The deadline for submitting the Annual Information of Brazilian Capital Abroad (Declaração Anual de Capitais Brasileiros no Exterior – “Annual DCBE”) to the Brazilian Central Bank (“Bacen”) regarding to the base date of December 31, 2021 started on February 15, 2022 and ends on April 5, 2022 at 6 pm.
The Annual DCBE is mandatory for individuals or legal entities resident, domiciled or headquartered in Brazil, who hold abroad on December 31, 2021 an amount equal to or greater than US$ 1,000,000.00 (one million American dollars), or its equivalent in other currencies, in assets and amounts (rights, financial instruments, cash in foreign currencies, deposits, real estate, interests in companies, shares, bonds, commercial credits etc.).
The fine for non-submission or the provision of uncomplete or incorrect information ranges from BRL 2,500.00 (two thousand five hundred Brazilian reais to BRL 250,000.00 (two hundred and fifty thousand Brazilian reais) and may be increased by 50% (fifty per cent) in some cases according to the nature of the failure.
Our team is available for additional clarification about the Annual 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.