Annual Census Of Foreign Capitals

Article by Luciana Felisbino and Victor B. Martinelli*

1. On June 25th, 2012 the Central Bank of Brazil (BCB) issued Circular No. 3,602/2012 which created the Annual Census of Foreign Capitals in Brazil ("Annual Census"), by means of an annual declaration to be provided to BCB based on the information related to the reference date of December 31st of the precedent year.

2. Pursuant to Circular No. 3,602/2012, the following entities have to file the Annual Census declaration: (i) the companies headquartered in Brazil with direct investment of foreign investors in its corporate capital at any amount and net worth equal to or greater than one hundred million US dollars (US$ 100,000,000.00); (ii) the companies headquartered in Brazil, debtors of short-term (due within 360 days) commercial credits, whose total outstanding balance is equal to or exceeds ten million US dollars (US$ 10,000,000.00).