Brazil (BR)

Jurisdiction Overview

IDQuestionAnswer
473 *BO Update: Is the update of information on the identity of beneficial owners mandatory? No, because bearer shares are available/circulating/not registered with a public authority (see below).
 Data Date: 2018

Notes

 
Normative Instruction 1863/2018, of Brazil's tax authority requires all registered information (including beneficial ownership) to be updated upon any change (Art. 24). However, given that there are still unregistered bearer shares (GF 2018: 36), the identity of the shareholders and beneficial owners can not be guaranteed.

Sources

http://normas.receita.fazenda.gov.br/sijut2consulta/link.action?visao=anotado&idAto=97729#1954228
 
Normative Instruction 1863/2018, Art. 3 and 8
 
GF 2018: 36, 45-47