How Non-Resident Accounts are attracting companies and revolutionizing the payment market in Brazil

The interest of foreign companies in doing business in the country has taken on new contours with the recent regulation of Non-Resident Accounts (CNR) by the Central Bank of Brazil. The new regulation is transforming the investment and financial transaction landscape by providing greater agility, reduced operating costs and financial efficiency for international companies to operate in the local market without the need to establish a company or appoint Brazilian representatives.

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Brazil is highlighted in the business plan of global companies because it stands out as the largest economy in Latin America, representing 42% of e-commerce revenue in the region, according to the Latin American Digital Transformation Report. In addition, Brazilians are increasingly used to crossing borders when shopping and, in 2023, 7 out of 10 consumers made cross-border purchases online.

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The trend is for sales to continue to rise. In 2024, the country achieved the highest global growth in the e-commerce sector, with an increase of 16% in online sales. The data does not go unnoticed by international companies and there is a growing interest in carrying out operations here. For this reason, Ouribank, a reference in foreign exchange and financial services, has seen an increase in demand from foreign companies. “Several payment providers around the world have sought out the bank to structure operations for receiving and executing cross-border payments through the digital platforms offered,” says Bruno Foresti, Director of Ouribank.

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He explains that CNRs allow foreign companies to carry out operations such as payments to suppliers, receipts for exports, and investments in financial assets directly in the Brazilian banking system. This flexibility reduces bureaucracy and operating costs, making Brazil a more attractive destination for foreign capital. “The easy integration via API or access via internet banking allows companies that close with Ouribank to be able to make payments in real time, 24 hours a day, seven days a week. We have an integrated system that allows this agility, without deduction in payments and guaranteeing the rules with Brazilian regulations,” says the executive.

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Also read: Non-Resident Account (CNR): how does it work and what are the advantages for international companies?

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The users of this type of account are usually companies providing services or selling products based outside the country. There are also payment companies that use the format to simplify the financial flow between individuals who carry out operations such as maintaining residents and transactions for accounts of the same ownership.

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How CNRs will change the market

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For experts, the adoption of CNRs could significantly increase the volume of foreign investments in Brazil in the coming years. The expectation is that, with greater ease of access and lower entry cost, the country will become an even more relevant hub for international business, especially in sectors such as agribusiness, technology and infrastructure.

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The modernization of exchange rules and the introduction of CNRs represent an important step in integrating Brazil into global financial flows, promoting a more dynamic and competitive business environment. The Non-Resident Account allows non-bank financial institutions based abroad, subject to PLD and Financial supervision, to operate directly through an account domiciled in Brazil, including managing liquidity between flows with counterparties in Brazil and abroad in reais, this brings greater efficiency from the point of view of execution agility, liquidity management and tax.

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According to Bruno, in recent years, Ouribank has been technologically prepared to meet demand and has helped companies carry out thousands of transactions a day. “Our differential lies in combining expertise in international B2B payments, the strength of a bank with more than 40 years of experience and a unique digital platform that allows access to local payment infrastructure,” he says. He points out that the bank is capable of carrying out cross-border transactions with exchange functions 24 hours a day, seven days a week, in addition to contracting an exchange hedging to provide predictability of values and 100% management via API.

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The executive explains that foreign companies have access to a kind of international PIX when they join the Ouribank structure. “When accessing an account in reais connected to the Pix infrastructure, the same payment confirmation protocols are followed, that is, international transactions are confirmed in milliseconds,” he says.

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Precisely to talk about the bank's work and understand trends in the payment sector, such as real-time transactions, stablecoins and new solutions for cross-border transfers, Ouribank will be present at the Amsterdam edition, in the Netherlands, of Money20/20. The event, which takes place in June, will bring together hundreds of payment companies and will help define the next steps in the sector. “We are still connected with what is most current in the market,” says the director.

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In addition, he reinforces that the bank is keeping an eye on the Central Bank's new regulations and innovation agendas regarding the evolution of the Pix, foreign exchange market, digital real, blockchain and bank as a service. “We will continue our close dialogue with the regulator, actively participating in the ecosystem and attentive to trends to bring increasingly innovative products to the market that make the exchange rate fluid and improve the customer experience,” he concludes.

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