Itaú offers custody representation services to investors without residence in Brazil and who intend to operate in the Brazilian market.
For INRs to trade and operate assets in Brazil, the assets in question must be registered, booked and/or kept in custody in a deposit account with an entity authorized to provide such services by the Central Bank of Brazil or the Brazilian Securities and Exchange Commission.
Responsibilities of the institution
The representative must be a financial institution duly authorized by the Central Bank of Brazil.
Responsible for tax-related matters before Brazilian authorities.
Responsible for keeping the documentation current and for custody over all of a foreign investor’s assets in Brazil.