Skip Ribbon Commands
Skip to main content
Sign In
Navigate Up

Censo anual de capitais estrangeiros no Brasil

Por :
Elapsed=00:00:00.1025105

6/26/2014 9:00 PM Demarest News

Annual census of foreign capital in Brazil
 
As of July 1, the term for the presentation to the Brazilian Central Bank of the Census of Foreign Capital Invested in Brazil has initiated. Until 2011 the Foreign Capital Census was carried out every five years, but in 2012 it began to be carried out annually (Circular Letter 3602 of June 25, 2012).
 
Submitting the census report is compulsory for those corporate entities domiciled in Brazil which, on December 31 of the previous year:
 
      (1) held foreign equity participation in its capital stock, and simultaneously had shareholders' equity equal to or higher than one hundred million American dollars (US$ 100,000,000.00); and/or
 
      (2) had an outstanding balance of short-term trade debts (enforceable in up to 360 days) equal to or higher than ten million American dollars (US$ 10,000,000.00).
Investment funds must state, through their managers, their total investments and how much of the fund's net asset value is composed of foreign capital. Any non-residents whose individual interest is equal to or higher than 10% of the fund's net asset value must be identified individually, with due regard for the minimum amount of one hundred million American dollars (US$ 100,000,000.00) invested in Brazil.
 
Also in accordance with Circular Letter 3602/12, the following are exempted from submitting the report: (1) individuals; (2) government bodies; (3) corporate entities having outstanding debt arising from foreign onlendings carried out by financial institutions headquartered in Brazil; and (4) non-for-profit entities funded by non-residents.
 
Circular Letter 3603 of June 27, 2013 sets forth that the period for submission of the annual data begins on July 1 and ends at 6:00 PM on August 15 of the year following the reference period. Therefore, for the reference date of December 31, 2014, the submission period begins on July 1, 2015 and ends on August 17, 2015.
 
The failure to provide the information required by the Central Bank, the provision of false, incomplete, or incorrect information, or reports submitted outside the periods and conditions provided for in the laws in force are considered violations and are subject to fines. The criteria for applying said fines are set forth in Resolution 4104/12 of the Brazilian Monetary Council, as stated below:
 
   a) Late submission of the foreign capital census report: Fine of R$ 25,000.00, or 1% of the amount subject to reporting, whichever is lower;
 
   b) Incorrect or incomplete data in the census report: fine of R$ 50,000.00, or 2% of the incorrect amount, whichever is lower;
 
   c) Failure to submit the census report: fine of R$ 125,000.00, or 5% of the amount subject to reporting, whichever is lower;
 
   d) Provision of false information to the Central Bank: fine of R$ 250,000.00, or 10% of the amount that should have been reported, whichever is lower.
 
Pursuant to the rules, the Central Bank must treat the data received as confidential.
 
For more detailed information regarding the format and criteria for the report and the Manual do Declarante do Censo de Capitais Estrangeiros no País (manual for filling out the census report), go to the website of the Brazilian Central Bank, at www.bcb.gov.br.
 
We are available to provide any additional information and to help you fill out and submit the report.
 
Demarest Advogados
 
​Alessandra Garcia Pereira agarcia@demarest.com.br ​+55 11 3356-1773
​Elizabeth Larsen eclarsen@demarest.com.br ​+55 11 3356-1739
 

Related Publications

Sign up to receive newsletter

Skip Navigation Linkscenso-anual-de-capitais-estrangeiros-no-brasil