Annual Census of Foreign Capital in Brazil

The term for submissions of the Annual Census of Foreign Capital in Brazil to the Central Bank of Brazil (“BCB”) started in the beginning of this month and will expire on August 15, 2024.

Entities that must submit the Annual Census to the BCB are those that, on December 31, 2023, held, in the composition of their capital stock, direct participation of non-resident investors in any amount and, simultaneously, obtained net worth equal to or higher than the equivalent in Brazilian Reais to USD 100 million.

Investment funds with non-resident investors and net worth equal to or higher than the equivalent in Brazilian Reais to USD 100 million are also required to submit the respective census through their managers.

The following are not subject to the referred obligation:

1. individuals;
2. Government bodies; and
3. non-profit entities maintained through contributions from non-residents.

The submission of the Annual Census of Foreign Capital in Brazil is one of the obligations applicable to Brazilian entities that receive foreign direct investments, and any omission or delay to comply with such obligation can result in the application of penalties by the BCB.

Demarest’s Banking and Finance team is available to assist you in complying with this obligation and provide any further clarifications that may be necessary.