BACEN’S ANNUAL CENSUS
Dear customers,
The Central Bank of Brazil (BACEN) conducts the Census of Foreign Capital in the Country with the objective of compiling statistics on the foreign sector, especially the International Investment Position, subsidizing the formulation of economic policies and assisting the activities of economic researchers and international organizations.
They must submit this year’s Census declaration:
I – Legal entities headquartered in the country, with direct participation of non-residents in their capital stock, in any amount, and with net worth equal to or greater than the equivalent to US$ 100 million on the base date of December 31, 2021;
II – Investment funds with non-resident quota holders and with net worth equal to or greater than the equivalent to US$ 100 million, on the base date of December 31, 2021, through their managers; and
III – Legal entities headquartered in the country, with a total outstanding balance of short-term commercial credits (payable in up to 360 days) granted by non-residents, in an amount equal to or exceeding the equivalent to US$10 million, on the base date of December 31, 2021.
The deadline for submitting this year’s Census statement to BACEN is August 18, 2022, at 6pm.
Failure to do so properly can have the following effects:
I – Registering or submitting a declaration in disagreement with the deadlines set forth in the respective rules: 1% of the amount subject to registration or declaration, limited to R$ 25,000.00;
II – Providing incorrect or incomplete information: 2% of the amount subject to registration or declaration, limited to R$50,000.00;
III – Failure to register, submit a statement or present supporting documentation of the information provided to BACEN: 5% of the amount subject to registration or statement, limited to R$125,000.00; or
IV – Providing false information in the registration/declaration: 10% of the amount subject to registration or declaration, limited to R$250,000.00.
We remain at your disposal to clarify any doubts and advise you in the necessary steps.