"Bringing forth results, not only repor ts” Establishing a Business in Bra zil
Doing Business in Brazil: How to open a business in Brazil with foreign capital
Jul 09, 2015
In this presentation you have a step by step guide to establish your company in Brazil.
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"Bringing forth results, not only reports”
Establishing a Business in Brazil
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
Some Considerations Before We Get Started:
• Opening a business in Brazil isn’t a task for amateurs,but for professionals
• It is a time consuming process
• It is a bureaucratic process
• You will have to get all the right stamps, papers and will have to be used to sign papers
• You will need local expertise from a lawyer and (or) and accountant.
• In the example I’m going to use I’m assuming you will kickstart the process with a lawyer or an
accountant. You will see why…
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#1. Phase 1
Company Bylaws( Estatuto Social)
Consularization in country of originGo To Notary Public in the country
of origin
Process Happens simultaneously
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#1. Phase 1
Consularization in country of originGo To Notary Public in the country
of origin
Appoint a Legal Representative in
Brazil
Lawyer AccountantForeign Citizen
Brazilian Citizen
The Legal Rep Chosen must own Permit to Live in Brazil
Grant Power of Attorney to Legal rep
in BR
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#2. Phase 2
Send Bylaws and Power of Attorney to
Legal Rep in Brazil
Documents taken to Sworn Translation
Then Documents Are taken to Cartório Similar to Notary
Public
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#2. Phase 2
Define type of Business entity to establish in Brazil
LTDA is the most common form.
Similar to theLLC or Aps in Denmark
One Foreign company and one foreing individual
Two Natural Individuals
One foreing company and one Brazilian Individual
Options of partnership
In all cases there must be a legal representative residing in Brazil
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#2. Phase 2
Company Name
Company Activity
Capital StockCompany
Adress
In the Elaboration of the Social Contract the following items are HIGHLIGHTED
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#2. Phase 2
Minimum for the establishement of a LLC in Brazil are two partners
THERE MUST BE A LEGAL REPRESENTATIVE RESIDING IN BRAZIL AND THEREFORE WITH THE RIGHTS TO LIVE IN BRAZIL
In the Elaboration of the social contract special attention should be given to the following
items:
Company NameCompany Activity
Capital Stock Company Adress
Fact
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#3. Phase 3
Define with the Legal Representative the
contractual clauses for the elaboration of the
Social Contract
Obtain documents and permits in governmental
agencies
Odense- November 2014
#3. Phase 3
Open a Bank Account
Send Funds to Brazilian company
through the Brazilian Central Bank
Establishing a Business in Brazil with Foreign Capital
Find a Suitable Location for Office.
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#4. Phase 4
If your Brazilian company will have to import or export you will need to apply for a license known as RADAR
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
#5. Phase 5
If applied, once the other phases are accomplished you will apply to obtain Work Visas for the investor
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
Check List
Consularization of company Bylaws
Notary Public in the country of origin
Appoint Legal Representative in Brazil
Grant Power of attorney to legal representative
Choose between Lawyer,Accountant, foreigner or National ( Must Have Permit
Phase 1 Phase 2
Send Documents do Legal Rep
Send Documents for Sworn Translation
Go to Cartorio ( Notary Public ) with documents
Define business entity to establish
Phase 3
Define with legal Representative contractual clauses
Kickstart the process of incorporation
Obtain documents and records from governmental agencies
Open Bank account
Find suitable location for office
Start Hiring employees
Phase 4
Apply for Import/Export Licenses
Phase 5
Apply for work visas if and when applied
40 DaysEstimate
30 DaysEstimate
30 DaysEstimate
40 DaysEstimate
Not Defined
Odense- November 2014
Establishing a Business in Brazil with Foreign Capital
Consularization of company Bylaws
Notary Public in the country of origin
Appoint Legal Representative in Brazil
Grant Power of attorney to legal representative
Choose between Lawyer,Accountant, foreigner or National ( Must Have Permit
Phase 1 Phase 2
Send Documents do Legal Rep
Send Documents for Sworn Translation
Go to Cartorio ( Notary Public ) with documents
Define business entity to establish
Phase 3
Define with legal Representative contractual clauses
Kickstart the process of incorporation
Obtain documents and records from governmental agencies
Open Bank account
Find suitable location for office
Start Hiring employees
Phase 4
Apply for Import/Export Licenses
Phase 5
Apply for work visas if and when applied
40 DaysEstimate
30 DaysEstimate
30 DaysEstimate
40 DaysEstimate
Not Defined
THANK YOU!
"Bringing forth results, not only reports”
WWW.BIASSA.COM | CARLOS MONTEIRO | [email protected]
PARTNER
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