How the Chief Officer in Brazil can help you start a company

If you are a foreign investor and want to open a company in Brazil or partner with another company in the country, you should know that you need a Chief Officer in Brazil to represent legal issues. To help you better understand the subject, check out this content prepared by the team of experts from GESCON!

Do I need a Chief Officer in Brazil to open a company?

Article 75 item X of the Civil Procedure Code provides that the foreign company is represented in court by the representative of its “branch, agency or branch” in Brazil.

For this reason, all foreign companies that set up or are partners of companies in Brazil must appoint a legal representative to represent them in the country.

Therefore, the legal representative, called the Chief Officer, will be responsible for signing documents (including the social contract / bylaws) and representing the company from abroad in all directions in Brazilian territory.

How the Chief Officer will assist in opening the company in Brazil

The foreign company must grant a proxy to the appointed representative. This power of attorney must be published and notified in the country of origin.

It is also necessary,that the foreign company sends to Brazil copies of its Constitutive Acts, indicating who its administrators are, with all documents duly notarized and handouted in their country of origin.

In addition, all documents that are in a foreign language must also be translated into Portuguese, through a sworn translator.

After the documents are sent, a CNPJ must be made for the foreign company (ies) that are partner (s) of the company to be incorporated in Brazil.

Attention: this is not the same as the foreign company being incorporated in Brazil. It is just a specific administrative act done directly at the IRS.

After all the previous steps have been made, it will be possible to finalize the Social Contract / Bylaws and file with the State Commercial Board where the company will be incorporated, following the same procedures as a “joint venture”.

In addition to the points listed above, complementary registrations are required at BACEN – so that the foreign company can send and receive amounts from Brazil – and also the identification for the Federal Revenue of the Ultimate Beneficial Owner.

Are you looking for a Chief Officer in Brazil? Talk to GESCON!

We have personalized services for global companies operating in Brazil

GESCON provides professional services in Brazil oriented to dynamic companies seeking growth. Our services are customized for multinational corporations, with constant focus on the current dynamics of the Brazilian market which is gradually more similar to the world market as a whole, in terms of both competitiveness and a constant search for excellence.

Our Chief Officer in Brazil speaks your language

It’s not only about speaking foreign languages (yes, we do speak English, Portuguese, and Spanish well), but we also speak the language of business! We aim to cover all areas a mid-sized company in Brazil needs: Accounting, Tax, Labor, Legal Aspects, Regulatory Affairs, etc.

We want to help you make the correct choices in Brazil

GESCON’s strategy is based on services customized to the unique needs of our clients. Our rate of use of Managers and Directors in relation to our operational staff allows us to provide excellent services under the constant and direct supervision of the highest-level personnel.

Don’t waste your time and talk with us right now! Contact us here!