The 2020 Annual Census of Foreign Capital ("2020 Census"), referring to the base date of December 31, 2019, must be transmitted to the Central Bank of Brazil by 6:00 p.m. on August 17, 2020.
The statement comprises information regarding the corporate structure, economic and accounting information, and liabilities with non-resident creditors in Brazil.
The following are subject to the 2020 Census:
I - legal entities headquartered in Brazil with direct participation of non-residents in their capital stock, in any amount, and with net worth equal to or greater than US$ 100 million;
II - investment funds with non-resident quota holders and net worth equal to or greater than US$ 100 million; and
III - legal entities headquartered in Brazil with a total outstanding balance of short-term trade credits (payable within 360 days) granted by non-residents equal to or above US$ 10 million.
The failure to submit or the submission of incomplete, incorrect, false or untimely information may result in the imposition of a fine.
The Corporate Law team of Barcellos Tucunduva Advogados is available to clarify any questions related to the above topic, at societario@btlaw.com.br
