The Central Bank of Brazil ("BACEN") establishes periodic obligations for companies receiving foreign direct investment to manually update data relating to their corporate structure and/or of an economic and financial nature.
These updates are made through BACEN's RDE-IED system and must be carried out depending on the amount of the Receiving Company's Equity or Assets:
- Annually, for companies with Net Worth or Assets lower than two hundred and fifty million reais (R$ 250,000,000.00), by updating the corporate chart, with reference to the base date of December 31, until March 31, 2022;
- Quarterly, for companies with Net Worth or Assets equal to or greater than R$ 250,000,000.00 (two hundred and fifty million reais), through the Financial Economic Statement ("DEF"). About the DEF:
- i)It must be carried out with reference to the base dates of 31 March, 30 June, 30 September and 31 December;
- ii)The deadline for filing is up to 90 (ninety) days after each base date(until 31.03.2022 for the base date 31 December; 06.2022 for the base date 31 March; 30.09 .2022 for the base date 30 June and 31.12. 2022 for the base date 30 September);
- iii)The informed data must include only the receiving company, and not the consolidated economic group.
We also highlight that any corporate change involving the foreign investor, such as capital increase or disposal of quotas or shares, also requires the updating of the corporate chart on the RDE-IED system, within thirty (30) days from the corporate act or from the settlement of the exchange contract, as applicable.
The Corporate Law team of Barcellos Tucunduva Advogados remains at your disposal to clarify any doubts related to the above topic, at the e-mail [email protected].
