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Advisory on Money Transfers to Brazil

money transfer from / to brazil and other countries

And Advisory on Money Transfers from Brazil to Other Countries

Brazil has a history of extreme regulation of money entering or leaving the country. Although recent laws have been passed to reduce the red tape, everyday banks such as Bradesco, Itau, and Banco do Brasil are prepared to handle only the most basic transfers.

We can help you with money transfers to Brazil and money transfers from Brazil. We have assisted many clients with money transfer needs through first-rate currency exchange banks in Brazil.

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What is considered a basic transfer?

A basic transfer is, for instance, when you are buying a real estate in Brazil and paying the price directly into the seller’s bank account. Another example would be sending a small transfer to a relative in Brazil.

Issues such as lack of knowledge at the branch, disconnection between the local bank manager and the back-office, and a need for dozens of emails and phone calls to “find the transfer” may be needed, but these banks may still get the transfer done.

What is considered an advanced transfer?

Advanced transfers would mean anything that involves any level of “thinking” by the backoffice in Brazil. Examples of advanced transfers are:

  • transfering money originated in a probate
  • transfering money in installments over time
  • transferring money involving a donation
  • transferring money without well documented income

Will everyday banks in Brazil handle my advanced transfer?

Most probably not. Everyday banks in Brazil do not specialize in currency exchange. Because of that, such banks will handle only the most basic transactions. Their reasoning is that their margins are just too small to run any risks. The risks posed by a currency exchange come from fines that the Brazilian Central Bank will levy for transactions involving money laundering or other illegal activities. Banks in Brazil tend to be overzealous to avoid being fined during the frequent audits by the Central Bank.

How To Get Started

Attorney Consultation
info@oliveiralawyers.com

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What to do if I need an advanced transfer?

For advanced transfers, we recommend you use one of the currency exchange specializing banks in Brazil. You can do this by yourself if you have plenty of time to learn the ropes. Or, you can hire a professional service like ours to help you.

You can find an official list here of all the bank institutions authorized by the Brazilian Central bank to work with currency exchange in Brazil.

Note that there are different entities in this list such as “everyday banks” (e.g., Banco do Brasil), “currency exchange firms that are not banks” (e.g.: corretoras de câmbio), and “currency exchange banks” (e.g., bancos de câmbio).

We recommend that you try to work with a currency exchange bank since they specialize in currency exchange instead of handling it as one more service. We choose not to work with currency exchange firms that are not banks to reduce the financial risks associated with smaller entities that are not true banks. Banks face a higher scrutiny by the Brazilian Central bank so it is natural that banks present less risk to its clients.

How can I work with you?

To work with us, we recommend that you first schedule a consultation through this link. A consultation will cost you USD125, but this amount will be credited in full in case you decide to work with us. Even if you decide to follow a different route, clients say they have obtained key information during such consultations worth many times the cost paid.

How To Get Started

Attorney Consultation
info@oliveiralawyers.com

Zoom Consultation
Schedule it now