Find out if you need to declare and how to do it!

It is currently in progress the deadline to submit to the Brazilian Central Bank (BACEN) the declaration regarding the 2022 Annual Census for Foreign Capitals in the country (base year 2021).

Finde below the essential information:

1. WHO NEEDS TO DECLARE?

The Annual Census refers to the base dates of years not ending in zero (0) or five (5) (e.g., base year 2021), and the declaration must be submitted by:

  1. the legal entities headquartered in the Country, with direct participation of non-residents in its capital stock, in any amount, and with net equity equal to or higher than the equivalent to US$ 100 million, on the base date of 12.31.2021;
  2. the investment funds with non-resident quota holders and net equity equal to or higher than the equivalent to US$ 100 million, as of 12.31.2021, through their administrators; and
  3. the legal entities headquartered in the Country, with a total outstanding balance of short-term commercial debts (payable in up to 360 days) granted by non-residents equal to or higher than the equivalent to US$ 10 million, on the base date of 12.31.2021.

2. WHEN TO SUBMIT THE DECLARATION?

The period for filing the Annual Census declarations started on July 1st, 2022 and will end at 6:00 pm on August 15th, 2022.

3. FORM AND ADDITIONAL INFORMATION

The Annual Census Statement form for Foreign Capital in Brazil, the Declarant’s Manual, and other information about the procedure are available on BACEN’s official website.

4. INFORMATION SAFEKEEPING

Those responsible must keep the supporting documentation of the information provided for five years, as of the base date of the respective declaration, to submit to BACEN, if may be requested.

5. PENALTIES

In case of delay, no submission, or submission of incorrect, false, or incomplete statements, the declaring legal entity will be subject to the application of penalties by BACEN, including fines of up to BRL 250,000.00.

Further information on the Annual Census declaration can be found in Circular No. 3,795/2016 and BCB Resolution No. 131/2021, both from BACEN.

The teams of Fraga, Bekierman e Cristiano Advogados are available to provide guidance and clarify any doubts on the matter.

Clique aqui para a versão em Português.