We would like to remind you that August, 15, 2016 at 6:00 pm is the deadline to submit the Quinquennial Foreign Capital Survey regarding 2015 (“Survey”).
The Quinquennial Survey, regarding years ending in zero “0” and five “5” (2015,2020,etc.), and the Annual Survey, regarding the others years, are regulated by Circular Rule No. 3,795 issued by Brazilian Central Bank.
The Circular states that the Quinquennial Survey must be submitted by:
(a) Legal entities headquartered in Brazil, with direct investment of non-residents in its share capital, in any amount, as at December 31, 2015;
(b) Investment funds that, on December 31, 2015, have non-resident shareholders; and
(c) Legal entities headquartered in Brazil, with outstanding balance of short-term commercial credits (less than 360 days) granted by non-residents, as at December 31, 2015, was equal to or superior than the equivalent to US$ 1,000,000.
We also inform that the next Annual Survey, (related to December, 31, 2016) must be submitted between July, 1, 2017 and August, 15, 2017, and only by legal i) entities and investment funds headquartered in Brazil with non-resident shareholders and equity capital as equal or superior than the equivalent to US$100 million and ii) legal entities headquartered in Brazil, with outstanding balance of short-term commercial credits (less than 360 days) granted by non-residents, equal to or superior than the equivalent to US$ 10 million.
Finally, we remind you that the non-delivery or late delivery of the Survey to the Central Bank, or the presentation of incomplete or false information, may result in a fine of up to R$ 250,000, in accordance with Resolution No. 4,104 issued by the National Monetary Council.
Please do not hesitate to contact us should you need our assistance in connection with this matter or should you need any further clarification.