Compliance In Brazil: What Makes This A Complex Environment?

Ranked second in TMF Group's Global Business Complexity Index (GBCI) 2020 and fourth in our Rules, Regulations and Penalties report, Brazil can be a difficult market in which to do business. Here's what's contributing to the complexity.

Long incorporation times, varying regional requirements and intricate tax and accountancy rules all play a role in making Brazil a challenging compliance environment.

Incorporation complications

The Americas region is highlighted in the GBCI report as having some of the longest incorporation times for private companies and businesses can be required to interact with multiple bodies to set up. In Brazil, this process can take up to 20 business days or more, depending on the type of activity to be developed.