Declaration of Capital Brazilians Abroad – CBE

Individuals or legal entities resident or with tax domicile in Brazil and that possess assets and rights abroad must complete the Declaration of Brazilians Capital Abroad.

1 – Obligation to presentation of the declaration

It’s an obligation to hand over the CBE to the Central Bank of Brazil all individuals residing in the country who had assets and rights abroad, that is, outside national territory, the sum of which is equal or exceeding US$ 100,000.00 (one hundred thousand dollars) on December 31, 2019. ALso, whoever owns assets and rights abroad in an amount equal to or exceeding US$ 100,000,000.00 (one hundred million dollars) is expected to deliver the CBE on a three-months basis.

2 – Deadline

The delivery time is from February 17th, 2020 until 6 pm on April 6th, 2020.

3 – Correction of the declaration

It is possible to rectify the declaration without incidence of penalties until 6 pm on June 5th, 2020.

4 – Penalties

CBE does not have a collection character. However, failure to provide information required by the Central Bank of Brazil, as well as the provision of false, incomplete information, incorrect or out of time and conditions provided for in the regulations, imply a fine that can reach R$ 250,000.00, according to art.1 of MP 2,224 / 2001.

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