Banking

Moving Money into Brazil

You can also move large sums of money into Brazil—for example, to purchase a property—without having a local bank account. To do so you’ll simply need to enlist the services of professionals versed in providing these services.

Note that the Brazilian government imposes a foreign-exchange transactions tax (IOF) of 0.38%, in addition to any fees charged by your bank.

You’ll sometimes hear that moving money out of Brazil is difficult or impossible, but that isn’t actually true. You just need to complete some government forms and pay the necessary taxes and fees. Outbound transfers can be handled from a number of institutions. If you do have a local bank account, talk to your branch manager.