In accordance with the Circular of the Central Bank of Brazil No. 3,689, dated December 16, 2013, as amended by the Circular of the Central Bank of Brazil No. 3,814, dated December 7, 2016, and by the Circular of the Central Bank of Brazil No. 3,822, dated January 20, 2017, which regulate foreign capital in Brazil and Brazilian capital abroad, Brazilian companies with direct foreign investments of non-residents must keep up to date certain information before the Central Bank of Brazil, as mentioned below.
Brazilian companies that, on December 31, 2018, had net worth and assets in amounts lower than R$250 million must update their corporate information (amounts of net worth, paid-up capital and of the capital paid in by each foreign investor) until March 31, 2019.
Brazilian companies that have net worth or total assets in an amount equivalent to or higher than R$250 million must file Financial-Economic Statements, in accordance with the following calendar:
- Base-date of December 31, 2018 - the Statement must be filed until March 31, 2019;
- Base-date of March 31, 2019 – the Statement must be filed until June 30, 2019;
- Base-date of June 30, 2019 - the Statement must be filed until September 30, 2019; and
- Base-date of September 30, 2019 - the Statement must be filed until December 31, 2019.
Veirano's corporate and M&A team is available to assist you, as well as to clarify any doubts that may arise on the above matter.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.