By André Jerusalem

At the beginning of July, the deadline for submitting the census of foreign capital in the country was opened, which aims to compile economic and financial data from companies and investment funds based in Brazil that have direct foreign equity participation.
This year the annual census will be carried out, and the following people must submit the declaration:

• Legal entities headquartered in the country, 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$$100 million on the base date of December 31 of the base year;
• Investment funds with non-resident shareholders and with net equity equal to or greater than the equivalent of US$$100 million, on the base date of December 31 of the base year, through their administrators;
• Legal entities headquartered in the country, with a total outstanding balance of short-term commercial credits (due within 360 days) granted by non-residents, in an amount equal to or greater than the equivalent of US$$10 million, on the base date of December 31 of the base year.
  The following are exempt from filing the declaration: individuals; bodies of the Direct Administration of the Union, States, Federal District and Municipalities; legal entities in debt for transfers of external credits granted by institutions headquartered in the country; and non-profit entities maintained by contributions from non-residents.

The deadline for submitting the declaration is from July 1 to 6 pm on August 15, 2022, with the reference base year being 2021. The reference base date is December 31, 2021.

Our Financial Law and Corporate Law team is available to clarify any questions related to the presentation of the annual census.