New Brazilian investment guide - Brazilian Agency for promotion of exports

SEE ALSO:
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

Apex, the Brazilian agency for promotion of exports, has published a new Investment Guide to Brazil.

The material is beautiful.  The agency in charge of the design did good work.

Compared to the earlier versions, I think that the legal part has  improved. It is more detailed and fairly close to reality.  The main slides regarding company incorporation are reproduced below.

The problem with this guide is excessive optimism and misleading information. For example, it lists as "Tax Incentives"some programs that are, in reality, very limited in scope.

It is also a publicity piece, with government agencies fighting to shine in their respective areas.  Brazilian Development Bank (BNDES) almost convinced me that obtaining loans is easy.

If you already know Brazil, I don't think the guide will add much. If you are a beginner, go for it (link below):

INVESTMENT GUIDE TO BRASIL 2014

FDI moot and my amazing intern

My beloved UFMG's team, lead by my ex-intern, Ms. Maria Tereza, has been ranked first on the prestigious Foreign Direct Investment International Arbitration Moot competition, held last week in Frankfurt.

I have been one of the team's sponsors. I would love to say that I helped them to draft the memorials, but truth is I didn't.

I have given Maria Tereza some lessons about FDI policy when she was my intern, though. It's got to count for something.

I'm proud! My job is really rewarding sometimes.




http://fdimoot.org/2013.php

Top 25 Teams (Oral Rounds 1-4 and Memorials)
Rank/Points/Team Alias/University

*1	1528	Jennings	Federal University of Minas Gerais
2	1517	Fitzmaurice	New York University, School of Law
3	1511	Abraham	University of Warsaw
4	1509	Ajibola	St Petersburg State University
5	1501	Bravo	King's College London
6	1496	Sette	University of Buenos Aires
7	1477	Petren	Harvard Law School
8	1473	Cancado	University of Belgrade
9	1468	Jessup	National Law University,Jodhpur
10	1458	Rau	Lomonosov Moscow State University
11	1457	Xue	Georgetown University Law Center
12	1456	Elias	University Carlos III of Madrid
13	1451	Visscher	Gujarat National Law University
13	1451	Tanaka	Georg-August University of Goettingen
15	1437	Singh	Jagiellonian University
16	1433	Krylov	University of Ottawa
17	1431	Bengzon	De La Salle University - Far Eastern University
18	1427	Castro	Russian Academy of Justice
19	1421	Klaestad	University of the Cardinal Stefan Wyszynski
20	1419	Golunsky	Monash University
21	1416	Waldock	Judicial Research & Training Institute (JRTI)
22	1411	Lachs	Suffolk University Law School
23	1409	Alfaro	National Law University, Delhi
24	1402	Lauterpacht	Kyoto University
25	1393	Zoricic	University of Latvia

* Winner of the Baker & McKenzie Prize for the Highest Ranked Team as well as winner of Investor State Law Guide Prize for Highest Ranked Team 

How to send profits from Brazil to Europe

See also: 

Incorporating a Brazilian company, step by step

Getting money into your Brazilian company - a few common problems

Capital gains tax in Brazil  – what foreign companies should know

This post cover the remittance of profits that have been obtained by a Brazilian company with foreign shareholders.

Foreign investments in Brazil are subject to registration with the Central Bank of Brazil (BACEN), and the information the investor provides becomes part of the Information System of the Central Bank (SISBACEN). This registry is a key requirement, without which the investor cannot remit the profits obtained in his operations in Brazil abroad, repatriate the capital or reinvest the profits.

After Law n. 9.249/2005, the profits earned and distributed from 01/01/1996 became exempt from income tax as well as from the supplementary income tax in Brazil. 

Therefore,  remittance of dividends abroad is exempt from income tax.

Dividends repatriation is allowed, at any time and without any kind of government authorization, as long as the balance sheet of the company is duly registered and the amount remitted is equivalent to the amount declared in the balance.

The financial institution managing the FX agreement may ask for a record of the shareholder`s meeting that decided upon the distribution of profits. This is due to compliance rules. Depending of the compliance analyst, it may accept a simple signed form, or it may request the records to the filed with the Commercial Registry. In this last case, the transaction may be delayed for one or two weeks.

See also: 

Incorporating a Brazilian company, step by step
Getting money into your Brazilian company - a few common problems

Capital gains tax in Brazil  – what foreign companies should know