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The 7 Steps of Opening a Foreign Business in Brazil

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The 7 Steps of Opening a Foreign Business in Brazil

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Step 1: Create an Article of Associations:  the Articles of Association must outline information about the company that is being formed, who the partners are, how much each partner owns, and what type of activities the company is going to engage in.

Step 2: Next we must register with the Board of Trade in which we must present several documents, written in Portuguese. We will hire someone to translate our documents into Portuguese. Registration with the Board of Trade will get us a Company Registration Identification Number known as NIRE which will be the base for further applications.

Step 3: Next we must register for the Company Taxpayer Number with the National Registry of Legal Entities. The CNPJ number is usually considered the most important reference number for any Brazilian company.

Step 4: After this we must register for a business license. The Business License known in Portuguese as Alvará de Funcionamento, allows the company to operate activity within a municipality.

Step 5: Next we must register with Inscrição Estadual. When registered with the National Registry of Legal Entities, the newly formed company is able to pay Federal taxes. The Inscrição Estadual allows the company to pay state taxes within the state the company is operating.

Step 6: The newly formed company is, at this point, allowed to operate but still cannot legally issue invoices for any service or product. To be able to issue fiscal invoices you need an authorisation for issuing Notas Fiscais, which is known as AIDF. The registration for AIDF is very simple. The registration happens online and the only requirement is the CNPJ and the password given by the Secretaria da Fazenda. All information about the company is completed automatically by the system and the applicant will only have to verify that the registered data is correct.

Step 7: Finally we must register with social security. Registration with the Brazilian’s Social Security Institution known as INSS is obligatory within 30 days from when company starts to operate. The registration is obligatory even if the company has no employees. The company administrator will have to contact a Social Security Agency to request the registration of the company. This is also a simple procedure and no additional documentation is required beyond the CNPJ number of the newly formed company.

It usually costs between 3,000-10,000 for a foreign business to be set up in Brazil between registering capital, hiring people to translate documents, etc.

The average time it takes to get register a foreign business in Brazil is 3-6 weeks.

It's never guaranteed that your business will pass any or all of these steps. If we're shot down at any point, we will ask for feedback and try make the changes necessary to successfully register our business in Brazil.

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Competitive benefits packages for employees

Individual health insurance rather than a traditional group health plan

Set up retirement savings plan

Allow employees to be vocal about benefits that they want and let them be a part of the development processes for these benefit plans

Work with benefit plans that go with the company's culture or the culture you want to achieve

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Is our organization safe for workers?

Because we are providing the jobs, it is crucial that our organization makes the adjustments and accommodations necessary to ensure everyone’s safety

We will implement strict safety regulations that all our workers must follow or be terminated from the position

We want our mining operation to be as safe as possible

How can we sustain our organization?

By establishing values for our organization

By creating a community resource map

By using the planning process called VMOSA (Vision, Mission, Objectives, Strategies, and Action Plans)

By hiring workers that share the same vision as us (to combat poverty within the region)

By advertising our organization and having a strong web presence

Brazil is one of the world's best emerging economies of this decade, and many foreign countries are coming to Brazil to do business - this could create a higher demand to extract the iron ore and bring in more revenue to the country to continue the growth

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Fix and improve the current major company that extracts iron ore from Brazil (Vale).

Mine and sell other minerals besides just iron.

Manufacture and sell products using the minerals we extract (instead of just the metal) to small, struggling companies.

Find funding from government entities in Brazil - otherwise, create funding by large fundraising efforts, membership dues, selling of goods and services, and philanthropic foundations

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Our solution is one to create a non-profit organization (based in Brazil) whose purpose is to extract iron from the Earth, and sell it specifically to smaller iron manufacturing plants across South America at a low price (a much lower price then they normally would have to pay for the iron since our organization is non-profit). The point of this would be to help the smaller and struggling companies get a kick start so they could eventually become large and successful.  Basically, it would help distribute the wealth more evenly across the continent (which will indirectly help poverty) while taking advantage of Brazil’s rich iron ore reserves.

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Our region has incredible poverty and unstable and corrupt governments that are doing little to nothing to help this region’s economy and help pull people out of poverty. South America, specifically Brazil, has some of the world’s largest iron ore deposits and we need to take advantage of this in our effort to combat poverty within this region.

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Our understanding of South and Central America is that the government is widely corrupt and unstable, resulting in a difficult way of life for the citizens and widespread poverty.