Declaration to the Central Bank of Assets and Rights Held Abroad

We remind that April 5, 2022, at 6 p.m is the deadline to report the Brazilian Capital held Abroad (“CBE”) to the Brazilian Central Bank (Bacen), referring to the base date of December 31, 2021.

All individuals and legal entities that are resident, domiciled or headquartered in Brazil and that hold, outside the Brazilian territory, rights, credits and/or assets in a total amount equal to or greater than USD 1,000,000.00 (one million United States dollars) on the base date of December 31, 2021, must comply with this obligation. Failure to do so in a timely manner may  result in the application of penalties by the Central Bank.

Demarest’s Banking & Finance Law team is available to assist you with this obligation. For more information, please feel free to contact us.