The deadline for the submission of the Five-Year Census Statement on Foreign Capitals in Brazil (“Statement”) to the Brazilian Central Bank (BCB), pertaining to the reference date of December 31, 2020, begun in July 1st, 2021.
The submission of the Statement is mandatory for those that, on the reference date of December 31, 2020, are:
(i) Legal entities headquartered in Brazil, with direct foreign (non-resident) investment in their capital stock, regardless of the amount;
(ii) Investment funds with foreign (non-resident) shareholders, thereof represented by their managers; and
(iii) Legal entities headquartered in the country, with total debit balance of short-term commercial credits (payable in up to 360 days) granted by non-residents, in an amount equal to or higher than the equivalent to US$ 1 million (one million dollars).
Moreover, according to BCB regulation, individuals, agencies of the Direct Public Administration, legal entities owing foreign credit transfer, granted by institutions located in Brazil, and non-profit entities maintained by non-resident contributions, are exempt from submitting the Statement.
It is important to mention that BCB may impose a fine on those that fail to provide the required regulatory information, and/or for the submission of false, incomplete, or incorrect information, the late submission, of 1% (one percent) of the amount subject to registration, up to R$ 250,000.00 (two hundred and fifty thousand reais).
The deadline to deliver the Statement to BCB is 6 pm (Brazil time) on August 16, 2021.
Our team is at your disposal for further clarifications, as well as to provide assistance with
the procedures for fulfilling BCB regulatory obligations.