Foreign Investment Periodic Declarations In Brazil: Look The Deadlines

• Published date: 01 April 2024
• Subject Matter: Government, Public Sector, Inward/ Foreign Investment
• Law Firm: Koury Lopes Advogados
• Author: Koury Lopes Advogados

The Central Bank replicates the transition rules for the periodic submissions of foreign capital in Brazil for 2024; please check the declarations required this year

Since the implementation of Law No. 14.286/2021, known as the New Foreign Exchange Legal Framework, the Central Bank of Brazil (BACEN) has issued several resolutions to regulate the foreign exchange market. One of the most recent is Resolution BCB No. 348/2023, published on October 17, 2023, which, among other measures, extends to 2024 the transition rules for the submission of periodic declarations related to foreign capital in Brazil, which were applicable in 2023.

Below is a summary of the relevant information about the quarterly and annual declarations which need to be presented to BACEN in 2024.

• Types of declarations, who must submit, and deadlines:

Types	Who must submit	Deadlines
Quarterly Declaration	Direct foreign investment recipients who, on the indicated base dates, have total assets equal to or greater than BRL 300 million.	base date of 12/31/2023: declaration period from 01/01/2024, to 03/31/2024; base date of 03/31/2024: declaration period from 04/01/2024 to 06/30/2024; base date of 06/30/2024: declaration period from 07/01/2024 to September 09/30/2024.
Annual Declaration	Domestic legal entities with direct participation by non-residents in their capital stock, in any amount, and with net equity equal to or greater than the equivalent of USD 100 million on 12/31/2023; and investment funds with non-resident unitholders and net equity equal to or greater than the equivalent of USD 100 million, on 12/31/2023, through their administrators.	declaration period from 07/01/2024 to 08/15/2024, until 6:00 PM.

• Submission Method:

Declarations must be made directly on the BACEN's website. The Quarterly Declarations, must be submitted in the SCE-IED system, using the...