Dissertation elaborates legal analysis of Brazil’s Individual Microentrepreneur Program | Direito - Economia - Sociedade:
'via Blog this'
segunda-feira, 24 de março de 2014
sábado, 22 de março de 2014
I will sometimes paste conversations with friends and potential clients. Names and details are always changed.
I am a lawyer in Westeross. I found you through your blog.
I represent a private equity management company. We have an opportunity to bring a Brazilian investor in as an investor in one of our funds. Can you give me general guidance on what--if any--restrictions apply to such investments?
As far as I can determine, Brazilian citizens (companies and individuals) have a duty to report any investment over $100,000 held outside the country. However, there are no restrictions on making investments abroad.
Any guidance you can provide is appreciated.
Thanks for contacting me.
I'm starting to advise some private equity funds in Brazil, and I think your contact comes at a very good time. Please let me know if your clients ever gets interested in investing in Brazil.
Regarding your question, there is no previous license or approval required for a Brazilian to invest abroad. The registration you mention does exist, but it must be made yearly and always after the investment has been made.
However, due to recent changes in law (through provisional measure 627), any income or capital gain made abroad must be declared and taxed in Brazil, every year.
This may required your client to plan his investment better, since he will probably be subject to double taxation (Westeros and Brazil).
Your client may postpone the Brazilian taxation if his investment is specially planned, but this kind of solution is still new and unclear.
Please check this presentation covering the basics on importation and sale of medical products in Brazil. You will have a best grasp of the theme if you also read:
Creating a Brazilian import company
domingo, 2 de março de 2014
See also: Verifying a Brazilian Power of Attorney - Question from Korea
I have just read a post from the Korea Law Blog that details how Korean courts can seize, or garnish, part of the salary of a debtor, in order to pay a creditor (Please check the link at the end).
The Korean system is remarkable. In Brazil, salaries cannot be seized for the payment of debts!
This limitation is traditional in our legal system, and is based on the old assumption that rich people would have colateral to guarantee his debts, while poor people would use 100% of its income to survive, and thus should not be subject to losing its only source nutrition and shelter.
This limitation is being lifted slowly by the courts, specially if the creditor is a former employee of the debtor and, therefore, would also need to receive its salary in order to survive.
Brazil is not Korea, though. You should always ask for a colaterall.
The Korean Law Blog: Garnishing Wages in Korea: Collection of Debts in ...: I received a call from a friend asking about information concerning collecting on a large personal debt. He loaned money to a “friend” and ...
sábado, 1 de março de 2014
Practical Guide - Incorporating in Brazil
How to incorporate a Brazilian company through foreign direct investment
List of documents for setting up a company in Brazil
Power of Attorney for setting up a company in Brazil
But, since it is not easy, the readers are always asking fo better instructions.
I have drafted a more detailed guide that indicates which actions are to be performed by the investor and which ones will be made by my team in Brazil.
I hope it helps. Please take a look:
You can also download it here.