According to CMN Resolution No. 3,854/10, The Brazilian Central Bank ("BACEN") requires that individuals and legal entities resident, domiciled or headquartered in Brazil declare the assets and/or rights they hold in a foreign country through Annual Declaration of Brazilian Capital Abroad ("DCBE"), provided that such assets and/or rights totalize an amount equivalent or superior than one hundred thousand dollars of United States of America (USD100,000.00). There are two types of DCBE: annual and quarterly.
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