The deadline for the Declaration of the Census of Foreign Capital in the Country (“Census”) began on July 1 and closes on August 17 at 6 p.m.
The Census promoted by the Brazilian Central Bank (“BC”) has great relevance in determining the Brazilian foreign economic policy, and providing, at the same time, important data for research.
According to Law No. 4,131/1962 and BC’s Circular No. 3,795/2016, are required to submit the information relating to the Census the legal entities based in Brazil which had, on December 31, 2019:
Similarly, Investment Funds that had, as of December 31, 2019, an equity equal to or greater than the equivalent of US$ 100 million in Brazilian R$ and non-resident shareholders are also required to comply with the Census statement this year.
The information regarding the Census must be declared on the BC website itself www.bcb.gov.br.
After submitting the information to the BC, the declarant shall maintain the supporting documentation for a period of 5 years in order to resubmit it, if requested by the BC.
There is no requirement regarding the census statement for:
In case of the provision of false, incomplete, incorrect or out-of-time information, the regulations denote that the following infringements will apply:
An important change to note is that the next declaration of the 2021 Census [which has a base year 2020] will be mandatory for more companies that have investments coming from outside Brazil.
This is because the Census implementation regulations provide for the declaration of the so-called “five-year census” for the years ending in 0 or 5.
Unlike the one expected for this year, the 2021 declaration has a broader scope and will also include legal entities that have foreign investments in their share capital regardless of the invested amount.
Please contact us for more information or to issue your declaration!
Published on July 14, 2020