The 2021 Quinquennial Census on Foreign Capitals in Brazil declaration, related to base year of 2020 (“Quinquennial Census”), shall be submitted from July 1 until 6 p.m. of August 16, 2021.
Quinquennial Census refers to date bases of years ending in zero (0) or five (5) and is determined by Brazilian Central Bank’s (“BACEN”) Circular No. 3,795/2016, which requires the timely submission of the Quinquennial Census, whose form is available at BACEN’s website.
Quinquennial Census declaration shall be mandatorily submitted by:
- Legal entities headquartered in Brazil, with direct investment of non-residents in their share capital, in any amount, on the date base of December 31, 2020;
- Investment funds with non-residents in Brazil investors, on the date base of December 31, 2020, through their legal representatives; and
- Legal entities headquartered in Brazil, with total outstanding balance of short-term commercial credits – due within up to three hundred and sixty (360) days –, granted by non-residents, in amount equal or higher than one million United States of American dollars (USD 1.000.000,00), on the base date of December 31, 2020, which corresponds to the amount of five million, one hundred and ninety-six thousand and one hundred Brazilian Reais (BRL 5,196,100.00).
In the Quinquennial Census declaration, the declaring party shall provide some of its economic and financial data, accounting information, information regarding voting rights of residents and non-residents, economic group, number of employees, among other information.
Are dismissed from submitting the Quinquennial Census declaration: individuals; bodies from Public Direct Administration of the Union, States, Federal District and Municipalities; legal entities that are liable for payments of transfer of foreign credits granted by institutions headquartered in Brazil; and non-profit entities maintained by non-residents contributions.
The supporting documentation of the information provided in the Quinquennial Census declaration shall be kept by the responsible for its provision for the term of five (5) years, counted from the base of the declaration.
The non-observance to the obligations above, as well as the submission of the Quinquennial Census declaration with error or defect, or the failure to submit the Quinquennial Census declaration, may result in the application of penalties by BACEN, according to BACEN Circular No. 3,857/2017, as amended.
Corporate, M&A and Contracts | Foreign Investment Team