One day to get into business

One day to get into business

Federal government has launched last January 2021 the “one stop shop” online system to simplify the opening of companies in Brazil.

Through a single digital form, and based upon the timely presentation of required documents by the foreign investors, legal entities shall be able to be incorporated in just one day and without having to be approached several bureaucratic public authorities.

By means of an integrated data center shared among all the involved clearing organizations of each government sphere (federal, state and municipality) that system allows a quick crosschecking and release led by the Companies’ Registry where the new business will be recorded.

Eventual clearance demands shall be virtually resolved by applicants directly on the system without the waste of time with meetings or pleadings in person, decreasing displacements, once the issue can be solved in one place only.

As the country is experiencing a warmed-up economy these days, such digital transformation will contribute to Brazil gain positions in the worldwide ranking of 190 nations under ongoing evaluation by World Bank.

A huge jump has been given by the reduction of 17 days on average to 1 day to get into business in the main South American marketplace making it more competitive for national and foreign direct investment. That is feasible because the collection of all data necessary to start-up the operation of the company is done by the completion of a single electronic form, available on the internet. Previously, in São Paulo, for instance, the applicant had to enter four different sites (two in the federal government, one in the State and one in the municipality) to record and run the company, in addition to performing seven other procedures also measured by the World Bank.

That stigma shall be overcome along upcoming endeavours. Now, all steps can be accomplished in one virtual environment: necessary consents by City Hall; State company recording; Federal Tax ID (FEI) release; State and Municipality tax registration; taxpayer unblocking request; issuance of licenses; and the registration of hired employees through e-Social access.

If you would like to know more about that matter please contact Fischer Law Firm and we will be honored to perform joint efforts pursuing to render the customized support you are looking for.