Registration of Quarterly Economic-Financial Statements (Declaração Econômico-Financeira) with the Central Bank – Base Date of December 31, 2022

Brazilian entities that receive foreign direct equity investment in any amount, and whose total assets amount to or exceed BRL 300 million must submit to the Central Bank of Brazil, by March 31, 2023, their economic-financial statements (Declaração Econômico-Financeira – DEF) as of the base date of December 31, 2022.

This submission is one of the obligations that are applicable to Brazilian entities that receive foreign direct investments, and any omission or delay to comply with such obligation may trigger the application of penalties by the Central Bank.

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