President Jair Bolsonaro sanctioned, without vetoes, the law that creates the New Legal Framework for Exchange. The text was published in the Official Gazette of the Union (DOU), in the edition this Thursday (30), as Law 14,286/2021, after being approved by the Federal Senate on December 8th. The rule facilitates the use of Brazilian currency in international transactions and makes room for Brazilian banks and financial institutions to invest abroad funds raised in Brazil or abroad.
Under the new law, financial institutions authorized to operate by the Central Bank (BC) will be able to use this money to allocate, invest, finance or lend in national territory or abroad. Requirements and limits of regulations issued by the National Monetary Council (CMN) and BC must be observed. According to the government, this will help finance importers of Brazilian products.
The new legislation also increases the limit of cash that each passenger can carry when leaving or entering Brazil. The value went from the current R$ 10 thousand to US$ 10 thousand (about R$ 50 thousand at the current exchange rate) or the equivalent in another currency.
The legal framework still releases small value negotiations between individuals, which had the limit reduced from US$ 1,000 to US$ 500. The justification is that the measure can boost the development of platforms peer-to-peer for foreign exchange trading, as seen in other countries.
The proposal also increases the cases in which the payment in foreign currency of obligations due in the national territory will be allowed. Payments for leasing contracts are now allowed (leasing) made between residents in Brazil if the funds are raised abroad.
Another case included is that of indirect export, which occurs when packaging producers, assemblers or input sellers provide these materials or services to the exporting company. Payments from external lines (with foreign money) of credit for the transactions of these entrepreneurs may be made in foreign currency.
In a statement, the Central Bank celebrated the sanction of the law, which now enters into force. The body assesses that the efficiency gains in the market brought by the new legislation positively impact the attraction of foreign capital, both for investment in the financial and capital market and for direct investment, including long-term investments and in infrastructure and infrastructure projects. concessions.
“In addition to greater international insertion, the Foreign Exchange Law contributes to greater international use of the real, facilitating the use of domestic currency in international financial operations, such as allowing the entry and remittance of payment orders in reais from accounts in reais of foreign institutions maintained in banks in the country”.
