We shall discuss about company registration fee in Brazil, limited company, branch office, license application and so on. Brazil is the eighth largest economy in the world and within a decade it shall escalate to the fifth largest economy in less than a decade of time. Brazil has an emerging market opportunity for domestic business, innovation, green technology and business areas. The government has been very considerate about local and foreign limited liability companies. If you are a foreign company trying to penetrate Brazilian market, there are local companies waiting to help you out with all the local and logistical hurdles you would face. Lastly FedEx profiles of the countries will give you an upper hand about the countries import and export restrictions.
The government also introduced a new form of limited company known as EIRELI – Individual Limited Liability Company under the law 12441. What newly incorporated with this kind id tat only one owner can own it. The owner can also not own similar such entities. Along with that the corporation name should end ‘’EIRELI’’ and should have a capital, which is 100 times the minimum wage rate of Brazil.
It might sound weird but as weird it sounds it is true that the cost for setting up your limited liability company shall vary from locations to locations. With the highest exponential developments in the south-east part of the country and from Rio de Janeiro to Porto Alegre the cost is more. The tax fees can range from 2000-2500 BRl in Bahia, Roraima. While it might cost to set up business is around 3000-3500 BRL in Santa Catarina, Minas Gerais and Sergipe. If you are trying to cut short you tax expenses you can locate your company in Paraíba where it will cost below 1000BRL.
Yearly Renewal Fees
Many services require an annually upgrade. Services such as Provision of the Registered Office and Registered Agent in Brazil, Compliance with local products fees, maintenance of director register, Government Fees, consultation fees and many such fees are considered company register fee in Brazil might cost you around 3500 pounds.
Articles of Association Fees
Article of association is one of the most important documents of a company. To get this document a company must be properly analyzed by an attorney to get registered at the Board of Trade. All types of companies undergo this cost. The cost involved varies from state to state, but the average cost is 938.00 BRL. The costliest state is Rio de Janeiro where it costs almost 2,000.00 BRL for the visa and business ideas in Brazil.
Fire Brigade Permit Fee
The fire brigade permit fee might sound funny initially but is a very important fee. This fee includes if the entire property has protective and firefighting equipment such as fire extinguishers, warning signs with proper exits needed in case of emergency. The fee varies from state to state between 636.00 to 2,442.00 BRL.
Notary Office Fees
Notary is another part of company registry fee in Brazil. While opening up a limited liability company you need to have an application for licenses which in further shall require the presentation of many documents. In some cases presenting the original or the copy of the document isn’t enough, so making the notarized copy is required. The notarized authenticated copy of a document can be gathered from a notary office with a payment for the authentication procedure and an amount of fee.
Other fees in setting up the company
You will need around 4 weeks to set up your company in Brazil. A lot of procedure follows your wish to penetrate the country’s market. Your company shareholders can all be foreigners. But here is a catch, the manager that you will be appointing as to a local. Even if he is a foreigner you need to pay a handsome amount of US $ 200,000.00 for each hired foreign manager.
You are free to operate your business from any part of the world but if you are not a local and plan to visit this beautiful country for the operation of your business, you need to shown an investment of R$600,000 in the company and apply for a permanent visa.
The brighter side behind all these expenses
Summing up setting up a limited liability company in Brazil after all such expenses shall be fruitful. The country does have corruption like any other countries in the world but is trying hard to eradicate all forms of hurdles in the operation of any business. You might need to spend an amount of 7400 pounds which includes duties, taxes and professional fees. But in return you are rewarded with original share certificate, original certificate of incorporation and original government receipt showing that you have been paying your annual license and company registration fee in Brazil perfectly.