Statement must be submitted until August 15th, 2019, 6 p.m.
The Brazilian Central Bank (“BACEN”), through its Circular No. 3795 published on June 16, 2016, prescribes procedures and time limits for the provision of information through the Annual and Five-Year Period Census of Foreign Capitals in Brazil (“Statement”) and made mandatory the provision of information regarding foreign investments in Brazilian companies by entities and individuals resident abroad, in an annual basis.
Compliance with the obligations pursuant to the Annual Census is made by filling out a form available on BACEN’s website, and it must be submitted by electronic means until 6 p.m. of August 15th, 2019.
The Statement regarding to the Annual Census must be submitted by:
(i) legal entities headquartered in Brazil, with direct participation of non-residents in their stock capital, regardless of the amount, with a net worth equal to or higher than US$ 100 million, as of December 31, 2018;
(ii) investment funds with non-resident stakeholders, with a net worth equal to or higher than US$ 100 million as of December 31, 2018, by their managers; and
(iii) legal entities headquartered in Brazil, with a total outstanding balance of short-term (due within 360 days) trade credits granted by non-residents, equal to or higher than US$ 10 million, as of December 31, 2018.
Any legal entity failing to submit the Statement within the abovementioned time limit, or in case it provides uncomplete or incorrect information, may be subject to a fine up to BLR 250,000.00.
Costa e Tavares Paes Advogados is at your disposal to assist with any information on the subject and to advise on all aspects related to the Statement, its fulfillment and its filling process.