News
2/2011 - CENSUS OF FOREIGN CAPITAL IN BRAZIL 2011
On 09/20/2011 the Central Bank of Brazil published the Circular No. 3559, regulating the 2011 Foreign Capital Census.
The statements must be delivered to the Central Bank between October 3rd and November 1st,2011.
The following must present the statement required in the Census:
a) legal entities based in Brazil with direct foreign investment on December 31, 2010; and
b) legal entities based in Brazil debtors of credits granted by non-residents, that have outstanding balance of principal equal to or exceeding the equivalent of US$ 1,000.000.00 on December 31, 2010.
We emphasize that failure to submit or late submission of the said census shall be subject to a fine of R$ 20,000.00 or 2% of the amount subject to the declaration, whichever is less (art. 1, III, Resolution of the National Monetary Council - No 2.883/2001).
Our office has a specialized team to assist you with this subject.
