Individuals and corporate entities resident, domiciled or
headquartered in Brazil are required to provide the Central Bank of
Brazil with information concerning any type of assets held outside
Brazil, including currency.
This obligation comprises two types of information: (i) owners of
assets amounting to at least US$ 100,000 (one hundred thousand US
dollars) are required to submit an annual declaration, and (ii)
owners of assets amounting to at least US$ 100,000,000 (one hundred
million US dollars) are required to submit quarterly
declarations.
Information relating to the year ended on December 31st, 2014,
must be provided until April 6th, 2015, through the declaration
form available at https://www3.bcb.gov.br/cbeInternet/.
Failure to comply with the obligations indicated above or the
provision of false, incomplete and incorrect information or outside
the terms and conditions provided in the regulation may subject the
party to penalties in the amount of up to R$ 250,000 (two hundred
and fifty thousand Reais) depending on the type of the
infraction.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.