Cutting red tape for the foreign companies operating in Brazil

The federal government eased the operations of foreign companies in the country. In addition to requesting the opening of branches, agencies and establishments in Brazil through the website, foreign companies can now cancel operations without requiring prior authorization from the Ministry of Economy. This step can be done directly at the Commercial Board, in the State where the firm is located.

Normative Instruction nº 77/2020, which comes into force on April 1, also allows changes to the contract or social statute to be equally requested online.

The new standard compiled the rules for the operation of branches of foreign companies in the country, revoking the four previous regulations regarding the matter.