Brazil: Annual shareholders meeting for consolidated accounts approval

published on february 28, 2019 | reading time approx. 2 minutes

 

According to Article 1078 of Brazilian Civil Code and Articles 132 and 133 of the Brazilian Corporate Law (L. 6.404/76), the  Shareholders must hold, at least once a year, a General Meeting, within the four months subsequent to the ending of the fiscal year, in order to deliberate over the following matters:

 

   

  • To examine the accounts rendered by the General Manager and to examine, discuss and vote the financial statements;
  • To decide on the allocation of net profits from the preceding financial year and on the distribution of dividends;
  • To elect the officers and the members of the audit committee, if any.

  

Therefore, it is mandatory for Corporations and Limited Liability Companies to file at the Board of Trade the Minutes of the General Shareholders Meeting to deliberate on the consolidated accounts of 2018 until April 30th 2019.


Central bank foreign direct investment (RDE-IED)

According to the Central Bank of Brazil Regulations nr. 3.814/2016 and 3.822/2017, all companies that are Foreign Direct Investment recipients (which have foreign quotaholders), with assets or net equity equal or lower than R$ 250.000.000,00 shall, up to April 1st, update the information regarding the amount of net equity and paid-up capital, as well as the amount of paid-up capital by each foreign investor, as to the reference date of December 31st of the previous year, before the Foreign Direct Investment System of the Electronic Declaratory Registry of the Central Bank Information System –“Sisbacen”.
  
Also the entities recipient of foreign direct investment with assets or net equity equal or higher than R$ 250.000.000,00 (two hundred and fifty million reais), shall file four (4) economic-financial statements per year, in the following dates:

 

  • As to the reference date of March 31st, it shall be filed up to May 31st;
  • As to the reference date of June 30th, it shall be filed up to August 31st;
  • As to the reference date of September, it shall be filed up to November 30th;
  • As to the reference date of December it shall be filed up to February 28th of the following year.
      

We would like to inform you that the Rödl & Partner Paralegal Department makes available to all clients the services of:

 

  • Prepare and registry before the Board of Trade of the Annual Shareholders Meeting and
  • Updating of economic and financial information based on the year ended December 31st, 2018 before the Brazilian Central Bank.

 

 Contact

Michael Löb

+55 11 5094 6060

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