Foreign Partner Rights:
Article 172 – Federal Constitution: The law will establish based on national interest, on the foreign capital investment, promote the re-investment and regulate the remittance of profits.
Law 4,131/62: Investments in closely-held companies.
Article 2: To the foreign capital will be dispensed to the same legal treatment given to national capital on equal terms, being forbidden any discrimination.
Foreign Partner Obligations:
Art. 119, Law 6,404/76
- The partner domiciled abroad must have an attorney-in-fact in Brazil with powers to receive service of process;
- According to Brazilian Federal Revenue, foreign partners must be enrolled with the CPF or CNPJ, as applicable;
- Registration with Brazilian Central Bank is required in order to enable remittance of funds;
- Brazilian companies must have at least 2 (two) partners;
- Officers of Brazilian companies must be resident in Brazil. The members of the Board of Directors, in the other hand, can be resident abroad since they indicated an attorney-in-fact in Brazil.