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 31st, 2012, according to Rule # 3624, edited by the Brazilian Central Bank on February 6th, 2013 and Rule # 3.854, edited by the Brazilian Monetary Council on May 27th, 2010.
Companies or individuals resident, domiciled or with headquarters in Brazil which have assets or values abroad totaling, on December 31st, 2012, 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, 2013, at 6:00 pm.
In addition to the CBE Statement on the data base of December 31st, 2012, individuals or companies resident, domiciled or with headquarters in Brazil which have assets or values inabroad totaling, on March 31st, 2012, June 30th, 2012 and September 30th, 2012, 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 31st, 2012, in the period between April 30th, 2013 and 6:00 pm of June 5th, 2013;
- (ii) The quarterly statement regarding the data base of June 30th, 2012, in the period between July 31st, 2013 and 6:00 pm of September 5th, 2013; and
- (iii) A quarterly statement regarding the data base of September 30th, 2012, in the period between October 31st, 2013 and 6:00 pm of December 5th, 2013.
The investment funds, by means of its administrators, shall also inform the total of its applications, discriminating the type and characteristics.
In 2013, the CBE Statement presented a few changes if compared to the year of 2012, requiring more information from the individuals and the companies, which are obligated to declare. Among the changes, stands out: (i) the commercial credit assets shall be declared when the term between the financial resources and the delivery of the item or the service be a minimum of 30 (thirty) days, not 180 (one hundred and eighty) days as last year; (ii) the presentation of the nominal balance will be sufficient in terms of financial leasing or loan operations; and (iii) there will be more demands related to the company’s market-value.
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.