According to the Circular Letter of the Central Bank No. 3.603 of June 27th, 2013, which regulates the Annual Census on Foreign Capitals in Brazil, the legal entities residents in the country, including investment funds, that, on December 31st, 2012, fulfilled one of the criteria below listed shall send a declaration to the referred-to Census:
I. Net equity equal or higher than US$ 100 million (one hundred million dollars) and, simultaneously, foreign directly participation, of any value, of non residents, at its capital stock.
II. Debit balance equal or higher than US$ 10 million (ten million dollars) due to short-term commercial credits (due up to 360 days) granted by non-residents, irrespective of foreign capital stock participation.
The statements related to the fiscal year ended on December 13th, 2012 shall be submitted until 6 p.m. of August 15th, 2013, through a form available at the Federal Revenue website.
We point out that if the statement is not submitted, or they are not submitted in time, or submitted wrongly or with mistakes, the company shall be subject to the application of fine by the Central Bank.
We remain at your disposal for any further clarifications on this matter, as well as to assist you in the preparation of the referred-to statement.
This issue was written by:
Camila Araújo, Juliana Tiemi Hashimoto, Martim de Assis Arantes and Cristina Figueiredo Donnini.