Deadline for submitting the Annual Statement of Brazilian Capital held Abroad enters into force

The Annual Statement of Brazilian Capital held Abroad (“DCBE”) to the Central Bank of Brazil (“BC”), referring to the base date of December 31, 2024, must be submitted from February 15 to April 05, 2025.

The annual statement must be submitted by all individuals and legal entities:

• that are resident, domiciled or headquartered in Brazil; and
• that held, outside Brazil, assets of any nature that amounted to or exceeded USD 1,000,000.00 on the base date of December 31, 2024.

Among other assets, the DCBE encompasses the following amounts, goods, rights, and assets:

1. ownership shares in companies located outside Brazil;
2. Brazilian Depositary Receipts (BDRs) of securities issued by companies located outside Brazil;
3. quotas from investment funds held outside Brazil;
4. debt instruments issued by non-residents in Brazil;
5. loans and financing granted to non-residents in Brazil;
6. deposits held by non-resident institutions;
7. commercial credits against non-residents;
8. real estate located outside Brazil;
9. virtual assets in exchanges and portfolios held outside Brazil;
10. derivatives negotiated outside Brazil; and
11. revenues from exports held outside Brazil, among others.

Any failure or delay to submit the information required by the BC as well as the submission of false, incomplete, incorrect, or non-compliant information constitute violations that are subject to the application of fines by the BC.

Additionally, the BC is required to ensure the confidential processing of all data received. Thus, the information submitted to the BC must remain confidential so that individual data cannot be identified.

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