Portuguese Translations for Setting Up a Branch in Brazil
We’ve blogged about English into Brazilian Portuguese translation services in the context of exporting goods to South America. With a population of nearly 200 million and a sizeable middle class, the Brazilian market is an attractive option for many US companies. But before you pack your bags and head to Brazil to open a foreign branch, there are some important issues you should consider.
For starters, although the market may be attractive, the regulatory environment is anything but. In fact, Brazilian legislation makes it very difficult – even unattractive – to open a foreign branch. With restrictions on foreign capital and the need to obtain authorization from the government to launch operations, for some the hassle might be more than the benefits.
The first step in opening a branch is thus requesting authorization from the Brazilian Ministry of Development, Industry and Foreign Trade. Your request must include:
Corporate resolution regarding its installation in Brazil, with the activities the company wishes to perform in the country and the available capital, in Brazilian currency, designated to its operations
- Articles of Association
- List of partners and associates, with their full names and qualification
- Certificate that the company was formed and follows the laws of its country of origin
- The appointment of a legal representative resident in Brazil and his acceptance on the conditions of installation and operation in the country
- The most recent balance sheet.
It is important to note that all documents must be translated into Portuguese – the official language of Brazil. The foreign language translation must be done by a sworn translator and registered in the country’s Registry of Deeds and Documents. More so, the submitted paperwork must also be notarized by a Brazilian consulate located in the company’s home country.
Once approved, you will need to report this to the Board of Trade of the state where you plan to open your branch. Here you must register your foreign company in the official registry of companies. Required information includes:
- Name, purpose, duration and headquarter of the foreign company
- Location of its branch in Brazil
- Date and number of the authorization decree
- The foreign company’s capital destined to the operations in Brazil
- The name of the branch’s legal representative.
As with the original request, all of this information must be registered in Portuguese, and will therefore require professional English into Portuguese translation services..