How to Open a Non-Resident Bank Account in Brazil (CND)

Introduction

As of January 1, 2025, a new regulation — Joint Resolution No. 13/2024, issued by the Central Bank of Brazil (BACEN) and the Brazilian Securities and Exchange Commission (CVM) — has modernized access to the non-resident bank account in Brazil, officially called CND (Conta de Não Residente).

This reform is great news for expatriates, international investors, and foreign companies who wish to open a bank account in Brazil as non-residents.

What is a CND in Brazil?

The CND is a bank account in Brazilian reais (BRL) available to individuals or companies without tax residency in Brazil.

With the new rules, a CND now allows you to:

• receive and transfer funds in BRL,

• invest directly in financial assets and securities,

• operate in the local currency without unnecessary foreign exchange bureaucracy,

• manage your wealth and investments in Brazil with fewer legal obstacles.

👉 In other words, the CND is Brazil’s equivalent of a “non-resident bank account”, familiar in other international financial hubs.

What Changed with Joint Resolution No. 13/2024?

Before 2025, opening a bank account as a non-resident in Brazil involved heavy bureaucracy: mandatory legal representatives, electronic registration (RDE-Portfolio), and foreign exchange operations for nearly every transaction.

The new rules simplify this framework:

• ✅ Less mandatory currency exchange — lower costs, faster transactions.

• ✅ No legal representative required in some cases (for individuals using their own funds).

• ✅ Direct investments possible through a CND.

• ✅ Legal stability — no need to liquidate investments if you change your tax residency.

• ✅ 10-year record-keeping obligations for greater transparency.

Who Can Open a CND?

• Individuals: Brazilian expatriates and foreign citizens living abroad.

• Companies: foreign businesses wanting to invest or manage assets in Brazil.

👉 Key conditions:

1. Use of own resources (personal or corporate funds).

2. Monthly transfers of up to BRL 2 million per financial intermediary qualify for certain exemptions.

Benefits of a CND for Non-Residents

• 🔹 Direct access to the Brazilian banking and investment system.

• 🔹 Simplified account opening for expatriates and foreign companies.

• 🔹 Reduced banking and administrative costs.

• 🔹 Diversification in Brazilian reais, with attractive local interest rates.

• 🔹 Possibility of tax optimization depending on your country’s double taxation treaties with Brazil.

Points of Attention

Even with simplification, there are still rules to follow:

• Compliance requirements (KYC, AML, counter-terrorism financing).

• Limits to exemptions depending on your profile and transaction size.

• Tax obligations in your home country — especially on income and capital gains earned in Brazil.

Why Open a CND Now?

Brazil remains one of the largest emerging markets with a dynamic financial system. With the new CND, non-residents can:

• invest more easily in Brazilian assets,

• secure funds in local currency,

• and plan an eventual tax exit from Brazil with greater legal certainty.

Author of the Article

This article was written by Iure Pontes Vieira, a Brazilian lawyer, fluent in French and English, specialized in non-resident investment structures.

If you are a foreigner, expatriate, or international investor, you can contact him for a tailored legal consultation on:

• opening your non-resident bank account (CND) in Brazil,

• structuring your investments,

• and ensuring international tax compliance.

Conclusion

The Brazilian Non-Resident Bank Account (CND) is now a powerful, simplified, and secure tool for expatriates and foreign investors in 2025.

👉 If you are looking for a Brazilian lawyer experienced in assisting foreigners with banking and tax matters, reach out to Iure Pontes Vieira at iurevieira@pontesvieira.com.br