Remember that, in compliance with Resolution no. 3854 issued by the National Monetary Council on May 27th, 2010, and Circular no. 3624, issued by the Central Bank of Brazil on February 6th, 2013, individuals or legal entities resident, domiciled or headquartered in Brazil (including expatriates equivalent to residents for tax purposes) are required to submit to the Central Bank a list of goods and values held abroad (“CBE”) on the base date of December 31th, 2015, in an amount equal to or greater than one hundred thousand US dollars or its equivalent in other currencies, They are also required to submit a list of goods and values on the base dates of March 31st, 2016, June 30th, 2016 and September 30th, 2016., in an amount equal to or greater than one hundred million US dollars or its equivalent in other currencies. The statement relating to the list of December 31st, 2015 should be paid to the Central Bank in the period between 15th February 2016 and 18:00 hours of April 5th, 2016.
If the total value of goods and valuables held abroad, at each reporting date is lower than the sums mentioned above, it is waived the obligation to submit a declaration to the Central Bank. They should be reported to the Central Bank the following types of assets held outside the country:
►► Deposits in current accounts abroad
►► Financing (export of goods and / or services)
►► Leasing and financial leases
►► Direct investment
►► Portfolio investments
►► Investment in financial derivatives
►► Other investments, including investments in real estate and other assets
The Brazilian investment funds, through its officers, must report their total investments abroad, specifying type and characteristics. The registration of this declaration shall be made directly by each declaring party on the website of the Central Bank:
The individuals and companies that fail to meet this obligation will be subject to administrative sanctions established by the Central Bank, which may include a fine of up to R $ 250,000.00.