The deadline for submission of the Five-Year Census of Foreign Capitals in Brazil (“Five-Year Census”), referring to the base date of December 31, 2020, starts on July 1, 2021 and ends at 6 pm on August 16, 2021. The original term, August 15, 2021, will not be a business day.

Pursuant to Circular No. 3,795 published by Brazilian Central Bank (“BACEN”) on June 16, 2016, the 2020 Five-Year Census must be submitted by filling out an electronic form available on 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, as of December 31, 2020;

(ii) investment funds with non-resident stakeholders, as of December 31, 2020, 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$ 1 million (one million U.S. Dollars) as of December 31, 2020.

Finally, we would like to inform that any legal entity failing to submit the 2020 Five-Year 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 Five Year 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.

O Costa Tavares Paes Advogados nasceu em 2010 e conta com escritórios em São Paulo, Rio de Janeiro e Brasília. Saiba mais sobre a banca e nossos serviços.