Dear customers,
We hereby inform you that the deadline for the five-year census of Brazilian companies and funds with foreign capital is open. Periodically, the Central Bank of Brazil (“BCB”) conducts a census of foreign capital in the country, in order to organize statistics on the foreign sector and thus determine Brazil’s international investment position, as well as to subsidize the formulation of economic policy and assist the activities of economic researchers and international organizations.
The census in question will have as reference the base date of December 31, 2020, and information related to: the corporate and operational structure of the Brazilian legal entity; economic and accounting information of the Brazilian legal entity; specifications regarding foreign partners and investors; and, information regarding liabilities to foreign creditors must be submitted to the BCB.
They are obligated to this declaration:
(i) Brazilian legal entities, with direct participation, in any amount, of non-residents;
(ii) investment funds with non-resident shareholders; and
(iii) Brazilian legal entities, debtor of short term commercial credits (payable within 360 days) to foreign entities, in an amount equal or superior to the equivalent to US$ 1 million.
The legal deadline for filing this declaration with the BCB is August 16, 2021.
The companies that fit into the hypotheses above that do not submit the declaration, or submit it after the legal deadline, or even submit false, incomplete, or incorrect information, will be subject to fines and sanctions to be stipulated by BCB.
Our team is at your disposal to clarify any doubts and advise you on how to comply with the above obligation.