LEGAL REPRESENTATION IN BRAZIL
Finding a trusted local shareholder representative and a company administrator in Brazil is usually the most crucial task for foreigners who intend to open a company in Brazil.
The Brazilian law states that each foreign shareholder of your company must be represented by a Brazilian or someone with a permanent visa. Moreover, your company must appoint a local nominee-director, called an administrator. Choosing the shareholder representative and the administrator to represent your business is the next step to the formation of your company in Brazil. The legal representation is essential for the development of your business in our country.
The administrator is the person who will legally answer for all actions that the company performs in Brazil. The administrator does not have to be the owner of the company and must be named in the social contract. According to Brazilian law, the administrator must be a Brazilian citizen or have a permanent Brazilian visa.
Through a mandate, the International Group can provide you with a director, that is, an administrator of the International Group, where you will be named in your company's social contract, but this procedure does not imply in your operational or technical management.
All foreign shareholders in a Brazilian company – be they legal or physical entities – must be represented by a Brazilian or by someone with a permanent visa. The Group International assumes the legal responsibility to represent the foreign shareholders of your company through the power of attorney. This representative cannot act without explicit instruction from the shareholders.