{"id":344,"date":"2024-11-15T13:04:33","date_gmt":"2024-11-15T16:04:33","guid":{"rendered":"https:\/\/mmrlaw.com.br\/?p=344"},"modified":"2025-10-09T08:45:57","modified_gmt":"2025-10-09T11:45:57","slug":"foreign-investments-ubo-brazil","status":"publish","type":"post","link":"https:\/\/mmrlaw.com.br\/en\/foreign-investments-ubo-brazil\/","title":{"rendered":"Foreign Investments in Brazil \u2013 Informing the Ultimate Beneficial Owner"},"content":{"rendered":"<h2>Definition of Ultimate Beneficial Owner<\/h2>\n<p>Legal entities domiciled in Brazil and foreign legal entities that hold certain assets in Brazil (including equity, real estate properties, vehicles, aircrafts and financial investments) are required to inform their ultimate beneficial owners (UBOs) to the Brazilian Internal Revenue Services &#8211; IRS (Receita Federal Brasileira \u2013 RFB) in accordance with Normative Instruction RFB No. 2119\/2022.<\/p>\n<p>Normative Instruction RFB No. 2119\/2022 defines an ultimate beneficial owner as:<\/p>\n<p>(1) the natural person who, directly or indirectly, ultimately owns, controls, or significantly influences the entity; or<br \/>\n(2) the natural person on whose behalf a transaction is carried out.<\/p>\n<p>A significant influence over the entity domiciled in Brazil is presumed when the natural person:<\/p>\n<p>(1) directly or indirectly holds more than 25% of the entity\u2019s corporate capital or voting rights; or<br \/>\n(2) directly or indirectly, acting individually or jointly with other persons, holds or exercises dominance in corporate decisions and the power to appoint the majority of the entity\u2019s officers\/administrators, even if without controlling the entity.<\/p>\n<p>In the case of trusts, the ultimate beneficial owners are the settlors, officers\/administrators, trustees, beneficiaries, and any other natural person who exercises the effective final control over the trust. <br class=\"avia-permanent-lb\" \/><!--more--><\/p>\n<h2>Deadline for Reporting<\/h2>\n<p>The ultimate beneficial owners need to be informed to the Brazilian IRS within 30 days as from the date of registration of the applicable entity with the Brazilian Corporate Taxpayer\u2019s Registry (Cadastro Nacional da Pessoa Jur\u00eddica \u2013 CNPJ).<\/p>\n<h2>Required Documents<\/h2>\n<p>The process of informing the UBOs to the Brazilian IRS includes submitting to the tax authorities the following documents:<\/p>\n<ul>\n<li>apostilled copy of the foreign entity\u2019s articles of incorporation \/ certificate of incorporation (or equivalent) showing the company\u2019s name, address and officers\/administrators;<\/li>\n<li>apostilled copy of a certificate that proves the current corporate structure of the corporate capital of the foreign entity;<\/li>\n<li>apostilled copy of document indicating the representation powers held by the foreign entity\u2019s legal representatives in the country of origin;<\/li>\n<li>apostilled power-of-attorney granted by the foreign partner to an attorney-in-fact residing in Brazil;<\/li>\n<li>apostilled copy of the identification document or passport of (a) the foreign entity\u2019s legal representative in the country of origin and (b) the foreign entity\u2019s UBOs, if they do not have a Brazilian tax ID for natural person (Cadastro de Pessoa F\u00edsica \u2013 CPF); and<br \/>\nan organizational chart indicating the foreign entity\u2019s UBO.<\/li>\n<\/ul>\n<h2>Penalties for Non-Compliance<\/h2>\n<p>Entities that fail to report their ultimate beneficial owners to the Brazilian IRS may have their tax ID \/ CNPJ suspended and be prohibited from transacting with financial institutions, including for purposes of transferring funds.<\/p>\n<div  class='hr av-6uq8l-faff47c300d834f3c872c6114e52e7b7 hr-full  avia-builder-el-0  el_before_av_hr  avia-builder-el-first  hr-no-shadow'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<p><strong>MMR \u2013 Mastrocola Marcondes Rocha Advogados<\/strong> is fully prepared to assist its clients, including foreign investors, in all matters involving corporate law. Our lawyers\u2019 broad experience both in Brazil and abroad (our partners have been representing foreign clients for over 20 years) allows us to provide our clients customized solutions for each of their particular needs, objectives and challenges. Contact us to learn more.<br \/>\n<div  class='hr av-6uq8l-1-3692ff0059e8c9eee9bba348de5df77b hr-full  avia-builder-el-1  el_after_av_hr  avia-builder-el-last  hr-no-shadow'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><\/p>\n<h2>Contact us<\/h2>\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f419-o1\" lang=\"pt-BR\" dir=\"ltr\" data-wpcf7-id=\"419\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/en\/wp-json\/wp\/v2\/posts\/344#wpcf7-f419-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Formul\u00e1rios de contato\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"419\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.5\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"pt_BR\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f419-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/>\n<\/fieldset>\n<p><label> Name<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" autocomplete=\"name\" aria-required=\"true\" aria-invalid=\"false\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span> <\/label>\n<\/p>\n<p><label> E-Mail<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"e-mail\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" autocomplete=\"email\" aria-required=\"true\" aria-invalid=\"false\" value=\"\" type=\"email\" name=\"e-mail\" \/><\/span> <\/label>\n<\/p>\n<p><label> Message<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"message\"><textarea cols=\"40\" rows=\"10\" maxlength=\"2000\" class=\"wpcf7-form-control wpcf7-textarea\" aria-invalid=\"false\" name=\"message\"><\/textarea><\/span> <\/label>\n<\/p>\n<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner\" type=\"submit\" value=\"Submit\" \/>\n<\/p><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"170\"\/><script>document.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );<\/script><\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Definition of Ultimate Beneficial Owner Legal entities domiciled in Brazil and foreign legal entities that hold certain assets in Brazil (including equity, real estate properties, vehicles, aircrafts and financial investments) are required to inform their ultimate beneficial owners (UBOs) to the Brazilian Internal Revenue Services &#8211; IRS (Receita Federal Brasileira \u2013 RFB) in accordance with [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[22],"class_list":["post-344","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-company-formation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Foreign Investment &amp; UBO Declaration in Brazil \u2013 MMR Law<\/title>\n<meta name=\"description\" content=\"Understand Brazil\u2019s requirements for declaring the Ultimate Beneficial Owner (UBO) when investing or forming a company.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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