Demand from Brazilians for global accounts and investments abroad has risen following presidential election milestones. Avenue recorded its highest number of account openings in 2026 on October 26. New registrations over the next two days were 60% above the annual average, while net inflows reached three to four times recent averages. After the first round of voting, account openings on October 5 were 130% above the platform’s average daily figure for the month, and net inflows were 8.2 times higher than on a typical day.

Global accounts, first used mainly for travel expenses and international purchases, now also give customers a way to hold foreign-currency reserves and invest in overseas stocks, funds and fixed-income securities. Carlos Ambrósio, an Avenue partner and head of asset management, says demand has broadened beyond large investors to include conservative customers seeking to protect their wealth and more aggressive investors looking for asset classes less available in Brazil.

Ambrósio says a key change in 2026 is how Brazilians allocate money internationally. Rather than making occasional transfers in response to sharp currency movements, customers are making more regular contributions, regardless of short-term changes in the dollar. He links the shift to greater awareness of the risks of concentrating wealth in reais and investments tied to the CDI benchmark.

Data from Brazil’s central bank show that 32,400 individuals and companies reported assets abroad in 2025, the highest total since 2020. The figure included 28,300 individuals, the largest number since 2019. Comparisons with earlier years require caution: since 2020, reporting has been mandatory for those with more than US$1 million in foreign assets, whereas the previous threshold was R$100,000.

Financial firms also report growth. Nomad says its customer base increased from about 500,000 at the end of 2022 to 3.8 million in 2025, while assets under custody surpassed R$8 billion. According to Bruno Guarnieri, the company’s chief revenue officer and a partner, most customers have monthly incomes of at least R$15,000 and seek to diversify their wealth and shield some funds from fluctuations in Brazil’s markets. He says interest in higher-risk investments has grown from a base that was initially more conservative.

The expansion reflects several factors, according to Samuel Barros, a director of continuing education and corporate solutions at Ibmec: the search for portfolio diversification, Brazil’s macroeconomic instability and lower barriers to international markets. Digital banks and brokerages have made it easier to transfer money abroad and invest in foreign assets, services once more closely associated with high-income clients using private banking and overseas accounts.

The way customers use these accounts varies. Revolut Brazil CEO Glauber Mota says about 60% of the foreign-currency funds on the platform are used for consumption and international payments, while the remaining 40% are held as reserves or invested. The company’s Brazilian customer base and the volume of foreign-currency funds each grew about 200% over the past 12 months.

At C6 Bank, travel spending remains the main use of its global account, although customers can also access foreign stocks, ETFs and fixed-income securities. From August 2024 to August 2026, the number of accounts rose 44% and the funds held in them increased 32%.

Other institutions report stronger investment activity. Bradesco says the dollar value held in its global accounts increased more than sevenfold over the past 12 months, while the number of accounts grew more than 15-fold. The bank says about 80% of customers who open an account at Bradesco Bank direct funds to some form of international investment, with growth led mainly by high-income clients.

Santander reported year-over-year increases of 123% in global account openings and 48% in the volume of investments held abroad by Brazilian clients. Maria Fernanda Barreto, head of its Select segment, says demand is concentrated among high-income customers seeking to diversify their assets and access international markets.

XP says the number of clients with international exposure has grown more than tenfold since 2022 and by over 150% in the past 24 months. The brokerage also reports more than two million foreign-exchange and investment transactions in recent months. Diego Correia, its head of international investments, says assets under management have increased more than fivefold since 2022, with the trend now reaching retail customers as well as high-income investors. XP recommends that all clients, including conservative investors, hold at least 15% of their financial assets directly abroad.

BTG Pactual’s US brokerage co-CEO Renato Moritz says clients are diversifying geographically and exploring sectors of the US economy that have little or no representation in Brazil. He also says gains among large US companies have drawn Brazilian investors’ attention to opportunities in other markets.

Inter says its Global Account had six million customers in the second quarter of 2026. In addition to travel expenses, customers use it to receive payments from abroad, move funds and invest. Its individual customer base grew 49% over the preceding 12 months. Nubank’s Conta Global Ultravioleta can also be used for overseas spending, dollar reserves, incoming payments and international transfers. Banco do Brasil likewise reports growing demand for international financial services linked to travel, overseas business and investment diversification, and says it is expanding its product range.

Bruno Peixoto, a partner at BPTax, says simpler tax rules have also supported the internationalization of Brazilian wealth. Law No. 14,754 of 2023 set a 15% tax rate on income from financial investments abroad, calculated in the annual income tax return. He says the rules made the taxation of these investments simpler and helped increase interest.

Global accounts should not be confused with dollar-denominated deposit accounts opened within Brazil. Funds held through platforms such as Nomad and banks’ global accounts are deposited abroad. Foreign-currency deposit accounts based in Brazil remain limited to specific cases set out in central bank regulations.

Sources: Folha Mercado.