Anbima has published the Non-Resident Investors Guide for Investing in the Brazilian Financial and Capital Markets, designed to help investors domiciled abroad understand the rules and distinctive features of accessing Brazil’s financial and capital markets.

The publication reflects the modernization of Brazil’s foreign-exchange and foreign-investment framework and explains the main regulatory, operational and tax considerations international investors should assess when investing in the country.

Market access and investor safeguards

The guide provides practical guidance on local service providers, registration and know-your-customer requirements, including a matrix showing when investors need a local representative or registration with the Securities and Exchange Commission of Brazil (CVM). It also covers simplified onboarding arrangements available in certain cases when investors access the Brazilian market through eligible foreign intermediaries.

Beyond market-entry requirements, the publication highlights features of Brazil’s market infrastructure and investor protection framework. These include best-execution rules for brokers, segregated custody of investors’ securities, central counterparty risk-management mechanisms and rules designed to safeguard market integrity.

Investments and tax framework

The guide also offers an overview of the principal investments available to non-residents — from equities and debt securities to investment funds, derivatives, financial assets and federal government bonds — addressing their main characteristics, risks and tax treatment.

Together, these sections provide investors with a practical roadmap for navigating a market whose regulatory framework is largely aligned with international standards while retaining features specific to Brazil.