According to the Circular No. 3.624 published on February 06, 2013 by the Brazilian Central Bank (“Bacen”), we hereby inform that the submission of the Annual Information of Brazilian Capital Abroad (Declaração Anual de Capitais Brasileiros no Exterior – “Annual DCBE”) regarding to the base date of December 31, 2020 starts on February 15, 2021, ending on April 5, 2021 at 6 p.m..
The submission of the Annual DCBE is mandatory for any individual or entity which is resident, domiciled or headquartered in Brazil possessing on December 31, 2020 assets located and/or amounts deposited abroad of any nature, in the minimum amount of US$ 1,000,000.00 (one million American dollars) or its equivalent in other currencies.
The failure in submitting the Annual DCBE, or the provision of uncomplete or incorrect information, may result in a fine up to BLR 250,000.00 (two hundred and fifty thousand reais).
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 Annual DCBE, including the fulfillment and the filling process.
This newsletter is meant for information purposes only and should not be construed as a legal opinion.