Annual census of foreign capitals in Brazil

The Annual Census of Foreign Capitals in Brazil has started.  From July 1, 2020 through August 17, 2020 (6 p.m. local time), certain entities and concerns must submit information to the Central Bank of Brazil.

The entities and concerns that must comply are:

  1. Legal entities headquartered in Brazil with direct foreign equity interest in any amount and accounted net worth equal to or higher than the equivalent in Brazilian Reais of US$100 million as of December 31, 2019.
  2. Investment funds with non-resident shareholders and net worth equal to or higher than the equivalent in Brazilian Reais of US$100 million as of December 31, 2019.
  3. Legal entities headquartered in Brazil owing short-term external commercial credits (payable within 360 days) granted by non-residents in an amount equal to or higher than the equivalent in Brazilian Reais of US$10 million as of December 31, 2019.

Entities or concerns who fail to timely participate in the Census or who file false, incomplete, incorrect or outdated information may be subject to penalties of up to BRL250k.

The following entities and concerns need not participate in the Census: individuals, governmental bodies, legal entities that are debtors of on-lending foreign credits granted by institutions based in Brazil, not-for-profit entities maintained by non-resident contributions.

Farroco Abreu Guarnieri Zotelli will be pleased to provide you with any additional information and assist you with the Census.


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