General information
CMN Resolution 4373/2014, the former 2689/2000, allows non-resident investors to access financial market products and capital market in Brazil, through negotiation in the local stock exchange or organized OTC market. Non-resident investors are foreign investors who reside outside Brazil or Brazilians who have declared permanent exit from the country.
Assets traded by non-resident investors must be registered, kept in custody or maintained in a deposit account in a financial institution, or be properly maintained in systems of registration, settlement and custody, recognized by the Brazilian Central Bank or authorized by CVM.
Itaú offers legal and tax representation as well as custody services for non-resident investors interested in operating in the Brazilian market.
Recommended for:
- Individuals
- Corporations
- Financial institutions (e.g. banks, global custodians, brokerage firms)
Regional presence
We are Latin America specialists, with presence in Chile, Uruguay and Paraguay.
Asset diversification
We offer to our clients a wide array of investments and assets, including derivatives and stock loans.
Specialized team
We rely on teams with market expertise who are dedicated to Customer Services, Relationship Management and Operations, including corporate actions.
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In order to invest in Brazil, non-resident investors must hire an institution to act as:
Legal Representative
Among other attributions, we are responsible for presenting all registration information to Brazilian authorities. Investors must name a representative who will be responsible for fulfilling their obligations. This representative must be a financial institution properly authorized by the Brazilian Central Bank. |
Fiscal Representative
Responsible for fiscal issues toward Brazilian authorities.
Custodian
Responsible for keeping documents updated and for custody of all assets held by foreign investors in segregated accounts and for providing requested information at any time to authorities or investors themselves. |
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There are two account structures that are different in terms of requirements to open the account, contract structure, registry and values.
Omnibus Account
Used when the main holder of the omnibus account wishes to provide (temporary) clients access to the local market.
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Proprietary Account
Used when the main holder seeks to access the Brazilian market and carry out transactions based on a proprietary position. |
Controllership of offshore funds
Custody of local funds and portfolios
ADR
Euroclear
