Registration of Quarterly Economic-Financial Statements with the Central Bank – Base Date of September 30, 2023

Brazilian entities that receive foreign direct investment in any amount, and whose total assets amount to or exceed BRL 300 million, must submit to the Central Bank of Brazil (“BC”), by December 31, 2023, their economic-financial statements (Declaração Econômico-Financeira – “DEF”) regarding the base date of September 30, 2023.

This submission 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 BC.

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