As a measure of prevention and fight against tax evasion, corruption and money laundering, the Brazilian Revenue Service published the Normative Instruction nº. 1.634, dated May 6th, 2016 (“IN 1634”).
The main rules are:
1. Indicate who is the final beneficiary
a. The natural person who ultimately – directly or indirectly – owns, controls or significantly influences an entity (holds more 25% percent), directly or indirectly;
b. The natural person on whose behalf a transaction is conducted.
Deadline: Companies must inform the final beneficiary by the deadline of December 31st, 2018.
Penalty: Any legal entity that does not fulfill the information regarding the final beneficiary in due date or does not submit the required documents specified in the IN, shall have its CNPJ’s enrollment SUSPENDED and may have their activities interrupted in Brazil
The PLBrasil Group has a team trained to evaluate and comply with the legal requirements of the Normative Instruction. In case you need any further clarification, or would like to know the amount of fees related to the process, please do not hesitate in contacting us.
The PLBrasil Group’s Foreign Capital teamis available to assist you with the records required by the Central Bank of Brazil in the channels below:
+55 (11) 3292-5050
nn.sp@plbrasil.com.br
Check out the latest Paralegal articles
End of physical books at JUCESP: new authentication rules starting September 2025
The Registry of Commerce of the State of São Paulo (JUCESP) announced that, as of September 1st, 2025, all companies' books must be authenticated exclusively digitally. The new procedure, provided for in DREI/SGD/ME Normative Ruling [...]
Federal Revenue Office Clearance Certificates now in one place: what changes for your company
The Federal Revenue Office has modernized the process for issuing debt clearance certificates (CNDs), bringing together in a single digital environment all types of certificates previously accessed separately by individuals, legal entities and those related [...]
Attention, companies with investment abroad! The deadline to declare financial information is September 31
Companies with more than BRL 300 million in assets and investment abroad, pay attention! The deadline for updating financial information with the Central Bank is the end of the month. Learn more about quarterly [...]
Check out the latest Paralegal articles
End of physical books at JUCESP: new authentication rules starting September 2025
The Registry of Commerce of the State of São Paulo (JUCESP) announced that, as of September 1st, 2025, all companies' books must be authenticated exclusively digitally. The new procedure, provided for in DREI/SGD/ME Normative Ruling [...]
Federal Revenue Office Clearance Certificates now in one place: what changes for your company
The Federal Revenue Office has modernized the process for issuing debt clearance certificates (CNDs), bringing together in a single digital environment all types of certificates previously accessed separately by individuals, legal entities and those related [...]
Attention, companies with investment abroad! The deadline to declare financial information is September 31
Companies with more than BRL 300 million in assets and investment abroad, pay attention! The deadline for updating financial information with the Central Bank is the end of the month. Learn more about quarterly [...]
