Brazil's Tax and Trade Policies under the Rousseff - Brazil-US ...

Establishing a company in Brazil• Due to the difficulties of operating in Brazil through branches, the common way of doingbusiness in Brazil is through a Brazilian company• Types of companies used: (a) limited partnership or (b) a corporation (which can access thecapital markets through the issuance of shares and debentures). In both cases, the partners'liability is limited to the capital invested or committed to be invested• However, there may be liabilities for tax or labor issues (except for strict liability of thecontrollers of financial institutions)• In general, administrators are personally liable only if they acted in violation of law or thecorporate bylaws. There are, however, specific hypotheses of managers liability for issuessuch as violation of consumer rights or environmental and tax laws