The period for submission of the Quarterly Information of Brazilian Capital Abroad (“Quarterly DCBE”) to the Brazilian Central Bank (“Bacen”) regarding to the base date of March 31st, 2024 starts on April 30th, 2024, and ends on June 5th, 2024.
The submission of the Quarterly DCBE is mandatory for individuals or legal entities resident, domiciled or headquartered in Brazil, possessing on March 31st, 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 interest, interest in investment funds, cash deposited in foreign financial institutions, bonds, real estate, commercial credits, etc.).
The fine for failing in submitting or for the provision of uncomplete or incorrect information ranges from 0.1% (one tenth percent) of the amount to be informed to BRL 250,000.00 (two hundred and fifty thousand Brazilian reais), which may be increased by 50% (fifty percent) in some cases according to the nature of the failure.
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.