Can a foreigner open a company in Brazil?

Although there are many options for those interested in forming a company in Brazil, the most common type of company a foreigner can open in the country is the equivalent of a Limited Liability Company (LLC). Any foreigner person or company can be a shareholder of a limited liability company in Brazil.

What is LLC in Brazil?

A Brazil Limited Liability Company (LLC) has been around for over 40 years. Also known as a Brazilian Sociedade Limitada (Ltda) it is similar to the Limited Liability Company (LLC) in other countries. They are governed by the Civil Code and by Law No. 6404 of 1976 known as the “Corporation Law”.

Is it expensive to start a business in Brazil?

Incorporation costs in Year 1 amount to US$11,400 and annual company costs in Year 2 and thereafter amount to US$0. The average fee per Brazil engagement amount to US$40,330, which includes company registration, annual company secretary services, estimate of Government costs and Brazil corporate bank account.

How long does it take to incorporate in Brazil?

60-90 days
The entire process of incorporating a new entity in Brazil can take 60-90 days, plus the time needed to open on a bank account.

How do I register my business in Brazil?

Registration can be time-consuming and bureaucratic process.

1. Appoint a Representative.
2. Check Company Name.
3. Establish an Office.
4. Apply for Governmental Approval.
5. File Company Documents with Department of Trade.
6. Publish Financial Statements.
7. Register for Federal Tax.
8. Register for Social Security.

How long does it take to set up a company in Brazil?

To operate locally, companies must navigate the long process of incorporation through five major steps with smaller tasks involved during each step. The entire process of incorporating a new entity in Brazil can take 60-90 days, plus the time needed to open on a bank account.

How do I start a business in Brazil?

Registration can be time-consuming and bureaucratic process.

1. Appoint a Representative.
2. Check Company Name.
3. Establish an Office.
4. Register Company at Board of Trade.
5. Publish Financial Statements.
6. Register for Federal Tax.
7. Register for Social Security.
8. Approve Office Address.

Why is it difficult to start a business in Brazil?

There is definitely a lack of transparency, and it requires serious patience.” Starting a company in Brazil is a difficult process that is not exclusive to any one entrepreneur or industry. Widespread bureaucracy and administrative hurdles create major challenges that all entrepreneurs face there.