Information to Brazilian Central Bank – Annual Census

Central Bank Resolutions No. 278/2022 and No. 281/2022, which regulate Law 14,286/2021, provide that the Annual Periodic Statement of Foreign Direct Investment (Annual Census), as of base-date December 31, 2022, must be submitted to the Brazilian Central Bank, through the Brazilian Central Bank website, by no later than August 15, 2023, at 6pm. According to such rules, only the following legal entities are required to comply with the Annual Census obligation:

• Entities headquartered in Brazil whose capital stock is wholly or partially held by non-resident shareholders and with net equity equal to or greater than the equivalent in local currency to US$ 100 million on December 31, 2022; and

• Investment funds with non-resident investors and net equity equal to or greater than the equivalent in local currency to US$ 100 million on December 31, 2022, through its managers.

The Annual Census requires the submission of certain accounting information, which should be available in the company’s financial statements of December 31, 2022. Note that failure to participate in the Annual Census or provision of false, incomplete, incorrect, or late information may result in the application of penalties by the Brazilian Central Bank, in accordance with the current legislation.

If you have any further questions or need any assistance on this matter, please, contact our Corporate Law team.