Declaration to the Central Bank of Rights and Assets Held Outside Brazil – Base Date September 30, 2021

The period to declare to the Brazilian Central Bank (Bacen) rights and assets held abroad by legal entities and individuals resident, domiciled or with headquarters in Brazil (“CBE”) has commenced, referring to the base date of September 30, 2021, and must be declared by December 5, 2021, at 6 p.m.

All individuals and legal entities that are resident, domiciled or headquartered in Brazil and that hold, outside the Brazilian territory, assets of any nature in a total amount equal to or greater than USD 100,000,000.00 (one hundred million United States Dollars) on the base date September 30, 2021, must comply with this obligation. Failure to comply with this obligation in a timely manner may trigger the application of penalties by the Central Bank.

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