INFORMATIVE
Declaration of Brazilian Capital Abroad (Overseas)
In accordance with Resolution 3,854/2010 of the National Monetary Council and Circular nº 3.624/2013 of the Central Bank of Brazil, the 2022 Annual Declaration of Brazilian Capital Abroad, with the base year 2021, is mandatory for residents in Brazil with assets and securities located outside the national territory (including real estate, deposits, foreign currency availability) in the amount of $1.000.000.00 (US$1 million) or more at December 31st 2021.
We remind you that non-compliance with the legislation relating to this declaration exposes those responsible to the fines imposed by the Central Bank of Brazil, in the following percentages and occurrences:
– In case of presentation of a late declaration: R$ 25.000,00 (twenty-five thousand reais), or 1% (one percent) of the amount subject to the declaration, which is lower;[1]
– In case of declaration’s presentation containing incorrect or incomplete information: R$ 50.000,00 (fifty thousand reais), or 2% (two percent) of the amount subject to the declaration, which is lower;
– In case of declaration’s non-presentation or non-presentation of supporting documents to the Central Bank of Brazil: R$ 125,000.00 (one hundred and twenty-five thousand reais), or 5% (five percent) of the amount submitted to the declaration, which is lower;
[1] In case of delay in the presentatio of the declaration, the fine will be reduced in the following situations: (i) being the delay of 1 to 30 days, the fine will correspond to 10% (ten percent) of the expected amount; (ii) Given the 31-60 day period, the fine will be 50% (fifty percent) of the expected amount.
Seeking legal assistance/consultation regarding declaration of brazilian capital abroad (overseas) in Brazil? Solere Advogados Associados can help. We are a law firm specialized in Brazilian business law, with practice in tax, corporate, commercial, labor, civil, specially on M&A, transactions, business partnership negotiations and any other form of foreign business implantation. You can reach us directly at 55 21 981-01-61-51 or sending us a WhatsApp message (click this link to open the app) or e-mail.