Individuals and legal entities must report investments on an annual or quarterly basis, depending on the value of the asset abroad. Check other deadlines that may apply to you.
Who is required to report?
Statement of Foreign Capitals Abroad (Declaração de Capitais Brasileiros no Exterior) (DCBE) is mandatory for individuals and legal entities residing, domiciled or headquartered in the Country, and holding assets abroad equal to or exceeding:
• US$ 100.000,00, or equivalent sum in other currencies as of 31.Dec. of each base-year – Annual CBE.
• US$ 100.000.000,00, or equivalent sum in other currencies as of 31.Mar, 30.Sep and 31.Dec. of each base-year – Quarterly CBE.
What is the deadline?
• For annual statements referring to the base-date of 31.Dec of each year: 5.Apr. 2019;
• For quarterly statements referring to base-date 31.Mar: from 30.Apr. through 5.Jun, 2019;
• For quarterly statements referring to base-date 30.Jun: from 31. Jul through 5.Sep, 2019;
• For quarterly statements referring to base-date 30.Sep: from 31.Oct. through 5.Dec, 2019.
Are there Fines?
Fines for failure to submit, or submission of false, inaccurate, incomplete or untimely information range from R$ 2.500,00 to R$ 250.000,00 and may be increased by 50% in some instances.
Azevedo Sette Advogados corporate and taxation teams are ready to review your case and assist you with additional steps on the matter, including necessary registrations and updates with BACEN.