Individuals and companies from Brazil with investments abroad shall file before the Brazilian Central Bank a statement of Brazilian Capital Abroad (“CBE Statement”) concerning the base date of December 31, 2013according to Resolution CMN # 3.854, dated as of May 27th, 2010 and Rule # 3.624, edited by the Brazilian Central Bank on February 06th, 2013.
Companies or individuals resident, domiciled or with headquarters in Brazil which have assets or values abroad totaling, on December 31th, 2013, an amount equal or higher than US$100,000.00 or its equivalent in other currencies, shall file before the Brazilian Central Bank the CBE Statement until* April 5th, 2014*, at 18:00 hours.
In addition to the CBE Statement on the data base of December 31th, 2013, individuals or companies resident, domiciled or with headquarters in Brazil which have assets or values inabroad totaling an amount equal or higher than US$100,000,000.00, or its equivalent in other currencies, shall also file the CBE Statement in the following periods:
(i) The quarterly statement regarding the data base of March 31th, 2013, in the period between April 30th, 2014 and 6pm of June 5 th, 2014;
(ii) The quarterly statement regarding the data base of June 30th, 2013, in the period between July 31th, 2014 and 6pm of September 5 th, 2014; and
(iii) A quarterly statement regarding the data base of September 30th, 2013, in the period between October 31th, 2014 and 6pm of December 5 th, 2014.
If the deadline mentioned above coincides with dates that the Brazilian Central Bank do not open or closes before 6pm, the term will be extended until the 6pm of the next work day.
The lack of filling the CBE Statement or filing it outside of period indicated, or containing inaccurate, incomplete or fraudulent information, subjects the party to a penalty that may reach up to R$250,000.00 or 10% of the amount subject to the statement, whichever is smaller.
The supporting documentation of the provided information shall be available to the BACEN for 5 years from the data base.
The Corporate Department of Azevedo Sette Advogados is at your disposal for any required clarification or assistance.