Reminder: Census of Foreign Capital in Brazil (Annual Declaration 2023)

The deadline for submitting to the Central Bank of Brazil (BCB) the annual declaration of the Census of Foreign Capital in Brazil (“Census“), for the base year 2022, under the terms of BCB Resolution No. 281, of December 31, 2022, ends on August 15, 2023, at 6 pm.

1. Who must make the declaration. Entities headquartered in Brazil which, on December 31, 2022, met one of the criteria mentioned below must make the declaration:

  1. legal entities headquartered in the country (a) with direct participation of non-residents in their share capital, in any amount, and, cumulatively, (b) with net worth equal to or greater than the equivalent of US$ 100 million (one hundred million United States dollars), on December 31 of the base year; and
  2. investment funds with non-resident shareholders and net assets equal to or greater than the equivalent of US$ 100 million (one hundred million United States dollars), as of December 31 of the base year, through their administrators.* To convert currencies click here.

2. Who is exempt from making the declaration. The following are exempt from making this declaration: (i) natural persons; (ii) direct administration bodies of the Federal Government, States, Federal District and Municipalities; and (iii) non-profit entities maintained by contributions from non-residents.

3. Penalties.Failure to provide information or information that is false, incomplete, incorrect or outside the time limits and conditions laid down in the regulations in force will subject offenders to a fine from the BCB.

4. Purpose of the Census and Confidentiality of the Data Declared. It should be noted that the purpose of the Census is to collect information on Brazil’s external financing, so that the statistical data collected can serve as a subsidy for the formulation of Brazilian economic policy. The BCB will only disclose the statistical data compiled, so that the confidentiality of the individual information provided by each declarant will be preserved.

The Araújo e Policastro team is available to provide clarification on this matter and assist in the necessary steps before the Central Bank of Brazil.