The Central Bank of Brazil (“BACEN”), by circular No. 3.795 of June 16th, 2018 (“Circular”), adjusted the procedures and deadlines regarding the mandatory declaration of annual census of Foreign Capital in Brazil (“CCEP”).

According with the Circular the companies shall transmit the census until 6 p.m. of August 15th, 2019 (“Deadline”), using as base date the period of December 31st, 2018.

All the information declared on the census are compiled by BACEN and disclosed in a consolidated manner, with statistical purposes of the sectors/activities of the companies, maintaining the confidentiality of investors/creditors and investees/debtors. The BACEN may require the declarants, within a period of five years from the date of the declaration, to provide the supporting documentation of the information provided.

The census declarations, in which evidencing false, incomplete, incorrect information or lack to apply in the proper deadline will be subject to the penalties imposed by the rules that regulate the registrations and the census of foreign capital in the Country.

WHO SHOULD PROVIDE THE DECLARATION ON ANNUAL CENSUS?

1. Legal entities based in the country, with direct participation of non-residents in their share capital, any amount, and with net equity equal to or greater than the equivalent to USD 100 million (one hundred million dollars) on December 31st, 2018;
2. Investment funds with non-resident shareholders and net equity equal to or greater than the equivalent to USD 100 million (one hundred million dollars) on December 31st, 2018, through its officers;
3. Legal entities based in the country, with total outstanding balance of short-term commercial credits (payable up to 360 days) granted by non-residents equal to or greater than the equivalent to USD 10 million (ten million dollars) on December 31st, 2018.

DISMISSED TO PROVIDE THE DECLARATION FOR THE CENSUS:

1. Natural persons;
2. Management bodies of the Union, States, Federal District and Municipalities;
3. Legal entities debtors of external credits granted by institutions based in the Country;
4. Non-profit entities held by contributions from non-residents.