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NEWS

Foreign Capital in Brazil and Brazilian Capital Abroad Census

Up to March 31, 2018 the legal entities headquartered in Brazil, which have direct participation of foreign investors as shareholders, and whose assets or net equity is less than R$250 million as of December 31, 2017, shall update the information related to its shareholders before the Central Bank of Brazil. Such declaration is made electronically on the following website: www.bcb.gov.br.

The legal entities that fail to fulfill this obligation will be subject to administrative penalties imposed by the Central Bank of Brazil. In the case of legal entities headquartered in Brazil, which have direct participation of foreign investors as shareholders, and whose assets or net equity is equal to or in excess of R$250 million in the corresponding quarter, the updating must be made quarterly, according to the following calendar:

(i) First Quarter: the update referring to December 31, 2017 must be delivered until March 31, 2018;
(ii) Second Quarter: the update referring to March 31, 2018 must be delivered until June 30, 2018;
(iii) Third Quarter: the update referring to June 30, 2018 must be delivered until September 30, 2018; and
(iv) Fourth Quarter: the update referring to September 30, 2018 must be delivered until December 31, 18.

Since February 15, 2018 the submission of the annual statement of Brazilian investment abroad relative to the year of 2017 may be done. Such statements must be delivered until April 5, 2018 by owners of assets abroad in excess of US$ 100,000.00 as of December 31, 2017.