Much more than a just touristic destination, Brazil has emerged as one of the most attractive Latin American countries to do business in. Investor confidence is growing and many companies are entering the marketplace and creating companies as an international expansion method.
Every company in Brazil must be registered before several Brazilian authorities such as the Board of Trade, City Hall, Federal Revenue among others. Additionally, all companies are required to obtain the following:
- Company Taxpayer Number
- Business License
- Authorization to issue ‘Notas Fiscais’
5 Steps to Create a Company/Corporation in Brazil
Documentation, Corporate Structure and Registration
A series of documents are required to establish a company in Brazil. This documentation will depend on the corporate structure you want for your business. The most common legal entities in Brazil are:
- Limited Liability Company (LTDA)
- Individual Company of Limited Responsibility (EIRELI) – only for nationals or foreigners with a resident permit
- Limited or General Partnership.
Once you choose the type of company you wish to form, you will need to register it before the respective federal, state and local authorities.
Please note the following:
- The registration process will vary if you wish to form a subsidiary of a foreign company, as opposed to a new independent company.
- It is important to know that every company in Brazil must have a legal representative who can be a national individual or a foreigner with a resident permit.
Open a bank account in Brazil
All Brazilian legal entities are required to open a corporate bank account. For this process, you’ll be asked to fill in some documentation and prove your company’s existence.
Electronic digital ID and digital signature
All new companies in Brazil must have an E-CNPJ certificate for electronic invoicing, signing legal documents and in order to appear in front of different local authorities, such as the Internal Revenue System.
Final step: bank movements
You’ll need to register every investment with the Central Bank of Brazil.
Want to learn more about creating a company / corporation in Brazil?
If you’re interested in learning more about setting up a new company or a foreign branch in Brazil, get in contact with one of our local specialists. Biz Latin Hub has extensive experience in assisting foreign companies to do business in Brazil and our professional and experienced legal team can provide you with a range of professional services tailored to your business needs! Please contact us now for more information.
If you are thinking of incorporating a company in Latin America, learn how our market entry and back-office services can be useful for successful operations in the Latin American region.