Do you have money invested outside Brazil? Or does your company invest in the international market? So, learn all about the declaration of Brazilian capital abroad and pay attention to the deadline, avoid problems.
Have you ever thought about having to pay a fine for forgetting to declare investments outside Brazil? Well, the deadline for declaring your Brazilian capital abroad has begun!If you have more than 100 million dollars in assets or investments in other countries, you must notify the Central Bank by April 5, 2024.
What is the Declaration of Brazilian Capital Abroad?
It is the declaration that informs the Brazilian government about the investment that is held in banks, real estate or other investments outside the country. This information is important for the government to monitor the economy and prevent fraud.
The Declaration of Brazilian Capital Abroad (CBE) is 4 times a year, either annually or quarterly, depending on the total amount of investment outside the country:
• One million US dollars (US$ 1,000,000.00), or equivalent in other currencies, as of December 31 of each base year – CBE Annual.
• One hundred million US dollars (US$ 100,000,000.00), or equivalent in other currencies, as of March 31, June 30, and September 30 of each base year – CBE Quarterly.
Who needs to declare in December?
The Declaration of Brazilian Capital Abroad is mandatory for individuals and companies that have more than 100 million dollars in assets abroad. If you don’t declare, you could be fined up to R$250,000! In addition, the declaration helps to avoid problems with the IRS and other agencies.
Legal basis: Law 14,286/2021 and BCB Resolution 279/2022.
The PLBrasil Group’s Foreign Capital team is available to assist you with the registrations required by the Central Bank of Brazil through the channels below:
+55 (11) 3292-5050
nn.sp@plbrasil.com.br
Check out the latest Paralegal articles
Real estate due diligence: be very careful when buying or renting property
Due diligence activities have gained considerable importance in a corporate world that is increasingly dependent on up-to-date and reliable information in decision-making processes. It means, in free translation and in summary form, carrying out due [...]
How to cancel a protest?
As defined by law 9492/97, protest is the formal and solemn act by which default and non-compliance with an obligation originating in securities and other debt documents are proven. In practice, it consists of the [...]
How important is the approval of Administrators accounts?
As the period for assessing and approving the accounts of company administrators draws to a close, there are still doubts about various aspects of the subject: Is it compulsory? Are there any penalties? What [...]
Check out the latest Paralegal articles
Real estate due diligence: be very careful when buying or renting property
Due diligence activities have gained considerable importance in a corporate world that is increasingly dependent on up-to-date and reliable information in decision-making processes. It means, in free translation and in summary form, carrying out due [...]
How to cancel a protest?
As defined by law 9492/97, protest is the formal and solemn act by which default and non-compliance with an obligation originating in securities and other debt documents are proven. In practice, it consists of the [...]
How important is the approval of Administrators accounts?
As the period for assessing and approving the accounts of company administrators draws to a close, there are still doubts about various aspects of the subject: Is it compulsory? Are there any penalties? What [...]
