The Brazilian Central Bank (“BACEN”) establishes periodic obligations for companies receiving foreign direct investment to manually update data related to their corporate structure and/or economic-financial nature.
These updates are made through the RDE-IED system of BACEN and, depending on the value of the net equity or assets of the company, it must be performed:
- a) Annually, for companies with net equity or assets lower than BRL 250,000,000.00 (two hundred and fifty million Brazilian reais), by updating the corporate chart, concerning the base date of December 31, until 03.31.2022;
- b) Quarterly, for companies with net equity or assets equal to orgreater than BRL 250,000,000.00 (two hundred and fifty million Brazilian reais), through the Financial Economic Statement (“DEF”). About the DEF:
i) It must be performed with reference to the base dates of March 31, June 30, September 30, and December 31;
ii) The deadline for filling out is up to ninety (90) days after each base date (up to 03.31.2022 for the base date December 31; 06.30.2022 for the base date March 31; 09.30.2022 for the base date June 30; and 12.31.2022 for the base date September 30); and
iii) The data informed must consider only the company, and not the consolidated of the economic group.
We also highlight that any corporate change involving the foreign investor, such as capital increase or transfer of quotas / shares, also requires the update of the corporate chart in the RDE-IED system, within thirty (30) days from the corporate act or the exchange contract, as applicable.
The Corporate Law team of Barcellos Tucunduva Advogados remains at your disposal to clarify any questions related to the above topic, at [email protected].
