DREI publishes new Normative Instruction simplifying public registration of companies, aiming at the debureaucratization of procedures

The National Department of Corporate Registry and Integration (“DREI”) published, on June 15, 2020, Normative Instruction of DREI No. 81 (“NI DREI No. 81”), unifying, in a single normative, all rules applicable to the process of incorporation, amendments and dissolution of Individual Entrepreneurs, Individual Limited-Liability Companies (“EIRELI”), companies and cooperatives.

The NI DREI No. 81 aims at simplifying the procedures required for the regularization of companies. Among the innovations, we highlight:

(a) The exemption from notarization of signatures, and certified copies (including powers of attorney) for filing within the Commercial Registries;

(b) The possibility of using foreign words in the corporate name of companies;

(c) The exemption from the obligation to indicate the corporate purpose in the corporate name;

(d) The possibility of transforming cooperatives and associations into companies;

(e) The possibility of automatic registration of articles of association, amendments and dissolution of individual entrepreneurs, EIRELIs, limited-liability companies and, incorporation of cooperatives, as long as they meet the requirements set forth in the regulation; and

(f) The changes to the procedure for canceling corporate acts, in the event of forged signatures.

The Ministry of Economy, by standardizing these regulations, intends to streamline the services offered to companies and, in this way, make the economic scenario even more conducive to business.

The Corporate Law Department of Kestener & Vieira Advogados is available to provide any further information required on this subject.

Fabio Alonso Vieira
Phone.: +55 11 3149-6111
fabio.vieira@kvlaw.com.br

This article is intended exclusively to provide information and does not contain any opinion, recommendation or legal advice from Kestener & Vieira Advogados in relation to the matters herein addressed. Copyrights are reserved to Kestener & Vieira Advogados.