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Brazilian Statement of Foreign Assets

25/03/2020

Due to COVID-19 pandemic, the Brazilian Central Bank decided to postpone the submission deadline for Brazilian Statement of Foreign Assets (the so called “DCBE”), according to Circular 3,995 of 2020.

The annual statement, which provides the position of foreign assets as of 12/31/2019, had its deadline extended to 6/1/2020 and the quarterly declaration, which provides the position of foreign assets as of 3/31/2020 must be submitted between 6/15 and 7/15/2020.

According to the note published by Brazilian Central Bank, the pandemic had an impact on the ability of declarants to gather the necessary information regarding their assets abroad, such as the temporary closure of public services and companies in several countries.

Please note that the Brazilian Statement of Foreign Assets is mandatory for individuals or legal entities resident, domiciled or headquartered in Brazil, who holds abroad total assets equal to or greater than (i) US$ 100,000.00 on December 31, 2019 (for Annual DCBE) and (ii) US$ 100,000,000 as of March 31, June 30 and September 30 of each year base (for the Quarterly DCBE).

Please let us know if you have any further questions.

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