The Brazilian Central Bank (“BACEN”) by means of Circular No. 3,795/2016, laid down the rules for filing the Annual Foreign Capital Census relating to the base date of 31st December of the previous calendar year. Therefore, in 2018, the Annual Census declaration for the year ending 31st December 2017 must be filed by 15th August 2018 at 6:00 p.m.
The following entities are required to provide the Annual Census statement for the base year ending 31st December 2017: (i) Brazilian legal entities or investment funds, with direct equity holding by non-residents and net worth equal to or greater than the equivalent to USD100,000,000.00 (one hundred million United States dollars) on 31st December 2017; and (ii) Brazilian legal entities with a total balance of short-term commercial credits (payable in up to 360 days) granted by non-residents equal to or greater than the equivalent to USD10,000,000.00 (ten million United States dollars) on 31st December 2017.
Failure to report information required by the BACEN, as well as delivering false, incomplete, incorrect information or out of time and outside the conditions established in the legislation may trigger fines, which may vary from BRL25,000.00, in the event of delayed filing, to BRL250,000.00, in the event of providing false information, pursuant to Circular No. 3,857/2017 of BACEN.