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Flavio Picchi
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FOREIGN CAPITAL IN BRAZIL - 2011 CENSUS
Dear colleagues,

Brazilian Central Bank ("BCB") has announced the Foreign Capital Census ("FCC") related to the year 2010, based on Circular No. 3,559, dated as of September 19, 2011, to be completed until November 1st, 2011. FCC is conducted periodically to collect statistical information in order to provide subsidies for the formulation of economic policies.

According to the regulations, legal entities headquartered in Brazil are required to provide information to FCC in the following cases:

(a) if, on December 31, 2010, any non-residents had a direct participation in their capital; or

(b) if, on December 31, 2010, they were (i) debtors of credits granted by non-residents, and (ii) the corresponding debt amount was equivalent to at least US$1,000,000 (one million United States Dollars). Among such credits are included long and short-term commercial credits.

Investment funds with non-resident investors shall inform, through their managers, the total amount of their assets and the participation of non-residents in the fund, indicating the non-residents that individually held a participation of at least 10% in the fund on December 31, 2010.

The party responsible for providing the information shall retain the related documentation for 5 (five) years, as from the base date.

Failure to present such information to BCB, or presentation of incomplete or false information may subject the company to a penalty of up to R$ 250,000.00, as provided for in Resolution No. 2,883, of the National Monetary Council, dated as of August 30, 2001.

Do not hesitate to contact us should you or your client need to comply with information due or their updates. We are at your entire disposal and will be pleased to provide any further clarifications on these matters and support both Brazilian companies and their foreign holding entities with necessary registrations and corporate actions.

Yours truly,

Flavio Augusto Picchi
Polli Rodrigues & Picchi Advogados
Avenida Paulista nº 2.202 - conjunto 173
01310-923 São Paulo, SP Brasil
T/F.: +55 (11) 3284-8110
flavio.picchi@prp.adv.br
http://www.prp.adv.br
- 28 Oct 2011, 5:46 pm
Flavio Picchi wrote: > Dear colleagues, > > Brazilian Central Bank ("BCB") has announced the Foreign Capital > Census ("FCC") related to the year 2010, based on Circular No. 3,559, > dated as of September 19, 2011, to be completed until November 1st, > 2011. FCC is conducted periodically to collect statistical > information in order to provide subsidies for the formulation of > economic policies. > > According to the regulations, legal entities headquartered in Brazil > are required to provide information to FCC in the following cases: > > (a) if, on December 31, 2010, any non-residents had a direct > participation in their capital; or > > (b) if, on December 31, 2010, they were (i) debtors of credits > granted by non-residents, and (ii) the corresponding debt amount was > equivalent to at least US$1,000,000 (one million United States > Dollars). Among such credits are included long and short-term > commercial credits. > > Investment funds with non-resident investors shall inform, through > their managers, the total amount of their assets and the > participation of non-residents in the fund, indicating the > non-residents that individually held a participation of at least 10% > in the fund on December 31, 2010. > > The party responsible for providing the information shall retain the > related documentation for 5 (five) years, as from the base date. > > Failure to present such information to BCB, or presentation of > incomplete or false information may subject the company to a penalty > of up to R$ 250,000.00, as provided for in Resolution No. 2,883, of > the National Monetary Council, dated as of August 30, 2001. > > Do not hesitate to contact us should you or your client need to > comply with information due or their updates. We are at your entire > disposal and will be pleased to provide any further clarifications on > these matters and support both Brazilian companies and their foreign > holding entities with necessary registrations and corporate actions. > > Yours truly, > > Flavio Augusto Picchi > Polli Rodrigues & Picchi Advogados > Avenida Paulista nº 2.202 - conjunto 173 > 01310-923 São Paulo, SP Brasil > T/F.: +55 (11) 3284-8110 > flavio.picchi@prp.adv.br > http://www.prp.adv.br

NEGOCIOS DE LATINOAMERICA

FOREIGN CAPITAL IN BRAZIL - 2011 CENSUS