Check below a translation of the new law of the Brazilian exchange market
Entered into force on 12/29/22, Law 14,286/2021 provides for the Brazilian exchange market, Brazilian capital abroad, foreign capital in the country and the provision of information to the Central Bank of Brazil. The law establishes a new exchange rate framework for Brazil, modernizing the current legislation, which has been in place since 1935.
Among the main emissions, we have:
provision for individuals to carry out foreign currency purchase or sale transactions in cash in the amount of up to US$ 500.00 (five hundred dollars) or its equivalent in other currencies, on an occasional and non-professional basis;
a change in the maximum amount allowed during international travel, from R$10,000.00 (ten thousand reais) to US$10,000.00 (ten thousand dollars) or its equivalent in other currencies;
the flexibility for buying and selling foreign currency with agents other than just banks and brokerages, observing the guidelines of the National Monetary Council (“CMN”), and the regulations to be edited by BACEN;
possibility of opening and operating a foreign currency account in Brazil, provided that the requirements and procedures to be regulated by BACEN are observed;
expansion of the list of possibilities in which the stipulation of payment in foreign currency of enforceable obligations in the national territory is allowed.
Check below a translation of the new law of the Brazilian exchange market.
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