The Central Bank of Brazil (BACEN) will perform from July 1st to August 15th the Census of Foreign Capital in Brazil, in order to assist in the establishment of governmental economic foreign exchange policies.
1. Mandatory Statement in Census 2014
The obligatoriness of annually submitting the statement on foreign capital in Brazil was established through the Ordinance no. 3.602, issued by BACEN on June 25th, 2012. In accordance with the Ordinance, are required to submit the statement those legal entities which, in December 31st, 2013:
I – had equity equal to or exceeding US$100 million and, simultaneously, direct participation, in any amount, of non-residents in their social capital; and/or
II – had outstanding balance exceeding US$10 million in short-term trade credits (payable within 360 days) granted by non-residents, regardless of foreign participation in their capital.
2. Deadline to Declare
The term to submit the declaration is July 1st to August 15th, 2014.
3. Penalties
The delay or failure to declare, as well as the declaration with inaccurate, incomplete or false information, may subject the declaring legal entity to penalties. The lawyers of Fraga, Bekierman & Cristiano Advogados make themselves available to assist with the submission of the statement