In accordance with provisions of its Circular n. 3,795 of June 16th, 2016, Brazilian Central Bank (“BCB”) performs the Annual Census of Foreign Capitals in Brazil (“Censo 2020”).
The statements required by Censo 2020 shall have 2019 as base-year, and must be delivered to BCB through electronic platform available on the official institution website (click here), no later than 18 pm on August 15th, 2020, as defined by the aforementioned Circular.
The submission of statements is mandatory for:
(i) companies with head offices in Brazil, with direct participation of non-residents in their capital stock, and with net worth equal to or higher than the equivalent of one hundred million U.S. dollars (USD100,000,000) on December 31th, 2019;
(ii) investment funds with non-resident shareholders and net worth equal to or higher than the equivalent of one hundred million U.S. dollars (USD100,000,000) on December 31th, 2019; and
(iii) companies with head offices in Brazil, with a total outstanding balance of short-term credit (payable within three hundred and sixty days) granted by non-residents equal or higher to the equivalent of ten million U.S. dollars (USD10,000,000) on December 31th, 2019.
The failure to provide or providing false, incomplete, inaccurate or out of date information, will subject the responsible parties to a fine up to two hundred fifty thousand Reais (BRL250,000).
BCB released the Declarant’s Guide on its website (click here), remaining the corporate team of De Luca, Derenusson, Schuttoff & Advogados available to advise you in this matter.