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NEWSLETTER Veríssimo, Moreira & Simas Advogados

JULY 22, 2022

Importance of the Representative Residing in Brazil for Foreign Companies, Partners, and Managers resident or located abroad.

Companies headquartered in foreign countries and managers resident abroad must appoint a legal representative in Brazil to receive summons in judicial or administrative proceedings, so that they can be, respectively, partners or managers of companies in Brazil.

For publicly held corporation managers residing abroad, the power of attorney must also contain powers to receive summons and notices in administrative proceedings initiated by the Securities and Exchange Commission.

The power of attorney must have a minimum term of three (3) years after the end of the manager’s term of office and is presumed to be for an indefinite period when its validity is not indicated.

Legalization of Foreign Documents in Brazil.

Also, regarding the incorporation of companies in Brazil, documents issued abroad must be authenticated by the Brazilian consular authority in the country of origin, and, when not written in Portuguese, they must be accompanied by a translation carried out by a sworn public translator.

Consular legalization is waived in the case of public documents from the countries that are signatories to the Convention on the Elimination of the Requirement to Legalize Foreign Public Documents, signed in The Hague, approved by Legislative Decree No. 148 of July 6, 2015.


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