A new law that allows individuals and companies to open accounts in foreign currency in Brazil was sanctioned by President Jair Bolsonaro. The General Secretariat of the Presidency informed that the BC may authorize individuals to have accounts in dollars in Brazil, according to the G1 portal. The new law changes the ceiling on the amount of foreign currency allowed during international travel, from R$10,000 to US$10,000.
The sanction was published in the Official Gazette of the Union (DOU) this Thursday (30). The proposal passed the Senate on December 8th.
Currently, opening foreign currency accounts is only allowed to certain companies, such as exchange houses and credit card issuers.
According to the text, the Central Bank (BC) will regulate the rules for opening and moving accounts in foreign currency.
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The General Secretariat of the Presidency informed that the BC may authorize individuals to have accounts in dollars in Brazil, according to the G1 portal. The new law changes the ceiling on the amount allowed during international travel, from R$ 10 thousand to US$ 10 thousand.
Transactions in the foreign exchange market may be carried out freely, with no limit on value. National and foreign currency entering and leaving the country must be carried out exclusively through an institution authorized to operate in the market, which is responsible for identifying the customer, recipient and sender.
For the text’s rapporteur, Carlos Viana (PSD-MG), the proposal makes Brazilian companies that do business with other countries more competitive.
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