With the publication of Provisional Measure No. 876/2019 ("PM") on March 14, 2019, individual entrepreneurs, individual limited liability companies ("EIRELI") and limited liability companies are automatically registered in Brazil's commercial registries, after the initial procedures of address and name confirmation. The Taxpayers Registry ("CNPJ") number is issued automatically at the moment of registration, and the formal analysis of the incorporation acts will be performed later on, with the deadline to ratify the registrations being within 5 business days.
The PM also allows the submission of non-notarized copies when a lawyer, accountant or other interested party declares their authenticity under the penalty of his or her personal liability.
The PM came into effect as of the date of its publication and needs the National Congress' approval to become definitive.
We remain available for further clarification or information.
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Founded in 2001, Tauil & Chequer Advogados is a full service law firm with approximately 90 lawyers and offices in Rio de Janeiro, São Paulo and Vitória. T&C represents local and international businesses on their domestic and cross-border activities and offers clients the full range of legal services including: corporate and M&A; debt and equity capital markets; banking and finance; employment and benefits; environmental; intellectual property; litigation and dispute resolution; restructuring, bankruptcy and insolvency; tax; and real estate. The firm has a particularly strong and longstanding presence in the energy, oil and gas and infrastructure industries as well as with pension and investment funds. In December 2009, T&C entered into an agreement to operate in association with Mayer Brown LLP and become "Tauil & Chequer Advogados in association with Mayer Brown LLP."
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This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.