The Normative Resolution No. 95 of the Brazilian National
Immigration Council, published on August 19, 2011 ("RN
95/11″), modified certain conditions for granting work
permits and visas to foreigners for purposes related to the
administration, management or board of Brazilian Companies.
The most relevant change brought by RN 95/11 is the modification
of the minimum investment of foreign capital to be made in a
Brazilian Company for a non-resident to be appointed administrator,
manager or executive. Upon the RN 95/11, the following requirements
shall be evidenced before the Ministry of Labor and Employment:
(a) capital investment by foreign shareholders (legal entities)
in the Brazilian Company, in foreign currency, equal to or greater
than R$ 600,000.00 (six hundred thousand reais) on behalf of each
non-resident appointed in the Brazilian Company. Prior to the RN
95/11, the minimum investment was R$ 200,000.00 (two hundred
thousand reais); or
(b) capital investment by foreign shareholders (individuals) in
the Brazilian Company, in foreign currency, equal to or greater
than R$ 150,000.00 (one hundred and fifty thousand dollars) for
each non-resident appointed in the Brazilian Company and also to
generate, at least, ten new jobs during the period of two years
from the formation of the Brazilian Company or from the entry into
the country of the non-resident with its permanent visa duly
RN 95/11 became effective on the date of its publication. The
new rules mentioned above do not apply to applications submitted
before the publication of RN 95/11.
The law firm Barbosa, Raimundo, Gontijo, Câmara e
Horta Advogados remains available for further information about
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Individuals and corporate entities resident, domiciled or headquartered in Brazil are required to provide the Central Bank of Brazil with information concerning any type of assets held outside Brazil, including currency.
n 2002, with the enactment of the new Brazilian Civil Code, the Brazilian Commercial Code lost much of its relevance and content, since the rules that regulated business activity were largely incorporated into the new Civil Code. More importantly, the changes introduced by the Civil Code in corporate law brought uncertainty and changes to known concepts and rules.
Por meio do Ofício-Circular CVM/SEP/nº 02/2015, a Superintendência de Relações com Empresas ("SEP") da Comissão de Valores Mobiliários ("CVM") divulgou, em 26 de fevereiro de 2015, novas orientações/recomendações sobre os procedimentos que devem ser observados pelos emissores de valores mobiliários no envio de suas informações periódicas e eventuais.
A foreign company may establish itself in Brazil either through a branch or a subsidiary. Foreign individuals can also set up their own companies in Brazil.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”