The term for submission to the Central Bank of Brazil of the declaration of the Quinquennial Census of Foreign Capital, referring to the base year 2020, begins on July 1, 2021 and ends on August 16, 2021.
The following persons are required to provide the declaration to the Central Bank of Brazil:
• Legal entities headquartered in the Brazil, with direct participation of non-residents in their capital stock, in any amount, on December 31, 2020;
• Investment funds with non-resident quotaholders, on December 31, 2020, by their administrators; and
• Legal entities headquartered in Brazil, with total outstanding balance of commercial credits payable within 360 days, granted by non-residents, in an amount equal to or greater than the equivalent of US$1 million, on December 31, 2020.
Failure to file the declaration, failure to comply with the deadline, or provision of incorrect, incomplete or false information may result in fines.
Renata Pisaneschi
Partner of the Corporate/Contracts/M&A practice
renata.pisaneschi@francoadv.com
Camila Sousa
Associate of the Corporate/Contracts/M&A practice
camila.sousa@francoadv.com
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