CMN Resolution No. 4712 — Amending Resolution No. 3,844 of March 23, 2010, Regarding Foreign Capital in the Country and Its Registration at the Central Bank of Brazil

The Central Bank of Brazil, pursuant to Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on March 28, 2019, based on Articles 4, items V and XXXI, and 57 of the aforementioned Law, Law No. 4,131 of September 3, 1962, Article 65, § 2 of Law No. 9,069 of June 29, 1995, and Article 5, § 5 of Law No. 11,371 of November 28, 2006,

R E S O L V E S:

Article 1. The Regulation Annex II to Resolution No. 3,844 of March 23, 2010, shall enter into force with the following amendments:

“Article 4. Those responsible for the registration referred to in this Regulation, as applicable, are the external resource borrower, the importer, and the lessee.” (NR)

“Article 4-A. The external resource borrower, the importer, and the lessee may appoint, as attorneys, natural or legal persons authorized to include, consult, and update the registration.

§ 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil may include and alter attorneys provided they are duly authorized by the external resource borrower, the importer, and the lessee.

......” (NR)

“Article 18. In the event that the shipment of goods or the provision of services referred to in Article 17 does not occur, the return of resources that entered the country in accordance with this section to the exterior is permitted, including by the guarantor of the operation, or the transfer of the corresponding registration to the foreign direct investment or external loan modalities.” (NR)

“Article 19-A. Financing by international organizations, as well as other external financing or refinancing, are also subject to registration under the terms of this Regulation.” (NR)

Article 2. The Regulation Annex III to Resolution No. 3,844 of 2010, shall enter into force with the following amendments:

“Article 1. ......

......

IV - lease and charter, with a term exceeding 360 (three hundred and sixty) days.

......” (NR)

“Article 3. The registration of contracts for the use or licensing of patents, industrial or commercial trademarks, technology supply, and other contracts of the same kind, as well as contracts for technical assistance services and franchising, must only be carried out after the annotation or registration of the contract at the National Institute of Industrial Property (INPI).

Sole Paragraph. Complementary technical services and expenses linked to the operations described in the caput of this article are also subject to registration, even if not subject to INPI annotation or registration.” (NR)

Article 3. The sole paragraph of Article 6 and Article 7 of the Regulation Annex IV to Resolution No. 3,844 of 2010 are revoked.

Article 4. This Resolution enters into force on July 1, 2019.

Roberto de Oliveira Campos Neto
President of the Central Bank of Brazil