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Global Sports Opportunities Conference London, 30-31 January 2013  Opportunities in Brazil – the 2014 World    Cup and the...
Presentation Topics : 1.Foreign capital treatment in Brazil 2.Sports events and infrastructure projects: concessions and b...
1. Foreign capital treatment in Brazil  •Brazilian Constitution of 1988 originally prevented foreign  capital from being i...
2. Sports events and infrastructure projects:           concessions and bidding process  •World Cup in 2014 and the Olympi...
3.Available options to structure your business in                            Brazil   •Setting up a Brazilian company/Join...
4.      The Rio 2016 tendering process     Visit : www.rio2016.org.br/en and   portaldesuprimentos.rio2016.com   •Internat...
CONDITIONS FOR THE PARTICIPATION IN THE   INVITATION TO BID – two phases   1. Qualifying process – legal, technical, finan...
• QUALIFYING PROCESS   • LEGAL QUALIFICATION :   • Example of documentation required: act of incorporation,     by-laws or...
• TAX AND LABOUR QUALIFICATION   • Example of documentation required: evidence of holding a     valid tax number – CNPJ, i...
• FINANCIAL QUALIFICATION:   • Example of documentation required: Balance sheet and     accounting statements for the last...
• TECHNICAL QUALIFICATION   • Example of documentation required: evidence of     registration and regularity as to the sta...
Article 32 of Law 8666/93 : foreign companies shall attend   the requirements to the possible extent. All documentation   ...
• COMMERCIAL PROPOSAL   Bidders shall present an envelope containing their     COMMERCIAL PROPOSAL. They will be disqualif...
Thank you                           Vera Dantas          Noronha Advogados, London          Phone: (20) 7581-5040       vm...
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Vera Dantas presentation.Legal aspects of undertaking business in Brazil

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Apresentação de Dra. Vera Dantas na Global Sports Opportunities Conference, promovida pelo United Kingdom Trade & Investment (UKTI) nos dias 30 e 31 de Janeiro.

Para mais detalhes do evento acesse http://www.globalsportsconference.ukti.gov.uk/content/public/main/Programme.aspx

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Vera Dantas presentation.Legal aspects of undertaking business in Brazil

  1. 1. 1
  2. 2. Global Sports Opportunities Conference London, 30-31 January 2013 Opportunities in Brazil – the 2014 World Cup and the 2016 Olympic Games: Legal Aspects Moderator : Chris Wall, Business Specialist, UKTIVera Dantas, Noronha Advogados, London 2vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  3. 3. Presentation Topics : 1.Foreign capital treatment in Brazil 2.Sports events and infrastructure projects: concessions and bidding process 3.Available options to structure your business in Brazil 4.The Rio 2016 tendering processVera Dantas, Noronha Advogados, London 3vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  4. 4. 1. Foreign capital treatment in Brazil •Brazilian Constitution of 1988 originally prevented foreign capital from being involved in various areas. Today only very few restrictions apply - for example, nuclear energy, health services and postal services. •Distinction between companies of national and foreign capital ended in 1995. Brazilian company is one that is organised in accordance with Brazilian laws. •Registration of investment at the Central Bank of Brazil enables remittance of dividends and repatriation. No exchange controls – free flow of currencies.Vera Dantas, Noronha Advogados London vmd@noronhaadvogados.com.br 4
  5. 5. 2. Sports events and infrastructure projects: concessions and bidding process •World Cup in 2014 and the Olympic Games of 2016 : federal government and host cities focusing especially on urban transport – plus airports, security, etc. •Most projects will involve the granting of a concession, preceded by a bidding process. Public Bidding law (n.8666/93) and Concessions law ( 8987/95) apply.Vera Dantas, Noronha Advogados London vmd@noronhaadvogados.com.br 5
  6. 6. 3.Available options to structure your business in Brazil •Setting up a Brazilian company/Joint venture with a Brazilian company : structure using a Sociedade Anônima or a Limitada – in both cases shareholders have limited liability. Remittance of dividends is zero tax rated in Brazil. Possibility of consortia. •Purchasing an existing business – should be preceded by a full legal and accounting due diligence. •Providing services from the UK: 25% withholding tax upon remittance from Brazil. •Tax incentives : World Cup – Law 12350/2010; Olympic Games – Law 12780/2013.Vera Dantas, Noronha Advogados, London 6vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  7. 7. 4. The Rio 2016 tendering process   Visit : www.rio2016.org.br/en and portaldesuprimentos.rio2016.com •International Invitations to Bid made pursuant to Law 8666/93 (public biddings) and other applicable legislation. •Possibility of forming a consortium : regulated by the Brazilian Company law (6404/76). Parties in a consortium are jointly liable for their obligations towards the public authority (Law 8666/93, art 33 V). Leadership shall always be vested on the Brazilian company.Vera Dantas, Noronha Advogados, London 7vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  8. 8. CONDITIONS FOR THE PARTICIPATION IN THE INVITATION TO BID – two phases 1. Qualifying process – legal, technical, financial and tax and labour qualification requirements must be met (art 27). 2. Commercial Proposal, after phase 1 above.  •The Company, or companies under a Consortium must, in the same qualifying envelope, independently by each member, present all the documents required to meet the qualification requirements.Vera Dantas, Noronha Advogados, London 8vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  9. 9. • QUALIFYING PROCESS • LEGAL QUALIFICATION : • Example of documentation required: act of incorporation, by-laws or articles of association in force, duly registered, in the case of a commercial company. In the case of a public company, also the documents electing the company’s administrators.Vera Dantas, Noronha Advogados, London 9vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  10. 10. • TAX AND LABOUR QUALIFICATION • Example of documentation required: evidence of holding a valid tax number – CNPJ, issued by the Brazilian Treasury Department; evidence of regularity with the National Social Security Institution (INSS), through the presentation of a certificate attesting to the non existence of debts; evidence of regularity with the Mandatory Fund for Unemployment Benefit (FGTS), through the presentation of a certificate attesting regularity with the institution; evidence of regularity with the Federal Treasury as regards payment of taxes; etc.Vera Dantas, Noronha Advogados, London •   10vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  11. 11. • FINANCIAL QUALIFICATION: • Example of documentation required: Balance sheet and accounting statements for the last fiscal year, capable of evidencing the company’s good financial standing, the substitution of the said documents by interim balance sheets or temporary balances being expressly forbidden; certificate attesting that the company is not in a bankruptcy or liquidation process, issued in the place where the company has its headquarters, less than 90 (ninety days) before the date when the envelopes will be opened.Vera Dantas, Noronha Advogados, London 11vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  12. 12. • TECHNICAL QUALIFICATION • Example of documentation required: evidence of registration and regularity as to the standing of the company or companies and its/their technical representatives with CREA – Conselho Regional de Engenharia, Arquitetura e Agronomia (self-regulating body of the Engineering, Architecture and Agronomy professions). Evidence of the operational capability of the performing company or companies – with characteristics, quantities and time frames – which are compatible with the object of the Invitation to Bid.Vera Dantas, Noronha Advogados, London 12vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  13. 13. Article 32 of Law 8666/93 : foreign companies shall attend the requirements to the possible extent. All documentation must be legalized at the Brazilian Consulate and sworn translated. Foreign companies must have legal representatives in Brazil with powers to receive service of process.Vera Dantas, Noronha Advogados, London 13vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  14. 14. • COMMERCIAL PROPOSAL Bidders shall present an envelope containing their COMMERCIAL PROPOSAL. They will be disqualified if their commercial proposal fails to present any of the requested data. The grades to be attributed to each of the commercial proposals of companies or consortium formed by companies classified in the previous phase of the present bidding process will be defined in accordance with the criteria defined in the Invitation to Bid.Vera Dantas, Noronha Advogados, London 14vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br
  15. 15. Thank you Vera Dantas Noronha Advogados, London Phone: (20) 7581-5040 vmd@noronhaadvogados.com.br www.noronhaadvogados.com.brVera Dantas, Noronha Advogados, London 15vmd@noronhaadvogados.com.br www.noronhaadvogados.com.br

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