![[Expertise] Areas](https://lawmee.com.br/wp-content/uploads/2016/07/img-marcacao-home-atuacao.jpg "[Expertise] Areas")
![Our [Professionals]](https://lawmee.com.br/wp-content/uploads/2016/07/img-marcacao-home-profissionais.jpg "Our [Professionals]")
![About [Us]](https://lawmee.com.br/wp-content/uploads/2016/07/img-marcacao-lateral.jpg "About [Us]")
Census of Foreign Capital
The Central Bank of Brazil issued Circular no. 3795 of June 16, 2016, which has defined the execution of the Five-year Census of Foreign Capital in Brazil (“2016 Census”) for the years ended in zero (0) and five (5). The mandatory submission of the annual statement for the Census of Foreign Capital in Brazil remains for the other years.
Thus, according to the Circular no. 3795, the Central Bank of Brazil performs, this year, the 2016 Census. The 2016 Census statements shall have December 31, 2015 as the reference date and shall be provided: (i) by companies with head offices in Brazil, with direct participation of non-residents in their capital, in any amount, on December 31, 2015; (ii) by investment funds with non-resident shareholders on December 31, 2015; and (iii) by companies with head offices in Brazil, with a total outstanding balance of short-term credit (payable up to 360 days) granted by non-residents equal or higher to the equivalent of US$ 1 million on December 31, 2015.
The deadline for submission of the 2016 Census’s statements begins on July 1, 2016 and ends on August 15, 2016.
Any possible failure or delay to submit the above statement, or the supply of incorrect, incomplete, or false information will subject the responsible parties to fines, under the terms of law.
Mattos Engelberg corporate team is available should you need any assistance on this matter (societario@mattosengelberg.com.br).
This communication is merely informative; it is not a legal opinion.
