Brazil

Why Brazil

• Scale in one countryWith 213 million people, Brazil is a large market on its own, and it draws more foreign direct investment than any other country in Latin America and the Caribbean.
• Buyers used to digital paymentsPix is used by 148 million people and about half of active companies, so customers expect local, real-time payment and invoicing from day one.
• Public support for foreign startupsApexBrasil runs Next Gen, a free soft-landing program for foreign innovative companies, and states such as São Paulo have their own investment agencies.

Source: UNCTAD, World Investment Report 2026 · ApexBrasil, Next Gen

Priority sectors

Source: Invest in Brasil (ApexBrasil)

How companies enter

1. Step 1Soft landingA first stay in São Paulo with booked meetings, or a place in ApexBrasil's free Next Gen program, to test demand and meet partners.
2. Step 2Pilot or partnerA paid pilot with a local client, or a reseller or distribution partner, often still billed from abroad while you learn local tax and invoicing rules.
3. Step 3Local companyA Brazilian LTDA (sociedade limitada), registered at the state Junta Comercial and given a CNPJ tax number, once there is revenue or a team to hire.

Founders who invest their own funds from abroad in a Brazilian company can apply for a residence authorization for investment under the Migration Law (Law 13,445/2017), filed with the Ministry of Justice through MigranteWeb.

Source: Ministry of Justice, residence authorization · Ministry of Justice, MigranteWeb

Costs to plan for

• Company setup: LTDA articles, Junta Comercial registration and a CNPJ for the company and for each foreign partner
• Registration of foreign capital with the Banco Central and currency exchange costs
• Accounting and tax compliance, including the new CBS and IBS consumption taxes, phased in from 2026 to 2033
• Payroll charges on top of salaries, and office or coworking space, highest in São Paulo

Source: PwC Tax Summaries, reviewed Sep 2026 · Fazenda MG, tax reform

Who can help