São Paulo, July 2021.
Pursuant to Circular No. 3,795/2016, from July 1 to August 16, 2021, the Central Bank of Brazil (BACEN) will conduct the 2020 Five-Year Census on Foreign Capital in Brazil.
Any entity meeting any of the following requirements on the relevant base date (December 31, 2020) must file the Five-Year Statement:
- Legal entities domiciled in Brazil, with non-residents holding direct interest in the capital thereof, in any amount;
- Investment funds whose shares are held by non-residents; and
- Legal entities domiciled in Brazil, with total outstanding balance of short-term negotiable instruments (enforceable within 360 days), granted by non-residents, in amount equal to or in excess of one million dollars (USD 1,000,000.00), in December 31, 2020 (U$ 1.00 = R$ 5.1961).
It is important to mention the mandatory filing of said statement within the term set out in the aforementioned Circular Letter, whose information must be accurate. Any violation is subject to a fine of up to two hundred fifty thousand reais (BRL 250,000.00).
Please contact us should you need our assistance to take the applicable measures or if any further clarification is required.