Central Bank announces deadline for Annual Return of Brazilian Capital Abroad

  • 06 March, 2015 - News

The Central Bank of Brazil (Banco Central do Brasil), through the provisions of Directive No. 3,624/2013, announced the deadlines for the Annual Return of Brazilian Capital Abroad (Declaração Anual de Capitais Brasileiros no Exterior), with the reference date of 31 December 2014.

Individuals and legal entities domiciled or headquartered in Brazil are required to provide an annual statement, in case they hold assets abroad, whose total sum on 31 December 2014, are equal to or greater than US$ 100,000.00 (one hundred thousand US dollars), or, even, the corresponding amount in other foreign currency.

Individuals or legal entities owing assets valued over US$ 100,000,000.00 (one hundred million US dollars) abroad are required, in addition to the annual return, to provide the corresponding quarterly returns to the reference dates of 31 March, 30 June and 30 September, in accordance with Clause 2 Paragraph 2 of Resolution No. 3,854/2010.

Individuals holding assets in amount inferior to US$ 100,000.00 (one hundred thousand US dollars) abroad are exempt from presenting the return.

The declaration, available on the Central Bank website, shall be sent until 6 April 2015 (6 pm is the limit time), under penalty of fine due to delay.

Chenut Oliveira Santiago – Sociedade de Advogados remains at your disposal to assist you with this proceeding and any other clarifications related to this matter.