Brazilian capital abroad hit a record: US$ 740.3 billion at the end of 2025, twice the country's international reserves, according to Central Bank data published by Valor Econômico. The 13.1% increase in the year is the largest since 2014.
And the real figure is higher. The statistic only captures those who report to the Central Bank, an obligation that starts at US$ 1 million held abroad.
The trend has its reasons. Higher IOF, taxation of dividends and legal uncertainty make diversification central: keeping all assets in a single jurisdiction, a single currency and a single legal system has become more expensive. Commenting on the data to Valor Econômico, our partner Tiago Severo Gomes linked the growth to the new foreign-exchange framework and recalled the condition that matters: capital abroad must be declared, taxed and compliant with foreign-exchange and tax rules.
It is not just for billionaires. More and more Brazilians hold funds and holding companies abroad, and the number of filers with the Central Bank rose 11.5% in 2025. Diversifying makes sense for those who:
• are thinking about succession and want the structure to be organized from the outset;
• have sold a company or had a significant liquidity event;
• have assets concentrated in Brazil (a company, real estate, investments) and want to reduce exposure to country risk, etc.
In all these cases, the costly mistake is to set up the structure first and think about the rules later. PSNA does the opposite: we start with the foreign-exchange, tax and succession framework and only then design the structure. It is the same regulatory discipline with which we advise institutions supervised by the Central Bank, SUSEP and the CVM.
If you recognize yourself in any of these scenarios, we are available to talk.
Full article, by Hamilton Ferrari: https://lnkd.in/dPiZ46Q7
