Companies with assets equal to or greater than R$ 300 million that have received foreign investments need to be aware!
The period for updating financial information at the Central Bank is coming up. If your company has more than BRL 300 million in assets and has received investments from abroad, you must submit the Quarterly Economic-Financial Declaration by December 31.
What is the Quarterly Economic-Financial Declaration?
It is a report that companies send to the Central Bank to report their financial situation. This declaration is important for the government to monitor foreign investments in Brazil and make decisions about the economy.
Who needs to declare?
Any companies that:
- Has received investment from abroad; and
- Has total assets of BRL 300 million or more.
What is the deadline for the declaration?
The declaration must be submitted every quarter, by the last business day of the quarter. For example, information for the last quarter must be submitted by December 31.
Why is it important to declare?
- Legal obligation: It is a requirement of the Central Bank and failure to comply may result in a fine.
- Transparency: The declaration assures the transparency of the financial transactions.
- Improved economy: The data collected helps to improve the country’s economic planning.
What happens if I don’t declare or declare incorrectly?
Failure to comply with the obligation to declare or providing incorrect information may result in fines of up to BRL 250,000.00.
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@plbrasil.com.br
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