Companies with foreign capital are required to send CBE to Central Bank

According to the National Monetary Council Resolution 3,854/2010 and the Central Bank of Brazil Circular 3.624/2013 (Bacen), all legal residing entities and individuals domiciled or headquartered in Brazil, holding amounts, assets, goods and/or rights overseas in amounts equal to or greater than USD 100,000 , 00 (one hundred thousand US dollars), or the equivalent in other currencies, shall annually present the Brazilian Statement of Capital Abroad ("CBE"), as of December 31 of the previous year.

Deadline

The annual statement for the December 31, 2017 base date should be submitted from February 15 10:00 am until on April 5, 2018 6:00 pm, using the form available at Bacen website - www.bcb.gov.br.

Information to file

The electronic form comprehends goods and rights information, as follows:

i. warehouse;

ii. loan in Brazilian Reais;

iii. financing;

iv. financial leasing;

v. direct investment;

vi. portfolio investment;

vii. application in derivative financial instruments; and

viii. other investments, including real estate and other assets.

Important: Those responsible for filing the CBE Statements should keep the supporting documents for provided information for a five-year period, as of CBE Statement base date, to present to Bacen, if requested.

Important notes

a) filing CBE with delay, failure and/or provide inaccurate, incomplete, or false information may lead to Bacen penalties.

b) CBE does not replace the Individuals’ Income Tax Statement (DIRPF) to which the alien resident in Brazil is required to yearly file to April 30.