Overview
Payments to Brazil in local currency (BRL) are subject to a number of compliance rules enforced by the Central Bank so it is vitally important to ensure all the correct documentation is in place.
Documentation should be provided at the same time you set up the payment with us and should be provided by email. If the relevant documentation is not provided in a timely manner this could result in your payment being held or rejected once it reaches Brazil.
With the correct documentation in place any future payments to the same recipient should flow through in a timely manner.
What documents do I need to provide?
Please see below for a list of limits and the associated documentation required.
Limits for which documentation is requested:
• BR - Transaction USD Limit 3000
• BR - Same Account Monthly USD Limit 6000
• BR - Same Document Monthly USD Limit 6000
• BR - Same Email Monthly USD Limit 6000
In addition to the above, there are other limits depending on the type of payment and amount:
• Money remittances: limited to 10.000 BRL per payment by the Bank of Brasil
• Payments between 10.000 BRL and 3000 USD: If they are for a service, we should be able to process them, as soon as there is an invoice and an agreement. We check this individually.
• Payments over 3.000 USD: A Cadastro is required unless they are for a service provided on an online platform. For both scenarios it has to be for a service.
Cadastro Requirements
There are two types of Cadastro; one for an individual (PF) and one for a legal entity / company (PJ)
| Cadastro | Documentation required |
|---|---|
| PF (natural person) |
• ID • CPF (the document not the number) • Proof of address with no more than 3 months old • IRPF Declaration • Invoice for the payment • Agreement for the payment which has to have the same amount or a bigger amount than the invoice • Place of birth • Telephone number with the international dialling code • Marital status and, if the person is married, the name of their partner |
| PJ (legal person/ organisation) |
• The operating agreement of the company • Balance sheets signed by the administrators & accountants • ID of every director AND/OR beneficial owner of the company • Proof of address with no more than 3 months old from every director AND/OR beneficial owner • CPF of every director AND/OR beneficial owner • CNPJ (the document not the number) of the company • IRPF declaration of every director AND/OR beneficial owner of the company • IRPF declaration of the company • Agreement between the payer and the beneficiary who is receiving the funds (checking that amounts can never be less than the invoices) • Invoices for the payments • Names of the beneficial owners AND/OR directors of the company • Emails of the beneficial owners AND/OR directors of the company • Place of birth of the administrators AND/OR directors of the company • Telephone number with the international characteristic of every director AND/OR beneficial owner • Marital status and, if the person is married, the name of the partner of every director AND/OR beneficial owner |
For every transaction the bank may request additional information that is not included in the lists provided here.
The bank will ask for a registration, and depending on the amount and the provider, one signature or two signatures are going to be asked; if we create a registration for a person/company to receive payments, in further payments with providing agreements & invoices, it should be fine, but, again, the bank may ask further info if needed.
Documentation for payment
- Nota fiscal / Invoice (payment has to be for the same value in BRL as shown on the invoice).
- Contract for Services between the payer and recipient
Note: The bank may ask for further documentation/information if considered necessary