A company formation agent in Brazil will be able to offer you valuable advice and support throughout the company formation process, helping you to establish your business in the shortest time possible while giving you peace of mind that you are in full compliance with local regulations.
Doing business in Brazil is known for the sometimes convoluted red tape that must be navigated, so engaging with a company formation agent can be a great way to tap into the knowledge of a provider who will be able to anticipate likely pitfalls you will encounter and help the process run smoothly.
Brazil is both the biggest country by area and largest economy in Latin America, earning it the nickname of “The Giant of South America.” It is also a major draw for foreign direct investment (FDI), with the $69.2 billion of inflows witnessed in 2020 representing the fourth-highest figure worldwide (all figures in USD).
A country of around 214 million people, as of 2021 Brazil is home to six cities with populations larger than two million people, with Sao Paulo (12.3 million) and Rio de Janeiro (6.8 million) the only cities to have populations in excess of three million people.
Brazil dominates South America geographically, with Ecuador and Chile being the only countries from the continent to not share a border with the country, and the $1.44 trillion it registered for gross domestic product (GDP) in 2020 was roughly equal to the combined GDPs of all other South American nations.
While the COVID-19 pandemic caused significant economic turmoil, denting the economy and overall prosperity in the country, Brazil is still a solidly upper-middle income nation by international standards, registering a gross national income (GNI) of $7,850 per capita in 2020.
The country is famed for its natural resources, which include major deposits of precious gems and metals and large reserves of oil. It is also known for being an important source of agricultural goods, and has significantly improved efficiency in the sector in recent years.
According to figures from the US Department of Agriculture (USDA) quoted by the Brazilian Ministry of Agriculture, Brazil saw the highest rate of growth in agricultural productivity worldwide between 2000 and 2019 and was second only to China when that period was extended back to 1961.
Brazil also has a well-established manufacturing sector, with automobiles, aircraft, electrical machinery, chemicals, and medicines among the many products that are produced and exported in high volumes from the country.
While manufacturing can be found in many urban areas, the metropolis of Sao Paulo is the primary hub for industrial production and presents some of the best investment opportunities given the city’s highly developed logistics in support of high-volume production and distribution. Should you be looking to enter the manufacturing sector, your company formation agent in Brazil may well recommend that you look to Sao Paulo, even if that was not your original intention.
Brazil also has a large services sector, which has grown significantly over the past decade to represent almost 63% of GDP in 2020 having contributed less than 58% in 2010. The professional services sector is also mainly concentrated in major urban centres, with the most important being Sao Paulo and Rio de Janeiro.
Investors also benefit from Brazil’s status as a founding member of the Southern Common Market (Mercosur) — a 30-year-old economic integration initiative that also includes Argentina, Paraguay, and Uruguay, and to which Bolivia is awaiting formal acceptance as a member.
Mercosur has a range of free trade agreements (FTAs) in place offering resident companies preferential access to key economies and is currently negotiating a deal with the European Union – the bloc’s biggest trading partner.
It is in the context of the major opportunities but sometimes tricky processes involved in doing business in the country that you may find it best to contract the services of a company formation agent in Brazil.
What support will a company formation agent in Brazil provide?
A good company formation agent in Brazil will have expert knowledge of the local business environment, and will have extensive experience handling the company formation process.
In the event you do not have a strong grasp of the country’s official language, Portuguese, you will ideally find a company formation agent in Brazil with a proven track record of working with foreign investors and who is able to speak English – or any other language you speak – with proficiency.
Because your company formation agent in Brazil will act as a buffer between yourself and local authorities, helping you to properly fill-in and submit all necessary documentation and complete all other processes as efficiently as possible.
Your company formation agent will also be able to provide advice based on your needs and their understanding of the market, such providers to work with and who to bank with.
Key benefits of working with an agent
Some key benefits of working with a company formation agent in Brazil include:
Time-effectiveness: Your company formation agent will oversee complex and time-consuming activities, including filling out forms, or drafting and legalizing documents. With a proven history of undertaking such tasks, they will be completed in the shortest time possible.
Regulatory advice: A company formation agent in Brazil will have a firm understanding of the legislation and regulations that you and your business will need to adhere to, both during the incorporation process and throughout your operations, and will be able to offer advice on the likes of which type of entity best suits your needs.
Good communication: If you do not speak Portuguese, you will want to hire a company formation agent who speaks a language that you are proficient in. While English will be the most widespread second language for doing business, there are notable populations of German, Italian, and Spanish speakers.
Legal representation: A company formation agent is trained to represent you and your company before public regulatory entities, protecting your commercial interests and preserving the good reputation of your business.
Ongoing support: If you choose a provider of company formation agent services that also offers other ongoing business support, such as accounting, recruitment, or corporate legal services, you will be able to call on them for ongoing assistance after the incorporation process has been completed.
Biz latin Hub can be your company formation agent in Brazil
At Biz Latin Hub, our multilingual team of company formation experts has extensive experience supporting foreign investors entering and doing business in Brazil.
We offer tailored packages of back-office services to suit every need, based on a portfolio that includes accounting & taxation, company formation, corporate legal services, due diligence, and hiring & PEO, among others.
That means that as well as acting as your company formation agent in Brazil, we can also provide ongoing support.
As well as Brazil, we have offices in 15 other markets around Latin America and the Caribbean, meaning we are ideally placed to support multi-jurisdiction market entry and operations.
Contact us today to find out more about how we can support you doing business in Brazil
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