The period for submission of the Quarterly Information of Brazilian Capital Abroad (“Quarterly DCBE”) to the Brazilian Central Bank (“Bacen”), regarding the base date of June 30th, 2024, started on July 31st, 2024, and ends at 6 p.m. on September 5th, 2024.
The submission of the Quarterly DCBE is mandatory for individuals or legal entities resident, domiciled, or headquartered in Brazil, possessing on June 30th, 2024, assets located abroad and/or amounts deposited abroad of any nature in an amount equal to or greater than US$ 100,000,000.00 (one hundred million U.S. dollars), or its equivalent in other currencies, including equity interests, quotas of investment funds, cash deposited in foreign financial institutions, bonds, real estate, commercial credits, etc.
The fines for failing to declare or in other cases provided by law, range from BRL 2,500.00 to BRL 250,000.00. These fines may be increased by 50% in cases where the individual or entity fails to submit, correct, or complete the registration or declaration when requested by the Brazilian Central Bank.
Our team is available for additional clarification about the Quarterly DCBE, as well as any questions regarding filling out or other aspects involving the maintenance of assets abroad.
This newsletter is not a legal opinion.