Brazilian or foreign legal entities are already expressly authorized to own Individual Limited Liability Companies – Eirelis. On May 2, Normative Instruction No. 38/2017 of the Department of Business Registration and Integration (DREI) came into force, which, among other changes, amended the wording of item 1.2 and letter "c" of item 1.2.5 of the Individual Company Registration Manual ("Capacity to own an Eireli") to ensure this right.

The decision by the Federal Revenue Service of Brazil (RFB) to include sub-condominiums among entities required to register with the National Register of Corporate Taxpayers (CNPJ) is a measure that should contribute to the administrative efficiency of businesses structured in the form of condominiums. The change was announced on December 29, 2016, with the amendment of Article 4, item II, of Federal Revenue Rule No. 1,634/2016.

On May 2, 2017, Normative Instruction No.

On May 2, 2017, Normative Instruction No. 40 (“IN 40”), issued by the Department of Integration and Company Registration (“DREI”), was published, amending Article 2 of Normative Instruction No. 34 (“IN 34”), also issued by DREI, which...

Individuals and legal entities residing, domiciled, or headquartered in Brazil, as defined in the tax legislation, must report the assets and amounts they hold outside the country to the Central Bank of Brazil.

Individuals and legal entities residing, domiciled, or headquartered in Brazil, as defined in the tax legislation, must report the assets and amounts they hold outside the country to the Central Bank of Brazil. Such reporting is mandatory for those...