Brazil is a key destination for Foreign Direct Investment (FDI), offering a relatively open legal framework compared to many other countries. While there are specific regulations for certain sectors, the overall structure prioritizes clarity and accessibility. This newsletter provides an overview of the main legal and regulatory aspects governing foreign investments in Brazil, emphasizing the technical details to help investors aiming to invest in this jurisdiction to navigate the opportunities effectively.
巴西是外国直接投资（FDI）的重要目的地，与许多其他国家相比，其法律框架相对开放。虽然某些行业有特定法规，但整体结构优先考虑清晰性和易懂性。本期通讯概述了巴西外国投资的主要法律和监管规定，强调法律技术细节，以帮助计划在该司法管辖区投资的投资者有效把握机会。
 
The limited scope of investment restriction
投资管制范围有限
 
Brazil does not have a centralized Foreign Investment Law or National Security Law imposing restrictions on foreign economic presence. Instead, specific regulations are targeted to a few areas of national interest, which include Nuclear Energy, Aerospace, Telecommunications, and Postal Services.
巴西没有统一的《外国投资法》或《国家安全法》来限制外国经济活动的存在。相反，特定法规仅针对核能、航空航天、电信和邮政服务等少数关乎国家利益领域。
 
Regarding real estate and land acquisition, while foreign individuals and companies can purchase real estate in Brazil, certain limitations apply. In rural areas, foreign ownership is capped at 25% of the land in the same municipality. Additionally, lands within 150 kilometers of Brazil’s borders are classified as a frontier zone, subject to heightened national security.
关于房地产和土地购买，虽然外国个人和公司可以在巴西购买房地产，但有一定限制。在农村地区，外国所有权被限制为不超过同一市区土地的25%。此外，距巴西边境150公里以内的土地被划定为边境区，并受到更严格的国家安全规定约束。
 
These restrictions are narrowly focused, leaving most sectors open to foreign investors under straightforward legal and regulatory conditions.
这些限制的范围较窄，在简单明了的法律和监管条件下，大多数行业对外国投资者开放。
 
Streamlined Foreign Direct Investment Regulations
简便的外国直接投资法规
 
Foreign investment in Brazil is governed by a regulatory framework that prioritizes simplicity. Unlike jurisdictions requiring prior approval for FDI, Brazil follows a registration-based system through the Central Bank of Brazil. Key aspects include:
巴西的外国投资受监管框架管理，该框架优先考虑简化程序。与需要事先批准FDI的司法管辖区不同，巴西采用基于注册的系统，通过巴西中央银行进行管理。主要内容包括：
 
- SCE-IED Registration: Investments must be registered in the Central Bank’s FDI system (SCE-IED). The system tracks monetary and non-monetary contributions, including goods and equipment introduced without initial currency expenditure.
- SCE-IED注册： 投资必须在中央银行的FDI系统（SCE-IED）中注册。该系统跟踪货币和非货币出资，包括无需初始货币支出的商品和设备。
 
- Reporting Requirements: Depending on the value of the investment, companies must update their registration at different intervals, as below. Also, some corporate transactions such as shares acquisition might trigger the need of additional fillings.
- 报告要求： 根据投资金额，公司必须在不同的时间间隔更新其注册，如下所示。此外，一些企业交易（如股权收购）可能需要额外提交文件。
 
o Investments up to BRL 100,000 (≈ CNY 122,000): Every five years.
o 投资金额最高为10万巴西雷亚尔（约合12.2万人民币）：每五年更新一次。
 
o Investments exceeding BRL 100 million (≈ CNY 122 million): Annually.
o 投资金额超过1亿巴西雷亚尔（约合1.22亿人民币）：每年更新一次。
 
o Investments over BRL 300 million (≈ CNY 366 million): Quarterly.
o 投资金额超过3亿巴西雷亚尔（约合3.66亿人民币）：每季度更新一次。
 
Taxation and Profit Remittance
税收与利润汇出
Brazil’s approach to taxation and profit remittance is another noteworthy aspect of its regulatory landscape, and a fundamental aspect for those intending to invest in a foreign jurisdiction. After meeting local tax obligations, foreign investors can remit profits to their headquarters without additional taxes. Also, Brazil allows unrestricted foreign currency trading, giving investors flexibility in managing their financial operations.
巴西对税收和利润汇出的处理是其监管框架的另一重要方面，也是计划在国外投资的企业的重点关注的问题。在履行当地税务义务后，外国投资者可以将利润汇至其总部而无需额外缴税。此外，巴西允许自由的外汇交易，为投资者在管理财务运营方面提供灵活性。
 
Incorporation procedures
注册程序
Investors are required to register in the Federal Revenue Office to obtain a Taxpayer Registration Number (CNPJ) and declare their ultimate beneficial owners.
投资者必须在联邦税务局注册以获取纳税人注册号（CNPJ）并申报其最终受益人。
 
Foreign entities must nominate a local representative to represent the company in case of a legal or administrative procedure.
外国实体必须指定一名本地代表，在法律或行政程序中代表公司。
Conclusion
结论
For foreign investors, understanding these and other regulations is key to leveraging Brazil's economic potential. Our law office, in cooperation with our international partners, is prepared to provide comprehensive guidance, ensuring compliance and facilitating smooth investment processes.
对于外国投资者而言，了解这些及其他法规是充分利用巴西经济潜力的关键。我们律师事务所与国际合作伙伴共同努力，提供全面指导，确保合规并促进顺利的投资流程。
 
任何投资巴西问题，欢迎咨询我们
 
By Felipe Carneiro Ribeiro de Assis
PK Advogados