Brazilian capital abroad hit a record: US$ 740.3 billion at the end of 2025, double the country's international reserves, according to Central Bank data published by Valor Econômico. The 13.1% increase over 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 begins at US$ 1 million held abroad.
The movement makes sense. A higher IOF, taxation of dividends and legal uncertainty place diversification at the center: keeping all of one's wealth in a single jurisdiction, a single currency and a single legal system has become more expensive. In commenting on the data to Valor Econômico, our Partner Tiago Severo Gomes tied the growth to the new foreign exchange framework and recalled the condition that matters: capital abroad must be declared, taxed and compatible with foreign exchange and tax rules.
It is not only for billionaires. More and more Brazilians hold assets and holding companies abroad, and the number of filers reporting to 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 wealth concentrated in Brazil (a business, real estate, investments) and want to reduce their exposure to country risk, among other reasons.
In all of these cases, the costly mistake is to build the structure first and think about the rules afterward. PSNA takes the opposite path: 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://valor.globo.com/brasil/noticia/2026/09/29/capital-brasileiro-no-exterior-ja-e-o-dobro-das-reservas-do-pais.ghtml
