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Declaration of Assets held Abroad by Individuals and Entities Resident and Domiciled in Brazil (“CBE”)

04/09/2020

1. A reminder that in compliance with the National Monetary Council’s Resolution (“Resolução”) No. 3,854, of May 27, 2010 and the Brazilian Central Bank’s Ruling (“Circular”) No. 3,624, of February 06, 2013, the individuals and legal entities resident, domiciled or with headquarters in Brazil are obliged to declare to the Central Bank the assets and rights that they held outside Brazil on the reference-date of June 30, 2020, in the amount equivalent to or exceeding US$100,000,000.00 (one hundred million US Dollars) (or the equivalent in other currencies) by September 8, 2020 (Tuesday). The individuals or entities who fail to comply with this obligations might be subject to the applicable administrative penalties, which include fine of up to BRL125,000.00.
 
2. In case the total amount of the assets and rights held abroad on each relevant reference-date is lower than the amounts mentioned above, the obligation to present the declaration to the Central Bank does not apply.
 
3. The following types of assets held abroad shall be declared to the Central Bank:
 
a. bank deposits;
 
b. loans;
 
c. financing transactions (of export of goods and/or services);
 
d. leasing;
 
e. direct investments;
 
f. portfolio investments;
 
g. financial derivatives investments; and
 
h. other investments, including real estate and other assets.

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