The deadline for the submission of DEF 2020 fourth quarter ends on March 31st, 2021 (Wednesday). The DEF, with effective date on December 31st, 2020, as well as the annual update of the corporate structure, must be submitted through the Electronic Declaratory Registration System – Foreign Direct Investment (RDE-IED) of BACEN.

Brazilian companies with foreign direct investments – being the stockholders either individuals or companies – with assets or net equity equal to or above BRL 250,000,000.00 (two hundred and fifty million Reais) are required to complete and submit the DEF to BACEN, as well as inform the origin of such investments, and update the information on the corporate structure.

Brazilian companies with direct foreign investments, with assets or net equity under BRL 250,000,000.00 (two hundred and fifty million Reais), are exempted from completing the quarterly DEF. However, the annual update of the corporate structure, based on the economic and financial information dated December 31st, 2020, must be filled-in and submitted in the RDE-IED’s system until March 31, 2021.

Foreign investors also need to complete and submit certain pieces of information to BACEN, such as, but not limited to, the paid-up capital, their percentage related to the voting rights in the Brazilian company, the country of the investor, and the country of its parent company.

Our Corporate|M&A team is available to assist with the submissions of the statements before BACEN and also to clarify any issue regarding this matter.

Yours sincerely,

Corporate | M&A