Questions and Answers

Who is obliged to submit the declarations to the Central Bank of Brazil? The companies having foreign direct investment that, on the dates set forth below, had or have assets or net equity higher than BRL 250,000,000 (two hundred and fifty million Brazilian reais).

What is the deadline for the submission of the declarations this year?

Basis date of December 31st, 2020: until March 31st, 2021

Basis date of March 31st, 2021: until June 30th, 2021

Basis date of June 30th, 2021: until September 30th, 2021

Basis date of September 30th, 2021: until December 31st, 2021

What if the company having foreign direct investment does not achieve the threshold of BRL 250,000,000 on December 31st, 2020? Then the company is only required to update, no later than March 31st, 2021, the information on its net worth, assets and portion of capital paid in by each foreign investor on December 31st, 2020.

What are the penalties related to the obligations set forth above? The absence or delay in submitting the declarations or carrying out the update, or the providing false or incorrect information, may subject the infringer to the imposition of a fine by the Central Bank.

Sperling Advogados is at your disposal to assist you in the measures required for the submission of the declarations to the Central Bank of Brazil.