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The introduction of control of foreign capital and foreign companies in Brazil – such as the requirement, by the Central Bank of Brazil, of compliance of the terms of the RDE-IED (Electronic Registration Statement - Direct Foreign Investment) and the maximum term to submit all documentation related to said companies, - said term expired on August 31st., 2002 -, and with the later requirement of registration at the CNPJ (National File of Legal Entities) of foreign companies and the appointment of their controllers, representatives in Brazil, their registration of incoming capital, corporate documents and paid for capital, plus the effective survey of the company's conditions, monitoring of the activities and strict audit relative to the flux and reflux of capital – resulted in the present situation of non-finance default of thousand of Brazilian companies with such foreign frames in their shareholding participation, for due to the uncertainty of their documentation, indulged up to that moment, or due to the origin of their files in non-sovereign tax platforms (Off-Shore companies with their head offices located in tax havens and Uruguayan SAFIs), these Brazilian companies are n a total standstill, for they may not perform any corporate change, capital increase, amendment of their bylaws, alienation or purchase of real estate properties, amalgamation and/or fusion of companies, and they may not even update their files before the banks with which they operate, and may not obtain financings, etc.
Global-Dardanus Corporation Gestion de Fortune proposes, in Brazil, to help attorneys-at-law, advisors and other national professionals to audit foreign frames with the participation in Brazilian companies, either as controlling companies or minority partners, adapting their international and domestic performance to the requirements of the new compliance laws, which will allow the regularization of their files before Brazilian and international authorities.
Once the regularization is concluded, Global-Dardanus Corporation will issue the Due Diligence Trustee Report, which will allow the legalization of the international banking operations, a sine qua non conditions for the transparence and file of the operations.
From the joint responsibility of professionals of the legal and financial advising area to the fight against money laundering: Measures that should be taken by Financial Institutions, Non Financial Activities and Professions to avoid the money laundering and the financing of illegal activities.
"Money laundering methods and techniques change in response to developing counter-measures. In recent years, the Financial Action Task Force (FATF) has noted increasingly sophisticated combinations of techniques, such as the increased use of legal persons to disguise the true ownership and control of illegal proceeds, and an increased use of professionals to provide advice and assistance in laundering criminal funds."
In: FATF-GAFI, Financial Action Task Force on Money Laundering. "40 Recommendations", June 20th., 2003.
The FATF (Financial Action Task Force) is an inter-governmental body which sets standards, and develops and promotes policies to combat money laundering and illicit financing. The FATF was created in 1989 in the G7 meeting held in Paris, and it as published, since 1990, a list of Recommendations that should be worldwide followed by the countries and institutions in the fight against money laundering.
The countries, members of the international community, the financial and non-financial companies that act in the legal consulting and advising area are considered as parties that cooperate in this fight, when following the recommendations of this agency.
Brazil adopted lately the directives established by GAFI, being even considered as a non-cooperating country in 1999, forcing the creation of control systems for flux of capital and other measures such as the institution of the RED-IED (Electronic Registration Statement - Direct Foreign Investment) by the Central Bank, and the requirement of identification and permanent registration of foreign companies established in the country by the Federal Revenue System, through their Normative Instructions Nr. 167, of June 14th., 2002 and Nr. 200, of September 13th., 2002 and similar ones.
presently, the Brazilian Federal Revenue System as constituted a task force, with qualified personnel, in order to comply with the new international standards of Due Diligence, following strictly the recommendations of the Financial Action Task Force. One of the main functions of said task force, to assure the entering of Brazil in the global control of flux of capital is the pledge of constant vigilance and adaptation of private and public financial and non-financial companies to the international compliance standards.
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