The 2019 Annual Census of Foreign Capital in Brazil - base year 2018 may be submitted as of July 1, whose transmission deadline is August 15, 2019, at 6:00:00 p.m..
The Census of Foreign Capital in Brazil (Corporate Census) aims to collect the information on the Brazil's liabilities abroad, and must be filed annually by the entities that fall within the parameters determined by the Central Bank:
I. Legal entities headquartered in Brazil, with direct interest of non-residents in their capital, in any amount, and with shareholders' equity equal to or greater than the equivalent to USD 100 million on December 31, 2018;
II. Investment funds with non-resident shareholders and equity equal to or greater than the equivalent to USD 100 million, as of December 31, 2018, through its Management Board; and
III. Legal entities headquartered in Brazil, with a total outstanding balance of short-term trade credits (payable within 360 days) granted by non-residents equal to or greater than the equivalent to USD 10 million on December 31, 2018.
The company’s liabilities that make-up the short-term commercial credits are those only in which the:
I. Natural persons;
II. The agencies of direct administration of the Union, States, Federal District and Municipalities;
III. The legal entities that are liable for foreign onlending granted by institutions headquartered in Brazil; and
IV. Non-profit entities supported by contributions of non-residents.
Failure to report or provide false, incomplete, incorrect information or provide it after the deadline to the Foreign Capital Census shall subject the infractors to the following penalties:
I. Providing information after the deadline: 1% of penalty of the amount subject to registration or report, limited to BRL 25,000.00;
II. Providing incorrect or incomplete information: 2% of penalty of the amount subject to registration or report, limited to BRL 50,000.00;
III. Not providing the report: 5% of penalty of the amount subject to registration or declaration, limited to BRL 125,000.00;
IV. Providing false information: 10% of penalty of the amount subject to registration or declaration, limited to BRL 250,000.00.
The reporters shall keep the supporting documents of the information provided in the Corporate Census at the disposal of the Central Bank for a five (5) year period as from the base date of the report.
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