Business license in Brazil
Let brief on history of Brazil before discussion of business license in Brazil. The Federative Republic of Brazil, being the largest in both South and Latin America. In terms of population it is fifth largest in the world, while Portuguese is the most spoken and official language here in Brazil. Having a coastline of 7,491 kilometers on the east along Atlantic, It borders all the South American countries but Ecuador and Chile. In fact, it is the business hub of Latin America.
Among Latin American Nations Brazil has the largest economy, while ninth in the world. Brazil is ranking eighth in Purchasing Power Parity PPP in the world according to the 2017 estimates. A member of BRICS [an association of five major emerging national economies: (Brazil, Russia, India, China and South Africa) since its inception. The currency is Brazilian Real or BRL. The exchange rate of BRL to US$ is around 1US dollar = BRL3.483.
In doing a business in Brazil one required to set up a registered company. There are two types of legal structures for companies:
Business licensing in Brazil
Thinking of opening a business entity or company in Brazil you need to keep in mind that Brazil is known for Red-tapism .Rules and regulations are there with times required to obtain a good numbers of documents to embark into a business. Well, as I have said, bureaucratic hurdles cost you more time and money than those prescribed.
A business license in Brazil is called alvará de funcionamentoin Brazil is to be obtained at Secretaria Municipal da Receita e do PatrimônioPúblicoImobiliário. In two phases the issuance of the alvará de funcionamen to would be completed:
The average processing time for this permit is roughly 20 days and the cost is BRL 40,000.
Business License requirement in Brazil
Once you are awarded Sanitary Permit by Secretaria Municipal de Saúde e VigilânciaSanitária you are required to get back again to Secretaria Municipal da Receita e doPatrimônioPúblicoImobiliário being your final leg of your journey . This authority would finally endorse your Business license to start working. This requires roughly 20 days and BRL 22,000 being the costs.
In fact, it is considerably expensive and time consuming to register a company in Brazil likes other developing nations. The above costs are standard in case investor or entrepreneur himself handles the formalities. These can be done through a lawyer in exchange of charges or fees in addition. There is no specific rule as to how many a lawyers can charges for their services. This depends on the structure of law firms and the clients.
In general foreigners are allowed to own and operate businesses in Brazil. But there are sectors foreigners are prohibited from entering into and apply of business license in Brazil. This includes sectors like:
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