Whether you're considering expanding into Latin America, or you already have a presence in the region and want to move into a new market, Brazil is an attractive country to consider. As well as being home to the largest workforce, Brazil boasts the highest GDP in Latin America and the ninth most prosperous economy in the world.
Many label Brazil 'the country of the future.' With several high-tech business hubs in key cities such as São Paulo, investment and innovation in Brazil work together hand in hand. With significant opportunities in industries such as construction, infrastructure, finance, technology, energy, oil, care, and housing, few businesses would struggle to succeed with the right strategy. Understanding key corporate compliance regulations will get your business started on the right foot.
According to Brazil's Companies Act, new companies must have at least one director and two shareholders. These people can be of any nationality, demonstrating a push from Brazil to encourage FDI. Currently, there is no minimum share capital requirement when incorporating a Brazilian Limited Liability Company. This simplifies the incorporation process and makes it easier for investors to get started. Private companies in Brazil must identify and maintain a local registered address when operating. Foreign companies must appoint a Brazilian legal representative to act as a sponsor during incorporation.
Below, we offer an introduction to business compliance in Brazil, pulling together important legal and accounting information for businesses looking to expand into the territory. For more information and a customized corporate compliance strategy, contact our Brazil team today.
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