REMINDER – Registration of Quarterly Financial Statement to the Central Bank – Base Date March 31, 2022

As informed by the Client Alert published on May 16, 2022, Brazilian entities receiving foreign direct investment (FDI) of any amount and whose net equity and/or total assets amount to BRL 250,000,000.00 (two hundred and fifty million Brazilian reais) or greater, must update information concerning their corporate structure and financial statements (base date of March 31, 2022) to the Central Bank of Brazil (BACEN) by June 30, 2022.

Such update is part of a set of obligations applicable to entities that receive foreign direct investment and that must be complied with before the Central Bank. Failure to carry out the registration within the established deadline can result in the application of penalties by the Central Bank.

Demarest’s Banking & Finance team is available to assist in complying with such obligations and providing more information on the matter.