The Brazilian Central Bank has begun receiving the Statement for the Annual Census of Foreign Capital in Brazil, reference date of December 31, 2017.
A corporate entity based in Brazil must file an information return if it meets any of the following conditions:
• nonresidents directly holding an equity interest in its share capital, in any amount, and, cumulatively, it has an net equity equal to or above one hundred million United States dollars (US$ 100,000,000.00);
• it has taken out short-term commercial loans (due within a maximum of three hundred and sixty (360) days) from nonresidents, the outstanding balances of which are ten million United States dollars (US$ 10,000,000.00) or more; and/or
• it is an investment fund with net equity equal to or above one hundred million United States dollars (US$ 100,000,000.00) and foreigners hold an equity interest in it.
The Statement shall be submitted before or by 6:00 p.m. on August 15, 2018.
Companies that fail to file the information return or do so after the deadline or that submit false, incomplete or incorrect information will be subject to a fine.
Azevedo Sette’s Corporate team would be pleased to answer any questions and provide any assistance you may need on preparing or filing the information return.