On June 18, 2026, the Central Bank of Brazil published BCB Resolution No. 575, another important step in the implementation of Brazil’s new Foreign Exchange Framework (Law No. 14,286/2021). This rule updates the existing regulation (BCB Resolutions Nos. 277 and 278, both enacted in 2022) to broaden who may maintain deposit accounts in foreign currency in Brazil and how those accounts may be operated.
The resolution will enter into force on October 1, 2026, as of which banks and other institutions authorized to operate in the foreign exchange market must be prepared to comply with the new rules.
What is the purpose of Resolution 575?
Resolution 575 does not create the possibility of foreign-currency accounts from scratch; rather, it refines and expands the framework already being developed by the Central Bank under Law No. 14,286/2021. The Central Bank’s stated objective, widely highlighted by the business press, is to reduce costs, simplify flows, and make international operations more efficient for companies with significant exposure to foreign markets.
In practical terms, this is another stage in the consolidation of Brazil’s new foreign exchange framework, which entrusted the Central Bank with the authority to regulate who may hold foreign-currency accounts in the country, the requirements for opening them, and the rules governing their operation.
Who may hold a foreign-currency account in Brazil?
The central point of Resolution 575 is the expansion of the list of legal entities that may hold foreign-currency deposit accounts in financial institutions in Brazil. In addition to the categories already covered by Resolution 277, the following may now also qualify, among others:
- Legal entities engaged in the export of goods.
- Brazilian private-law legal entities that are debtors under external credit arrangements (for example, companies that have taken out loans or issued securities abroad).
- Companies established in Brazil, with legal personality, that have direct ownership by non-residents in their share capital (foreign direct investment).
- Non-resident legal entities that are creditors under external credit arrangements vis-à-vis residents in Brazil.
- Non-resident legal entities with direct ownership interests in Brazilian companies.
Some analyses also note the inclusion of companies holding rights to explore and produce oil and natural gas, reinforcing the focus on sectors with strong ties to international markets.
What may these accounts do, and what may they not do?
Resolution 575 not only defines who may hold foreign-currency accounts, but also how those accounts may be used. Among the most relevant points are the following:
- Exporters’ accounts must be linked to proceeds from the export of goods and to funds received from abroad; the conversion of those amounts into Brazilian reais remains subject to the execution of a foreign exchange transaction.
- For accounts associated with external credit or foreign direct investment, credits and debits must arise exclusively from those transactions, in accordance with the rules applicable to foreign capital (Resolution 278).
- The rule prohibits cash withdrawals, cash deposits, and the issuance of checks in these accounts, reinforcing their nature as a financial management tool tied to international operations, rather than a means of everyday payment.
From an operational standpoint, the resolution also regulates reporting obligations to the Central Bank, requiring financial institutions to provide, through the foreign exchange reporting system, information on account holders, balances, and transactions by the 5th day of the month following the reporting period.
Waiver of foreign exchange transactions in certain transfers
A notable innovation introduced by Resolution 575 is the waiver of the requirement to execute a foreign exchange transaction for certain transfers of foreign currency funds to and from foreign-currency deposit accounts in Brazil. This waiver may also apply in cases involving conversion between different foreign currencies, which should help simplify flows and reduce costs for companies holding cash in multiple currencies.
It is important to note that this waiver applies to transfers between foreign-currency accounts and within the regulatory scope designed by the Central Bank; conversion between foreign currency and reais, or vice versa, remains generally subject to a foreign exchange transaction under the applicable rules.
What has not changed for individuals
One point that deserves special emphasis, particularly given the expectations generated in public debate, is that Resolution 575 is directed at legal entities and does not, at this stage, grant a broad authorization for individuals resident in Brazil to maintain foreign-currency accounts with domestic banks.
The Central Bank’s own communications, as well as press coverage on the subject, make clear that the change does not alter the prohibition on using foreign currencies such as the U.S. dollar and the euro for everyday payments within Brazilian territory; such payments must still, as a rule, be settled in reais, except for the limited exceptions already provided by law.
In other words, for individual consumers, there is still no practical novelty comparable to the possibility of opening a “dollar account in a Brazilian bank for general use.” Law No. 14,286/2021 opened the door for the Central Bank to authorize such a product in the future, but Resolution 575, specifically, does not take that step.
It depends on the banks: implementation from October 1
Although Resolution 575 will formally enter into force on October 1, 2026, the actual availability of foreign-currency accounts for the newly eligible categories of legal entities will depend on each financial institution’s capacity and strategy.
Until then, banks will have time to adapt their systems, compliance procedures, contractual templates, and reporting mechanisms to the Central Bank, including integration with the foreign exchange reporting system and updates to internal controls.
In practical terms, this means that even after October 1 there will be a transition period: some institutions may offer the product quickly, while others may choose to test it initially with selected clients or may opt not to implement it at all, depending on their risk appetite, client base, and expected profitability.
Why companies should pay attention
For exporters, external credit debtors, and companies with foreign capital participation, the ability to maintain foreign-currency accounts in Brazil may represent an important shift in cash management and foreign exchange hedging strategy.
Foreign-currency balances held in domestic institutions, together with the waiver of certain foreign exchange transactions for transfers between accounts, may reduce costs, simplify operational routines, and improve alignment between revenues, expenses, and debt service in foreign currency.
At the same time, greater flexibility brings new reporting obligations and closer regulatory scrutiny over international flows, requiring robust financial and legal governance, especially in companies with complex corporate structures or multiple external credit facilities.
Stay alert to the next steps
BCB Resolution No. 575 should be understood as one more piece in an ongoing process, not as the final stage of Brazil’s foreign exchange modernization. Law No. 14,286/2021 gave the Central Bank broad authority to regulate foreign-currency accounts in Brazil, and the trend is that, as the regulatory and macroeconomic environment allows, new stages will be implemented, eventually with a greater impact on individuals.
For companies and investors, the message is clear: it is worth closely monitoring the Central Bank’s rules, communications, and FAQs, as well as the concrete solutions that each bank will begin offering as of October 2026.
For individuals, it is important to filter the news carefully and avoid premature conclusions: this is still not a “general liberalization” of dollar accounts for the public at large, but rather a technically relevant adjustment for the corporate segment with international operations.