WTO, September 2012

Exports by destination

EU 20.7%

China 17.3%

USA 10.1%

Argentina 8.9%

Japan 3.7%

Other 39.3%

Principal exports

Transport equipment, iron ore, soybeans,
footwear, coffee and cars.

Documentation

Imports

ƒ Customs declaration, commercial invoice (with
complete description of goods to be imported),
bill of lading, packing list, pro-forma invoice
(for imports that require a licence), import

registration and, sometimes, a certificate of

origin. Importers must also register with the

SECEX (Secretariat of Foreign Trade) and be

listed in the Importer and Exporter Register.

Exports

ƒ Customs declaration, commercial invoice

(with complete description of goods to be

exported), bill of lading, packing list, export

registration, international shipment notification

and, sometimes, a certificate of origin.