Resolution No. 14 of October 23, 2006 - Revoked by Resolution No. 26/2013

Published on 17/09/2020 14:37 Modified on 16/12/2020 15:35

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Revokes Resolution No. 001/99 and establishes the procedures to be observed by legal entities that carry out real estate promotion or purchase and sale activities.

The President of the Financial Activities Control Council – COAF, using the authority granted by item IV of Article 9 of the Statute approved by Decree No. 2,799, of October 8, 1998, makes it public that the Plenary of the Council, in a session held on August 29, 2006, based on § 1 of Article 14 of Law No. 9,613, of March 3, 1998, resolved:

Section I
Preliminary Provisions

Article 1. With the objective of preventing and combating the crimes of “money laundering” or concealment of assets, rights, and values, as established in Law No. 9,613, of March 3, 1998, regulated by Decree No. 2,799, of October 8, 1998, legal entities that carry out real estate promotion or purchase and sale activities must observe the provisions contained in this Resolution.

Sole Paragraph. Included in the provisions of this Resolution, among others, are the following legal entities that carry out real estate promotion or purchase and sale activities on a permanent or occasional basis, as a main or ancillary activity, cumulatively or not:

I. Construction companies;

II. Developers;

III. Real estate agencies;

IV. Land subdividers;

V. Real estate auctioneers;

VI. Real estate administrators; and

VII. Housing cooperatives.

Section II
Client Identification and Record Keeping

Article 2. The entities mentioned in the sole paragraph of Article 1 must register and keep their records updated with COAF, providing the following information:

I. corporate name and trade name (legal name);

II. registration number with the National Registry of Legal Entities – CNPJ;

III. complete address (street, complement, neighborhood, city, Federative Unit, and ZIP code), including electronic and telephone contacts; and

IV. identification of the person responsible for compliance with the regulations set forth in this Resolution.

Article 3. The legal entities mentioned in the sole paragraph of Article 1 must identify and keep updated records, in accordance with this Resolution, of their clients and all intervening parties (buyers, sellers, their spouses or partners, administrators or controllers, when it is a legal entity, attorneys, legal representatives, brokers, lawyers, or any other participant in the transaction, when applicable).

Article 4. The records of clients and intervening parties must contain, at a minimum, the following information:

I – if a legal entity:

a) corporate name and trade name (legal name);

b) registration number with the National Registry of Legal Entities – CNPJ;

c) complete address (street, complement, neighborhood, city, Federative Unit, and ZIP code), including electronic and telephone contacts, if applicable;

d) main activity developed; and

e) name and CPF (Individual Taxpayer Registry) of administrators, owners, controllers, attorneys, and legal representatives.

II – if a natural person:

a) name, sex, date of birth, parentage, place of birth, nationality, marital status, and name of spouse or partner, if applicable;

b) complete address (street, complement, neighborhood, city, Federative Unit, and ZIP code), including electronic and telephone contacts, if applicable;

c) registration number with the Individual Taxpayer Registry – CPF;

d) identification document number, issuing authority, and date of issuance, or passport or civil ID data, if foreign; and

e) main activity developed.

Sole Paragraph. If the company’s controller is a legal entity, the registration information must cover the natural persons who effectively control it, and, if the controller is a foreign legal entity, the resident agent in Brazil.

Section III
Transaction Records

Article 5. The entities mentioned in the sole paragraph of Article 1 must maintain records of all real estate transactions equal to or greater than R$ 100,000.00 (one hundred thousand reais).

Article 6. The transaction record must contain, at a minimum, the following information:

I – regarding property identification:

a) description and complete address of the property; and

b) registration number and date of registration at the real estate registry office.

II – regarding real estate transaction identification:

a) transaction date;

b) transaction value;

c) payment conditions: record whether payment was made in cash, on credit, or financed; and

d) payment method: specify whether the operation was carried out, among others, in cash, by check, or by bank transfer. In these cases, the obligated parties must specify the bank involved, the branch, the account, the check number, or any other payment instrument used with its respective essential data.

Sole Paragraph. The entities mentioned in the sole paragraph of Article 1 must develop and implement internal control procedures to detect operations that may contain indications of the crimes covered by Law No. 9,613, of 1998.

Section IV
Operations

Article 7. The entities mentioned in the sole paragraph of Article 1 shall pay special attention to operations or proposals that may constitute indications of the crimes provided for in Law No. 9,613, of 1998, or that relate to them.

Section V
Communications to COAF

Article 8. The entities mentioned in the sole paragraph of Article 1 must communicate to COAF, within twenty-four hours, refraining from informing clients of such action, the proposal or execution of transactions:

I. covered by Article 7, and/or;

II. covered by the annex of this Resolution.

Sole Paragraph. The entities mentioned in the sole paragraph of Article 1 that, during the civil semester, have not made communications as set forth in the caput of this article, must declare to COAF the non-occurrence of such transactions or proposals, within 30 days after the end of the respective semester.

Article 9. Communications made in good faith, as provided for in § 2 of Article 11 of Law No. 9,613, of 1998, will not entail civil or administrative liability.

Article 10. Communications must be sent via an electronic form available on the COAF website (http://coaf.fazenda.gov.br), or, in the event of impossibility, by any other means that preserve the confidentiality of the information.

Section VI
General and Final Provisions

Article 11. The records and registers provided for in this Resolution must be preserved by the entities mentioned in the sole paragraph of Article 1, for a minimum period of five years from the date of the transaction’s execution.

Article 12. The entities mentioned in the sole paragraph of Article 1 must comply, at any time, with information requests made by COAF.

Sole Paragraph: Information provided to COAF will be classified as confidential in accordance with § 1 of Article 23 of Law No. 8,159, of January 8, 1991.

Article 13. The entities mentioned in the sole paragraph of Article 1, as well as their administrators, who fail to comply with the obligations of this Resolution, will be subject, cumulatively or not, by COAF, to the sanctions provided for in Article 12 of Law No. 9,613, of 1998, as set forth in Decree No. 2,799, of 1998, and in the Ordinance of the Minister of State for Finance No. 330, of December 18, 1998.

Article 14. The President of COAF is authorized to issue complementary instructions for this Resolution, especially regarding the provisions contained in Section V – Communications to COAF.

Article 15. This Resolution enters into force on the date of its publication, producing effects thirty (30) days after its publication.

Article 16. Provisions to the contrary are revoked, especially Resolution COAF No. 001, of April 13, 1999.

Brasília, October 23, 2006.

Antonio Gustavo Rodrigues
PRESIDENT

Annex

1. real estate transaction whose payment or receipt, equal to or greater than R$ 100,000.00 (one hundred thousand reais), is made by third parties;

2. real estate transaction whose payment, equal to or greater than R$ 100,000.00 (one hundred thousand reais), is made with resources from diverse origins (checks from various places and/or from various issuers) or of various natures;

3. real estate transaction whose payment, equal to or greater than R$ 100,000.00 (one hundred thousand reais), is made in cash;

4. real estate transaction or proposal, equal to or greater than R$ 100,000.00 (one hundred thousand reais), whose buyer was previously the owner of the same property;

5. real estate transaction whose payment, equal to or greater than R$ 100,000.00 (one hundred thousand reais), especially those originating from tax havens, was made through the transfer of resources from abroad. The list of countries considered tax havens is contained in Normative Instruction SRF No. 188, of August 6, 2002 (http://www.receita.fazenda.gov.br);

6. real estate transaction whose payment, equal to or greater than R$ 100,000.00 (one hundred thousand reais), is made by persons domiciled in border cities;

7. real estate transactions with values lower than the limits established in items 1 to 6 of this annex that, due to their habitual nature and form, may constitute a scheme to circumvent the aforementioned limits;

8. real estate transactions with apparent overpricing or underpricing of the property value;

9. real estate transactions or proposals that, due to their characteristics, regarding the parties involved, values, manner of execution, instruments used, or lack of economic or legal basis, may constitute indications of crime;

10. real estate transaction incompatible with the patrimony, economic activity, or presumed financial capacity of the acquirers;

11. acting in a manner to induce those responsible for the transaction not to keep records of the transaction executed; and

12. resistance to facilitating the information necessary for the formalization of the real estate transaction or registration, offering false information, or providing information that is difficult or costly to verify.

Published in the Official Gazette of the Union on 25/10/2006