The Central Bank of Brazil regulated through Circular No. 3.795/2016 the annual and quinquennial censuses of foreign capital in Brazil, the Quinquennial Census being defined as the one referring to years ending in 0 or 5 and the Annual Census referring to all other years.
In 2021, the submission is related to the Quinquennial Census for the Fiscal Year ended in 2020, which is mandatory for the following entities:
- legal entities headquartered in Brazil, with direct participation of non-residents in its capital stock, in any amount, on December 31, 2020;
- investment funds with non-resident quotaholders/investors, on December 31, 2020, through their managers; and
- legal entities headquartered in Brazil, with a total outstanding balance of short-term trade credits (due within 360 days) granted by non-residents, in an amount equal to or greater than the equivalent of US$1 million, on 31 December, 2020.
The term for submitting the Five-Year Census began on July 1, 2021 and ends on Monday, August 16, 2021, at 6 pm (Brasilia Time – GMT-3).
Failure to comply with the deadline may result in the application of administrative sanctions, including a fine of up to R$250,000.00 pursuant to Circular No. 3.857/2017.
For more information and support, please get in touch with the authors listed below.