The Statement for 2014 Foreign Capital Census shall be filed by August 15th, 2014, before the Central Bank of Brazil. (Normative 3.602 and Normative Letter 3.603 of the Brazilian Central Bank).
The Annual Foreign Capital Census, established by Brazilian Central Bank, shall be filed by the following entities:I – entities established in Brazil with direct investment from non-residents in its corporate capital either as quota holder or as a shareholder, and net worth of at least the equivalent to US$100 million in December 31st, 2013; and
II – entities established in Brazil with short-term debts outside of Brazil, in the form of trade credits (up to 360 days), of at least the equivalent to US$10 million, on December 31, 2013.
Investment funds with non-resident shareholders must report the total applications of non-residents, listing the ones that have, individually, holding equal to or greater than 10% of asset fund, complied with the minimum amount of US$100 million, invested in Brazil until the base data.
Individuals in general and direct government administrative bodies are not obliged to file the Statement.
The statement shall be filed between July 1st and August, 15th, 2014, by 6pm, with base data on December 31st, 2013. This schedule will be kept for next years.
The documents related to the Census must be kept for five years (5), for possible check over.
The lack of filing the statement of foreign investment in the Brazilian companies within the term established or fraudulent information subjects the violator to a penalty of R$250,000.00 (two hundred fifty thousand Reais)
The Corporate Department of Azevedo Sette Advogados is at your disposal for any required clarification or assistance.