Dear clients,
According to current law, the periodic declaration must be submitted to Brazilian Central Bank as follows:
Annual periodic declaration
Domestic legal entities and investment funds with direct participation of non-residents in their capital in any amount and with net equity equal to or greater than the equivalent of US$ 100 million on December 31, 2023, are required to submit the Annual Declaration.
The deadline for the submission of the Annual Declaration is from July 1, 2024, to August 15, 2024, until 06 p.m.
Quarterly Declaration (Economic-financial declaration – DEF)
Direct foreign investment recipients with total assets equal to or greater than R$ 300 million are required to submit the Quarterly declaration, according to the schedule below:
- By March 31, 2024, for the base date of December 31, 2023;
- By June 30, 2024, for the base date of March 31, 2024;
- By September 30, 2024, for the base date of June 30, 2024;
- By December 31, 2024, for the base date of September 30, 2024.
In both cases, the failure to provide information, or the provision of incorrect, incomplete, false or late information may result in penalties.
The team at Saeki Advogados is prepared to assist you with the necessary procedures for submitting the declarations to the Central Bank of Brazil.
Best regards,