Foreign companies: step-by-step to establish its business in Brazil
We set here foreign company. Good, It is an established and organized commercial company in accordance with the law of their country of origin, which has its administrative headquarters. For this company to establish its business in Brazil means having a branch in our country, but in legal terms, under Brazilian law means a new company usually consists of foreign capital (almost 100%), and a small part of the national capital.
As the new foreign company authorized to operate is required to have a permanent representative in Brazil, then it usually gives a small part of the capital to a Brazilian partner (I have observed this in foreign companies that have worked for). Usually this representative is given full responsibility for the business in Brazil and reports to the "headquarters" abroad.
Brazilian law, as in any other country, It should be understood primarily on tax matters, in order to calculate business costs. It is essential to hire professionals who have a broad knowledge, preferably with experience in international companies.
Generally, when a foreign company begins its activities in Brazil you have to follow the following steps:
- To have a representative in Brazil and to take the appropriate power of attorney in your country of origin
- Consularize all foreign documents (copies of documents of foreign partners);
- sworn translation of all foreign documents, including attorney in Brazil;
- Obtaining CNPJ and CPF in Brazil, which are provided by the Internal Revenue Service;
- Legalization Cool (Social contract, records and permits): for this procedure is necessary to hire competent accounting advice, including that he understands that it is not a national company that procedures should be more careful, the rules should be stricter. It is essential that this statement can follow the development of all licenses and permits required for the operation of the business.
- Opening bank accounts and money transfer structure: For many international companies to open bank accounts, at first, to inject capital to start the business. Already in a future stage, the reverse role will be played: part of the capital must return to the country of origin in the form of profit distribution. At this point, you should pay close attention to legislation, such capital will be distributed and that the taxes are due.
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