As of today, the period to submit the Annual Statement of the Census of Foreign Capitals in Brazil (“Census”) to the Brazilian Central Bank (“BCB”) for the reference date of December 31, 2022 begins.
The Census statement is mandatory for legal entities and investment funds in Brazil that, on the base date of December 31, 2022, (i) had a direct participation of a non-resident investor or shareholder in their capital stock, in any amount; and (ii) had a net worth equal to or greater than the equivalent of US$100 million (one hundred million dollars).
It is worth mentioning that, with the repeal of Law No. 4131/1962 and its regulatory framework, legal entities headquartered in the country that exclusively hold debit balances in short-term commercial credits (payable within 360 days) granted by non-residents are no longer required to submit the Census statement.
In addition, the disclosure of information on foreign capital for loans, securities, trade credits, among other modalities, previously required in the Census declaration, will now be submitted in the new SCE-Crédito system (former RDE-ROF), according to specific rules.
It is important to mention that failure to provide the Census statement or the submission of false, incomplete, incorrect information, or after the deadlines and conditions set out in the regulations in force, will subject those responsible to a fine of up to R$250,000.00 (two hundred and fifty thousand reais).
The submission deadline for the Census statement to the BCB ends on August 15, 2023, at 6:00 p.m.
Our team is available for further information, as well as to assist you with the procedures necessary to comply with BCB’s regulatory obligations.
Gustavo Flausino Coelho – email@example.com
Matheus Chagas Lamarca – firstname.lastname@example.org