The Annual Census of Foreign Capital in Brazil, regulated by Circular No. 3,795/2016 by the Central Bank of Brazil (“BACEN”) is a statement that compiles information about Brazil’s foreign liabilities. The compiled data by BACEN allow it to elaborate statistics and economic policies, beyond researches in the consulted areas.
The Census 2018’ statement shall be delivered until August 15, 2018, up to 18:00, at: http://www.bcb.gov.br/pre/normativos/busca/downloadNormativo.asp?arquivo=/Lists/Normativos/Attachments/50213/Circ_3795_v1_O.pdf
The statement shall comprise information regarding to: (i) reporter’s corporate structure and specifications about the partners or the non-resident investors; (ii) reporter’s economic and accountable information; and (iii) information about liabilities with creditors that are non-resident in Brazil.
The Census’ statement shall be delivered by:
- Legal entities with head offices in Brazil, with non-resident direct stake on their corporate capital, at any amount, and with net worth equal to or higher than US$ 100 million on December 31 of the base year;
- The investment funds with non-resident quota holders and net worth equal to or higher than US$ 100 million on December 31 of the base year;
- The legal entities with head offices in Brazil, with the total outstanding balance with short-term commercial credits (payable in up to 360 days) granted by non-residents equal to or higher than the equivalent of US$ 10 million on December 31 of the base year.
In case of liabilities or other financial information that are not accounted for in US Dollars, they shall be converted to their equivalent in US Dollars as of December 31, 2017 of the base year. According to BACEN, the Real-Dollar quotation on 12/31/2017 was R$ 3.3079996 to US$ 1.00.
Failure to provide or to provide false, incomplete, inaccurate or expired information subject the offenders to a fine of up to 250,000.00 BRL, according to Article 60 of Circular No. 3,857/2017.
Corporate Team (firstname.lastname@example.org)