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Saturday, June 19, 2010

Corporate capital

No minimum capital requirements are imposed, except in specific situations,
such as obtaining a permanent visa for a nonresident to manage a company
(US$ 200,000 or US$ 50,000, if the company commits to hire at least ten employees in the two years ensuing its incorporation), applying for import/export licenses or registrations, or the incorporation of a financial institution for which the SA form is mandatory.
The corporate capital of a Limitada, which must be denominated in Brazilian
currency, is divided into quotas with fixed or different unit values as specified in the articles of incorporation.

The Limitada may have its corporate capital increased any time after the
subscribed capital is fully paid by the quotaholders.
The reduction of the corporate capital of a Limitada, on the other hand, is only accepted when certain specific conditions are met (such as the offset of accumulated losses).


The administration or management of the Limitada must be performed by a
resident individual (quotaholder or not), who can be a foreigner with a
permanent visa and a work permit.

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