On 25 November 2o22, BRZ CB issued provisions for equity and branches abroad.
- BRZ CB published Resolution 5.043 governing supervised institutions' shareholdings.
Equity Held Abroad
- Covers filing requests with BRZ CB for equity interest or for branch installation abroad.
- Also, equity participation in companies headquartered in countries with tax benefits.
- Allows direct/indirect control via partner group and investment fund indirect control.
- Applies to control or equity interest equal or greater 20% of the voting or total share capital in the entity abroad and requires transparency re foreign regulatory requests.
- Revokes BRZ CB Resolution 2.723 (31 May 2000), Resolution 4.062 (29 March 2012).
- In addition, Resolution 4.403 (26 March 2015) and Resolution 4.777 (29 January 2020).
Effectiveness
- This resolution takes effect on 1 January 2023.
