The Central Bank of Brazil
started the five-year Census of Foreign Capital. Until August 15, 2016, legal
entities that meet the parameters set by the authority must provide a statement
on the participation of foreign capital in its organization.
The legal entities that
have direct participation of non-residents in its capital; investment funds
with non-resident shareholders; and legal entities that have received financial
support from non-residents in an amount equal to or greater than US $ 1,000,000.00
(one million American dollars), are required to provide the declaration.
If the legal entity fails to
provide the statement within the statutory period, or provides false,
incomplete or incorrect information, then it will be subject to a fine of up to
R$ 250,000.00 (two hundred and fifty thousand Brazilian reais).
