Page 123 - InvestmentGuideBrasilEng

Step-by-step

1. Check whether the business activities require
prior authorization from public agencies to
operate in Brazil. They are listed in the Technical
DNRC n? 114 of September 30, 2011 (available in
Portuguese at
http://www.dnrc.gov.br/Legislacao/IN%20
114%2011.pdf and
http://www.dnrc.gov.br/Legislacao/
IN%20114%2011%20Anexo.pdf).
2. Choose the type of company for
the business. For that, it is important
to consider the table below.

3. Hire a local accountant to take all documents
to the Board of Trade of the Brazilian state
where you intend to open the company. This
professional should assist throughout the
process and prepare and record the following
documents:

I. Articles of incorporation/bylaws. One
must choose the method for calculating
taxes when filing these (National Simple
(Simples Nacional), Taxable Income or
Estimated Profit) and make a number of other
decisions, such as the company’s name, the
administrator of the company, etc. Legal
assistance is also recommended in order to
Government entity prepare the articles of incorporation/bylaws;
II. Power of attorney given to the
Brazilian Representative;
responsible for III. Copies of the personal documents
of the associates, including the visa;
and the address voucher for where
opening companies the company will be established.
IV. Corporate taxpayer ID number (CNPJ);

V. State and Municipal Taxpayer Registries;
VI. Municipal License / Operation Permit
The National Commercial Registration Department (DNRC - Departamen- (Alvara ou Licenca de Funcionamento); and
to Nacional de Registro do Comercio ) is the entity responsible for im- VII. National Institute of Social Security
22
proving Brazil’s business environment, including adopting policies aimed (Previdencia Social) and Special Fund for
at simplifying and modernizing the necessary procedures for opening, Unemployment - FGTS Registrations.
amending and closing a company. It operates at the national level, in close
cooperation with relevant agencies from the federal, state and local gov- Note that all documents must be translated to
ernments. It also provides a list of local, state-level company registration Portuguese by a sworn translator and registered in
offices, which in Brazil are known as “Boards of Trade” (Juntas Comerciais). the Registry of Deeds and Documents. The paper-
work also must be notarized by a Brazilian consul-
22 www.dnrc.gov.br ate located in the associate’s country of origin.
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