Annual Census of Foreign Capital in Brazil for the Base Year Ending December 31, 2017

The Central Bank of Brazil (“BACEN”), through Circular No. 3.795/2016, established the rules regarding the declaration of the Annual Census of foreign capital in Brazil for the base date of December 31 of the previous year. Therefore, in 2018, the Annual Census declaration for the base year ending December 31, 2017 must be submitted. until August 15, 2018 at 18:00 p.m..

The following entities are required to submit the aforementioned Annual Census declaration for the base year of December 31, 2017: (i) Brazilian legal entities or investment funds with direct participation of non-residents in their share capital, in any amount, and with net equity equal to or greater than the equivalent of US$100.000.000,00 (one hundred million US dollars) on December 31, 2017; and (ii) Brazilian legal entities with a total outstanding balance of short-term commercial credits (payable within 360 days) granted by non-residents equal to or greater than the equivalent of US$10.000.000,00 (ten million US dollars) on December 31, 2017.

Failure to provide the information required by BACEN, the provision of false, incomplete, incorrect information or information outside the deadlines and conditions provided for in the legislation result in fines, which may vary from R$25.000,00 in the case of late delivery of the Annual Census, to R$250.000,00, in the case of provision of false information), according to Circular No. 3.857/2017 of BACEN.