2020 Census of Foreign Capital in Brazil – fiscal year 201908/07/2020
Por: João Carlos Mendonça, Matheus Cestari Mota
The Central Bank of Brazil is performing the 2020 Census of Foreign Capital (“2020 Census”), with respect to fiscal year 2019, based on the terms of Circular No 3,795 of June 16, 2016, which consolidated the regulation for the declarations of the Census of Foreign Capital in Brazil.
The following entities are subject to the 2020 Census:
- legal entities headquartered in Brazil, with direct investment of non-residents in their capital stock, in any amount, and with net equity, in Brazilian currency, equal to or greater than US$100 million, as of December 31, 2019;
- investment funds with non-resident shareholders and net equity, in Brazilian currency, equal to or greater than US$100 million, as of December 31, 2019; and
- legal entities headquartered in Brazil, with total outstanding balance of short-term commercial credits (payable within 360 days) granted by non-residents, in an amount, in Brazilian currency, equal to or greater than the equivalent of US$10 million, as of December 31, 2019, regardless of foreign participation in their capital stock.
The deadline for submitting the 2020 Census is 6PM on August 17, 2020.
The non-presentation, the untimely presentation or the presentation with incomplete or false information of the Census to the Central Bank of Brazil may subject the legal entities and investment funds listed above to the penalties provided for in Resolution No. 4,104/2012 of the National Monetary Council and in Circular No, 3,857/2017 of the Central Bank of Brazil.