Brazilian companies with foreign investment must annually update the registration of their net equity and paid-in share capital with the Central Bank of Brazil (“BACEN”), with the base date of December 31, 2017, to March 31, 2018.
Furthermore, Brazilian companies with assets or net equity equal to or greater than 250 million Reais must submit quarterly economic and financial statements to BACEN, with the deadline for submitting the first statement being March 31, 2018.
These updates and declarations are required under Resolution No. 4.533 of November 29, 2016, and Circular No. 3.814 of December 7, 2016 (partially amended by Circular No. 3.822 of January 20, 2017). Failure to comply with them may result in fines from the Central Bank of Brazil.
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