ANNOUNCED AS TEMPORARYNo
FDI: Entry and ownership rule
On November 24, 2016, the Central Bank of Brazil issued Resolution 4533/2016 simplifying the registration of FDI. The new legislation states that the Brazilian recipient is the only responsible party for the registration, thus eliminating the previous requirements imposed on foreigners who needed a local representative to perform the registration of the investment.
Another introduced change is the establishment of a simplified financial statement for companies with assets or net worth equal to or greater than USD 75.5 million (BRL 250 million). With this new requirement, the Government seeks to improve the collection of data for the compilation of the Balance of Payments by the Central Bank.
These modifications are to be implemented starting on January 30, 2017.
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