Recent changes in Brazilian legislation could have a direct impact on the operations of companiesoffshores. Among the changes, the National Council of Justice has amended its rules to improve the detection of suspicious activities.
Now, notary and registry services must report to COAF any operation that could be a sign of money laundering, terrorist financing or a related offense.
In practice, this means that, as of May 2, any transaction subject to distribution and/or registration in extrajudicial notary offices that involves offshore companies will be subject to investigation by COAF.
Find out more about the changes in the article by Leonardo Cotta Pereira, the firm’s head of corporate law, published by Estadão. Click here to read the full article.
