Legal

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** Dealing with changing systems in Brazil ** It’s also important for you to have appropriate tax counsel in Brazil or tax professionals that can help you go through all of the tax issues in Brazil. That’s a major issue. The taxes in Brazil are very confusing and very complicated, but as long as you have the right advisors with you, it can be very simple. They say that to go to Brazil, what you need is a big heart and to be very patient because it’s not easy. Things change. The only thing that is constant in Brazil is that things are going to change. So that’s why you need the right advisors and the right people to help you.

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** What should business people expect in Brazil if they would like to form a corporation in Brazil? ** Basically, one of the main differences between US and Brazilian businesses, whenever you’re going to incorporate a company in Brazil, sometimes it’s more complicated than here in the US. In the US, basically, you can incorporate in fifteen minutes, twenty minutes, you can go to the internet and do that. However in Brazil there is lots of bureaucracy, lots of red tape, the legal system in Brazil is different, the regulatory system in Brazil is different. So sometimes it takes much longer, it’s more bureaucratic. You need the documents to be notarized and consularized overseas then sent to Brazil. Then they must be filed be filed with the Board of Trade. Once they are filed with the Board of Trade, then you get your tax number, your tax payer number. Then you get your municipal tax payer number, your federal tax payer number, and then you need inspection from the municipality you run your business in. So there is lots of red tape that you must be aware of. You cannot be done in two or three weeks. Sometimes it takes even more than that. And the reason is that there are no shell companies in Brazil. Usually you will not find a company that is incorporated already and it’s a matter of transferring it to the new owner and using that company for whatever uses you want to use it for. Usually you have to start from the beginning. So that’s also very important because US business men do not understand why it takes so long to incorporate companies in Brazil. It’s because of the red tape. It’s not that it’s sophisticated or complicated, it’s just all of the red tape that’s involved.

Portuguese Translation

= Paulo Rocha = = media type="youtube" key="dTF-VCo2Yeo" height="507" width="624" align="center" = = = Well, there are many differences between Brazil and the United States, when it comes to business. One that comes to mind is the fact that if you have a joint venture going and you have an American lawyer preparing the contract, it will be reasonably fat, many, many, many pages. On the other hand, if you have the Brazilian lawyer, writing the original contract, it will be much skinnier, very few pages. Because the way Brazilians do it, they put the major things in the contract and the little details, they negotiate along the way and they adjust along the way. That is definitely a difference between the two cultures.
 * Can you talk about some of the differences in negotiating a contract in Brazil and the U.S.? **

Portuguese Translation