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Closing deadline for annual update FDI info before Brazilian Central Bank

Brazilian Central Banks (BACEN), through circulars, creates obligations for local companies that have direct foreign investment in their capital stock and / or goods, assets, rights, commercial credits and values abroad.

Among these obligations there is the Annual Data Update for FDI (Foreign Direct Investment) before Brazilian Central Bank System (SISBACEN).

Companies that, as of 12/31/2018, had foreign direct investment in their capital stock and had no assets or equity equal to or greater than R$ 250 million were required to carry out this update.

The deadline for sending this information is April 1st.

Companies that eventually file late statements, incomplete, incorrect, false, or simply do not filed the statement, may incur fines ranging from 1% to 10% of the amount to be declared (from R$ 25 thousand to R$ 250 thousand reais).

We also highlight that filing statements at 2019 does not release companies from filing them at 2017 and 2018 (if they were at that time obliged to do so).

Therefore, SIAL's Exchange and International team is at your company's disposal to assist you in complying with such obligations before Brazilian Central Bank.

#FDI #foreigninvestments #investments

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