Brazilian Central Bank modifies limits for the declaration of assets located outside of the national territory and of movements in accounts of physical or legal persons residing, or based domiciled or headquartered abroad

On 30 July 2020, the Central Bank issued Resolution CMN nº 4.841 and Resolution CMN nº 4.844. The first includes provisions on the obligation of physical or legal persons residing or domiciled in the country to give information to the Central Bank on their assets and rights held outside the national territory. Such obligation applies when the value of such assets equals one million US dollars. The latter contains provisions on the foreign exchange market regarding the compulsory provision of information on movements in Brazilian Reais in deposit accounts of physical or legal persons residing, domiciled or headquartered abroad. This obligation applies to movements with a value equal or superior to R$ 100.000,00.

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