The period for submission of the Annual Census of Foreign Capital in Brazil (“Annual Census”) for the base date of December 31, 2021, began on July 1, 2022 and ends at 6 pm on August 15, 2022.
Pursuant to Circular No. 3,795, published by Brazilian Central Bank (“BACEN”) on June 16, 2016, the 2021 Annual Census must be submitted by filling out the electronic form available on the BACEN’s website by:
(i) legal entities headquartered in Brazil with direct investments in their equity interest held by individuals or entities resident/headquartered abroad, regardless of the amount, provided that the legal entity has a net worth equal to or higher than US$ 100 million, as of December 31, 2021;
(ii) investment funds with non-resident stakeholders, with a net worth equal to or higher than US$ 100 million as of December 31, 2021, through its representatives; and
(iii) legal entities headquartered in Brazil with a total outstanding balance of short-term trade credits (due within 360 days) owed to non-residents equal to or higher than US$ 10 million (ten million U.S. Dollars) as of December 31, 2021.
Finally, we would like to inform that any legal entity failing to submit the 2021 Annual Census, or in case it provides uncomplete or incorrect information, may be subject to a fine up to BLR 250,000.00 (two hundred and fifty thousand reais).
Costa e Tavares Paes Advogados is available for further clarification about the Annual Census, as well as to provide any information on the topic and to assist with filling and sending.
This newsletter is meant for information purposes only and should not be construed as a legal opinion.