Annual Census Of Foreign Capital In Brazil

On June 25, 2012, the Central Bank of Brazil ("CBB") issued Circular nr. 3.602/2012 which established an "Annual Census of Foreign Capital" in the country ("Annual Census"). The aim of the survey is to collect information on foreign investment in Brazil. This information, using December 31, 2011 as the reference date, should be submitted to the CBB, by means of the electronic system available on the relevant page of the bank's website, by September 6, 2012.

Companies obliged to provide information for the Annual Census are:

(i) companies headquartered in Brazil which have any amount of direct foreign capital in them, and which have a net equity that is equal to or greater than US$ 100 million; and

(ii) companies based in Brazil which have a total outstanding balance of short-term trade credits (enforceable within 360 days), that are equal to or greater than US$ 10 million.

In addition to this, investment funds should state, through their administrators, the total sum of their investments and the respective participation of foreigners in their capital, highlighting those non-residents who have an individual share equal to or greater than 10% of the capital of the fund, considering the minimum amount of US$ 100 million invested...