As stipulated by the Central Bank of Brazil’s Circular No. 3,603/16, the mandatory declaration of foreign capital in the country of the base period of December 31, 2017 must be provided between July 2 and August 15, 2018, 6 p.m.
The statement shall be presented by legal entities, including investment funds located in Brazil, classified in one of the following cases: (i) with direct participation of non-residents in its corporate capital at any amount and with net equity equal or up to USD 100,000,000.00 on 12.31.2017; or (ii) with total debit balance of short-term trade credits (liability up to 360 days) equal to or superior to USD 10,000,000.00, granted by non-residents.
In case of absence or false, incomplete, incorrect information are provided or the deadline or requirements are not complied, the responsible for the declaration will be subject to the fines established by the Resolution No. 4,104/12 of the National Monetary Council.