According to Ordinance of the Central Bank of Brazil No. 3,603, dated June 27, 2013, the companies headquartered in Brazil are subject to the 2015 Annual Survey on Foreign Capital and shall submit to the Central Bank, from July 1, 2015 until August 17, 2015 6:00 pm, a statement containing financial information as required by the Survey.
The following companies are subject to the 2015 Survey:
- a) Companies headquartered in Brazil that had, on December 31, 2014, direct investment by non-residents in their capital stock in any amount and with a net worth equal to or higher than US$ 100 million (one hundred million US dollars); and/or
- b) Companies headquartered in Brazil that were, on December 31, 2014, debtors of short-term commercial credits (payable within 360 days) equal to or higher than US$ 10 million (ten million US dollars) granted by non-residents, regardless of investment of foreigners in their capital stock.
* Exchange rate on December 31, 2014: US$ 1.00 = R$ 2.66
Please find below who is not subject to the 2015 Survey:
- individuals; and
- direct administration of the Federation, States, Federal District and Municipalities.
The non-presentation or late presentation of the completed Annual Survey to the Central Bank of Brazil, or the presentation of incomplete or false information may subject the company to a penalty of up to R$ 250,000.00 (two hundred fifty thousand reais), as provided for in Resolution No. 4,104 of the Brazilian National Monetary Council, dated June 28, 2012.
Legal grounds
- Law 4.131, dated September 3, 1962
- Provisional Measure 2,224, dated September 4, 2001
- Resolution CMN 4,104, dated June 28, 2012
- Ordinance 3,602, dated June 25, 2012
- Circular Letter 3,603, dated June 27, 2013
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.