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 to the aforementioned Circular, by 6 pm on August 15, 2020 (“deadline”), companies must transmit the Census, having December 31, 2019 as the base date.

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.

Declarations from the Annual Census of Foreign Capital that show false, incomplete, incorrect information or lack of timely delivery will be subject to the penalties imposed by the rules that regulate the registration and census of foreign capital in the country.

WHO SHOULD PROVIDE THE DECLARATION ON ANNUAL CENSUS?

• Pessoas jurídicas sediadas no País, com participação direta de não residentes em seu capital social, em qualquer montante, e com patrimônio líquido igual ou superior ao equivalente a US$ 100 milhões (cem milhões de dólares dos Estados Unidos da América), em 31/12/2019;
  
• Fundos de investimento com cotistas não residentes e patrimônio líquido igual ou superior ao equivalente a US$ 100 milhões (cem milhões de dólares dos Estados Unidos da América), em 31/12/2019, por meio de seus administradores;
  
• Pessoas jurídicas sediadas no País, com saldo devedor total de créditos comerciais de curto prazo (exigíveis em até 360 dias) concedidos por não residentes igual ou superior ao equivalente a US$ 10 milhões (dez milhões de dólares dos Estados Unidos da América), em 31/12/2019.

DISMISSED TO PROVIDE THE DECLARATION FOR THE CENSUS:

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