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Company formation Brazil refers to the processes of registering a company in a country. Today, it is possible to create a company in a day electronically. Companies can be created by individuals, accountants, solicitors, and lawyers.
The following are the requirements for forming a company:
You should have a very unique name for your company so that it can be easily distinguished from the rest. Using certain names such as insurance, group, or banks can make your registration to be canceled because such a title can be misleading since they are mostly used for state-owned corporations.
You should choose the type of company that you want. Companies can be divided into various types. They include private companies, public limited company, a private company limited by guarantee, an unlimited company, limited liability company, community company. Private companies are owned by directors according to the number of shares that one has. The director with the highest value of shares takes has power over the company. Public companies, on the other hand, are a company whose shares may be sold to the general public so that they can own it and be able to receive dividends. A company limited by guarantee is one that is a non-profitable organization that requires legal representation.
Your company should have articles of association or the constitution by which the public company is run. The document has to be submitted to the registrar of companies after it is signed by the directors in the presence of a witness.
The company must have an official address for its company. You can use your personal address if you haven't yet opened an office for their company.
The company must include directors who will run the company. For a private company, mostly the directors run the company themselves or appoint a manager to assist them to run it. For public companies, the directors' is appointed by the shareholders during the annual general meeting. The directors must include their phone no's, residential address, national identification no, date of birth, occupation and a list of other companies that they are directors.
The memorandum of association is a document that outlines the name and signatures of the directors and the share amount that every director owns. It also lays down the goals of a company. Get some ideas also about company incorporation Brazil.
A company should have a secretary who will ensure that the requirements are met. They help to maintain the company's books and also ensure that returns are filed on time. The secretary could be a director or an employee that has been appointed by the director.
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