How to Open a Company in Brazil as a Foreigner: A Legal Guide

Brazil is an attractive market for foreign investors, offering opportunities across sectors such as technology, healthcare, energy, agribusiness and services.
However, opening a company in Brazil as a foreigner requires compliance with specific legal and regulatory steps, particularly regarding documentation, representation and immigration rules.

In this guide, Chambarelli Advogados explains how a foreign individual can legally open a company in Brazil, the documents required and when it is possible to apply for an Investor Visa.

Can a foreigner open a company in Brazil?

Yes. Brazilian law allows foreign individuals to be shareholders of Brazilian companies, even if they do not reside in Brazil.

That said, there are important restrictions, especially regarding:

• corporate management;

• legal representation in Brazil;

• immigration status.

Proper legal structuring from the outset is essential to avoid delays or rejection by public authorities.

1. First step: obtaining a CPF in Brazil

The CPF (Cadastro de Pessoas Físicas) is mandatory for any foreigner who intends to become a shareholder in a Brazilian company.

Without a CPF, it is not possible to:

• appear as a shareholder in the articles of association;

• register the company with the Commercial Registry;

• invest capital or receive profits.

Required documents to obtain a CPF

• Valid passport;

• Passport apostilled in the country of origin (Hague Convention);

• Sworn translation of the passport into Portuguese in Brazil;

• Power of Attorney appointing a legal representative in Brazil.

The application is filed with the Receita Federal do Brasil, usually through the appointed representative.

2. Power of Attorney: a key legal requirement

For non-resident foreigners, the Power of Attorney is a central element of the company formation process.

It must:

• be executed abroad and apostilled;

• be sworn-translated in Brazil;

• expressly grant powers to:

  • represent the foreign shareholder;

  • sign the articles of association;

  • register the company before Brazilian authorities.

3. Registering the company in Brazil

Once the CPF has been issued and the Power of Attorney is valid, the company can be formally incorporated.

This involves:

• drafting the articles of association;

• defining the share capital;

• appointing a director or manager resident in Brazil;

• registering the company with the State Junta Comercial.

Only after this registration does the company legally exist and become eligible to obtain a CNPJ (Brazilian corporate tax ID).

4. Can a foreigner be a company director in Brazil?

As a general rule, no.

A foreigner:

• may be a shareholder without residing in Brazil;

• cannot act as a director or manager without an appropriate visa or residence authorization.

Therefore, many companies are structured with:

• a foreign shareholder;

• a Brazilian or resident foreign director;

• clear governance and representation clauses.

5. Investment above BRL 500,000 and the Investor Visa

When a foreign shareholder invests BRL 500,000 or more in a Brazilian company, it becomes possible to apply for an Investor Visa.

This visa allows:

• legal residence in Brazil;

• direct participation in company management;

• greater legal and immigration stability.

The application depends on:

• proof of the invested funds;

• company compliance;

• analysis of the business plan by immigration authorities.

⚠️ The Investor Visa is not automatic and requires proper legal planning.

6. Corporate, tax and immigration planning

Opening a company in Brazil as a foreigner goes beyond company registration. It involves:

• corporate law;

• tax law;

• immigration law;

• international compliance.

Common mistakes include:

• overly broad or poorly drafted Powers of Attorney;

• lack of sworn translations;

• improper appointment of directors;

• corporate structures incompatible with immigration goals.

Conclusion: legal certainty from day one

Brazil offers significant opportunities for foreign investors, but success depends on proper legal structuring from the outset.

Chambarelli Advogados provides integrated legal support in:

• company formation with foreign shareholders;

• corporate governance and structuring;

• tax planning;

• Investor Visa and immigration strategy.

With specialized legal guidance, the process becomes secure, efficient and aligned with the investor’s long-term objectives.

FAQ – Frequently Asked Questions

Does a foreigner need to live in Brazil to open a company?
No. A foreigner may be a shareholder while residing abroad, provided they have a CPF and a legal representative in Brazil.

Can a foreigner be a company director in Brazil?
Only if they hold a valid visa or residence authorization.

What is the minimum investment for an Investor Visa?
Generally, BRL 500,000, subject to case-by-case analysis.

Is a legal representative in Brazil mandatory?
Yes. Non-resident foreign shareholders must appoint a representative in Brazil.