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Mitigate Your Business Risks with Due Diligence in Brazil

by Legal Team Brazil | Jun 13, 2020

Understand how to manage your business risks with due diligence in Brazil. Brazil's favourable conditions for doing business and consumer market size attract many multinational companies looking to expand into Latin America. Brazil has several legal peculiarities that impact companies' way of doing business that they must be aware of. Additionally, it is important for companies to accurately understand and make informed decisions on the level of risk they face when engaging new partners or contacts, buying existing companies and assets, and hiring staff. In order to invest in a pre-existing company in Brazil, the investor should carry out comprehensive due diligence in Brazil. This means clarifying the legal and financial health of the company, among others. When should I carry out due diligence in Brazil? The purpose of due diligence is to help business owners understand any applicable risks to business activity and make informed decisions about those risks. The purpose of due diligence practices is to help business owners and decision-makers understand any applicable risks to business activity and make informed decisions about those risks that align with the best interests of the company. Executives may choose to undertake certain due diligence processes in Brazil when: Purchasing an existing companyPurchasing company assetsHiring specialized or senior staffPartnering with or contracting an unfamiliar agencyForming other key working relationships with individuals or organizations. Due diligence practices analyze relevant legal, financial, and background information in...

Opportunities for Fintech Business in Guatemala

by Legal Team Guatemala | Jun 3, 2020

Opportunities for Fintech business in Guatemala are growing as the country has seen a significant increase in Fintech start-ups and operational companies. Guatemala is one of the most popular countries in Central America to start your business in. In Latin America, the biggest Fintech countries Mexico with 238 start-ups, Brazil with 219, Colombia with 124, Chile with 75, Argentina with 60, Perú with 47 and Ecuador with 31. Guatemala still offers many niches for Fintech start-ups. Gain insight into the opportunities for the Fintech business in Guatemala. Find out about opportunities for fintech business in Guatemala, an up and coming economy in Central America. A breakdown of Fintech in Guatemala The function of these financial companies is to offer more dynamic tools: fast money transfers, loans, purchase and sale of properties, investments, and financial advice. Fintech, also known as “Financial Technology”, refers to all companies that offer banking or financial products and services adapted to modern technology to provide more efficient services to all users. The greatest strength of fintech companies is that they offer a business model focused on existing and new clients. The function of these financial companies is to offer more dynamic tools: fast money transfers, loans, purchase and sale of properties, investments, and financial advice. This guarantees a simpler process for the user and a reduction in costs for the company through virtual processes. Some emerging fintech segments in Guatemala include: Payment and remittanceBusiness financial...

Manage your Business Risks with Due Diligence in Guatemala

by Team Central America | May 17, 2020

When doing business in Guatemala, managing your business’ risks with due diligence practices is essential to its success and longevity.Language and/or cultural barriers, understanding the market and the way of handling businesses are challenges that foreign business owners face when expanding abroad. Buying existing companies or partnering with locals are key ways to reduce these challenges and get support navigating an unfamiliar market. However, it’s imperative to protect yourself when undertaking either of these processes by conducting thorough due diligence checks in Guatemala of the companies and people you will surround yourself with.Find out more about due diligence in Guatemala and how to manage your business risks. What is due diligence in Guatemala? Due diligence refers to the process of thoroughly reviewing and analyzing available information of a company. Due diligence refers to the process of thoroughly reviewing and analyzing available information of a company. The focus of this analysis is primarily set on economic, legal, tax and financial circumstances of a company. What is the purpose of due diligence? The general purpose of due diligence is to conduct a risk assessment as part of the process of buying a company, hiring new staff or partnering with other organizations. However, conducting due diligence in Guatemala brings more advantages.The main objectives of a due diligence analysis are: Reduction of information asymmetries between buyer and sellerEstablishing a basis of trust between buyer and seller through transparencyAnalysis of...

Meet Julián Arrayago, Corporate Accountant in Chile

by Accounting Team Chile | May 15, 2020

Meet Julián Arrayago, Biz Latin Hub’s Senior Corporate Accountant in Chile. In this role, he works to professionally support our clients with the delivery of the highest quality accounting services in Chile, one of our largest and dynamic offices in Latin America. Julián Arrayago, Biz Latin Hub’s Corporate Accountant in Chile. About Julían, our Senior Corporate Accountant in Chile Before joining Biz Latin Hub as a Corporate Accountant in Chile, Julián Arrayago worked in accountancy roles for multiple and distinguished companies across Latin America. With more than 10 years of experience, Julián has cultivated an outstanding ability to identify the needs of his clients and provide competent advice to implement effective solutions for the good maintenance of companies. Julián graduated as an Accountant from the José Antonio Páez University and holds a Diploma in Business Logistics Management and Supply Chain from the same institution. He was born in Venezuela but has also lived in the United States where he learned to speak English fluently, and Chile, where he met his wife. He always felt he wanted to dedicate his life to the business sector, where he could take advantage of his innate skills with numbers. At Biz Latin Hub “What I like the most about working in Biz Latin Hub, is that we are an unlimited source of business and job opportunities everywhere we have a presence. This is a great contribution to any country’s growth”. Julián has been a member of Biz Latin Hub team since 2017. Julián’s role demands his expertise to focus on growing his client's core...

How to Form an NGO in Brazil

by Legal Team Brazil | May 13, 2020

Learn how to form a non-governmental organization or NGO in Brazil. According to the Brazilian NGO association, ABONG, there are now more than 300,000 NGOs in Brazil. If you seek to become one of them, read on to find information about the laws and procedures to from an NGO in Brazil. The legal status of NGOs in Brazil Roles and responsibilities need to be clearly assigned in an NGO in Brazil. The Third Sector Law, nº 9.790, from 1999, provides the qualification of private legal entities as nonprofit Civil Society Organizations of Public Interest (Organizações da Sociedade Civil de Interesse Público, known as OSCIPs). This law disciplines and establishes the partnerships to be formed with the state and private companies. There are several types of institutions that comprise the Third Sector in Brazil including associations and private foundations. When an organization exists for more than one year, it can request to be qualified as OSCIP at the Ministry of Justice. This qualification allows an NGO to establish a relationship with the government. This gives the organization access to public resources through a Partnership Agreement (Termo de Parceria). This partnership agreement is a legal document for establishing partnerships between the government and the non-governmental organization. Qualified under this law, an OSCIP can: Experiment with non-profit, new socio-productive models and alternative systems of production, trade, employment, and credit.Produce studies and research, development of alternative technologies and dissemination of information and...

When Do You Need a Legal Representative in Bolivia?

by Legal Team Bolivia | May 10, 2020

A legal representative in Bolivia is vital for the functioning of a legal entity. The legal representative acts on behalf of the legal entity in order to carry out various regulatory procedures and formalities. In recent years, Bolivia has managed to maintain a stable economy that favors trade and investment, with sustained growth and low inflation rates. When doing business in Bolivia through a legal entity, make sure to appoint a trusted legal representative in Bolivia. Designation and function of the legal representative If the company is foreign, the legal representative must be appointed through the extension of a Power of Attorney granted by the company owner. When expanding, company owners must appoint the legal representative in Bolivia at the time of incorporation. The legal representative in Bolivia is a person who acts on behalf of the legal entity in order to carry out various procedures and formalities. Therefore, a company's legal representative in Bolivia can assume commitments and make decisions that will be attributed to the legal person (company). If the company is foreign, the legal representative must be appointed through the extension of a Power of Attorney granted by the company owner, in order to represent them in one or more businesses. The Bolivian consulate of the owner's country of origin and the Ministry of Foreign Affairs in Bolivia must legalize this Power of Attorney. What are the requirements to be a legal representative in Bolivia? In order to be appointed as a legal representative in Bolivia, individuals must: be of legal age (18...

What are the Labor Laws in Chile?

by Legal Team Chile | May 1, 2020

Understand the labor laws in Chile in order to make hires and manage employees in full compliance with local regulations. Chile is a long and narrow country caught between the Andes Mountains and the Pacific Ocean. It is characterized by its strong, transparent and stable economy with good growth prospects for the future. Labor laws in Chile, alongside the country's entire legal framework, provides important guarantees for foreign investors looking to enter the diverseand liquid domestic markets. In addition, Chile has a mature financial market which is quite receptive and dynamic. We outline the most significant aspect of labor laws in Chile for businesses to be aware of when hiring staff. Legislation outlining labor laws in Chile Labor laws in Chile come primordially and originally from the Chilean Labor Codex or Código del Trabajo (DFL 1). Labor laws in Chile are outlined in the framework that regulates labor relationships and bonds between employers and employees. In most common law jurisdictions, labor law is a term which usually finds its application in regard to the rights and duties/responsibilities of unionized employees within a company. Labor laws in Chile come primordially and originally from the Chilean Labor Codex or Código del Trabajo (DFL 1). This codex states on its preliminary articles that it will regulate labor and work relationships between employers and employees. Each of the 5 books in the Codex regulates a specific topic: The individual labor or employment contract and trainingProtection for employeesUnionsCollective negotiationsLabor jurisdiction....