Brazil (BR)

Jurisdiction Overview

206 *Is any formal registration required at all? NEITHER, BUT NO DOMESTIC: Domestic law trusts cannot be created, but no registration of domestically managed foreign law trusts.
 Data Date: 2018


Only foreign trusts that have investments in Brazil are required to register (but not all those with a local trustee). According to the Global Forum: "Trusts, other fiduciary arrangements, companies that issue bearer shares and any other entity formed abroad must always provide, through their Brazilian-domiciled, legally appointed attorney or legal representative, information on the administrators, beneficial owners, and other documents within 90 days of registration. The RFB [Federal Revenue of Brazil] advised that a trust would be required to provide its trustee(s), settlor(s), protector(s) and beneficiaries when annually filing the list of equity holders and administrators (Quadro de Sócios e Administradores – QSA), pursuant to Annex V and Article 19(IV) and Code 321-2 of Annex VI of NI 1.634/2016. The absence of a reference to trusts in the general definition of “beneficial owner” would not derogate from this obligation" (GF 2018: 48; [TJN-Note]). However, Normative Instruction 1863/2018 of Brazil's tax authority (Article 19) mentions that only foreign entities (including foreign trusts) that have investments in Brazil are required to register their beneficial owners (Article 19), but not all those with a local trustee.


GF 2018: 38, 48
GF 2013: 45-48
Normative Instruction 1863/2018, Art. 19.