Brazilian funds and companies have up to August 15 to provide information to the Central Bank of Brazil (BACEN) in the realm of the annual census of foreign capitals in Brazil. Pursuant to Bacen’s Rule 3.795, investment funds and companies are obliged to submit information regarding to their corporate structure, their financial and accounting information and their debt situation towards foreign creditors.
The Brazilian funds and entities that must submit their information are those:
- With direct capital participation of foreigners, and whose Equity is equal or higher than 100 million US Dollars; and
- With short-term debt (less than 360 days) towards foreign parties equal or higher than 10 million US Dollars.
The data refers to the entities’ financial status on December 31, 2016. The declaration is to be submitted online, through BACEN’s website (http://www.bcb.gov.br).
Adriano B. Consentino was partner at Pacheco Neto Sanden Teisseire Law Firm.
