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Economic-Financial Statement to the Central Bank of Brazil
As per the current rules of the Central Bank of Brazil regarding foreign capital, the information relating to the net equity and paid-in capital stock of the Brazilian company receiving foreign direct investment must be updated, as well as of the capital paid in by each foreign investor in the register.
Such updating shall be done in the Central Bank of Brazil system, observing the following deadlines:
• Companies receiving foreign direct investment with assets or shareholders’ lower than R$ 250,000,000.00 (two hundred and fifty million reais) must provide the statement annually, by March 31, referring to the base date of December 31 of the previous year;
• Companies receiving foreign direct investment with assets or shareholders’ equal to or greater than R$ 250,000,000.00 (two hundred and fifty million reais) must provide four (4) economic-financial statements per year, according to the following schedule: (i) referring to the base date of March 31, must be rendered until June 30; (ii) referring to the base date of June 30, must be provided until September 30; (iii) referring to the base date of September 30, must be provided until December 31; and (iv) referring to the base date of December 31, shall be provided until March 31 of the subsequent year.
It should be emphasized that, if it coincides with a day on which there is no expedient at the Central Bank of Brazil, the final term of the periods established above will be extended until the first working day.
Lastly, we highlight that the failure to provide the information required by the Central Bank of Brazil or the provision of false, incomplete, incorrect or untimely information will subject the Brazilian company receiving the investment to the applicable penalties.
We are at your full disposal for any assistance in this regard.
