Brazil has had a growing economy over the last years and it is situated ninth in the world, having the largest economy in Latin America. Thus, many foreign entrepreneurs choose to open a company in Brazil.
When wanting to invest in a foreign country, you need to go through the types of business entities first and choose the best one for you. When it comes to entering the Brazilian market, we can talk about two options: directly, by opening a new company or establishing a branch office or subsidiary, or through third parties.
The company types in Brazil are as follows: the non-profit company, the general, the limited or the overt/convert partnership, the limited partnership by shares, the corporation or the limited liability company. However, the type that is usually preferred by foreign investors is the latter, the LLC.
When you want to set up a company in Brazil, you have to meet some requirements. These are the demands for the limited liability company:
- a minimum of two shareholders,
- at least one director (the nationality is not important),
- appointing a legal representative for the company,
- a minimum share capital of only 1$.
One of the advantages with forming a LLC in Brazil is that this legal entity can pursue any type of business activities. The whole process of company incorporation should take a couple of weeks. Our specialists can assist you with the procedures so as to be completed in the shortest amount of time.
1. The first thing you have to do is to choose a suitable name for your company and then check it with JUCESP (Junta Comercial do Estado de São Paulo).
2. Then you have to pay a registration fee and receive a receipt that you will use later on.
3. You also need to register with the Municipal Taxpayers' Registry in São Paulo.
4. Register with the State Board of Commerce in order to get the Identification Number, with the Secretary of Federal Revenue for tax registration, with the State Department of Finance, Social Security Institute and finally with the Patronal Union and the Employees Union.
5. Obtain digital certification to be able to use the electronic billing (e-invoice).
6. You also need an operations permit and in order to acquire it you have to apply to the municipality.
7. Last, you need to register and pay TFE (Taxa de Fiscalização de Estabelecimentos) with the Municipal Taxpayer's Registry.
For more information about how to open a company in Brazil, please contact our specialists. They can assist you in the process of company registration in Brazil, as well as in other countries of the world; assistance will be provided no matter the type of business entity you want to set up.