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The importance of registering with the Board of Trade for new businesses

If you’re starting a new business, you’ll certainly have to deal with a series of bureaucratic procedures, and one of the most important is registering your company’s corporate acts with the Board of Trade.

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The Board of Trade is a public body responsible for registering and supervising business activities in a specific state. Its main role is to ensure that companies are operating in accordance with the current regulations.

Registration and maintenance of documents in the Board of Trade are mandatory for all companies wishing to operate legally. Beyond regularization, registration also offers a series of benefits.

Registration with the Board of Trade guarantees legal certainty, since it makes the company a legally recognized entity, establishing its operating rules. It also protects the owners personally, as in the case of a Limited Liability Company, which limits the financial liability of the individual in relation to the legal entity, separating the company’s assets in the event of debts or legal disputes.

It also increases the company’s credibility with its business partners. Thus, access to credit is facilitated, as many financial institutions require registration with the Board of Trade as a prerequisite for granting credit. This is because, in order for a company to be legally constituted, it must be registered with the Board of Trade.

What is the registration process at the Board of Trade like?

The process of registering with the Board of Trade can vary according to the type of company and local legislation, but generally follows these steps:

(i) Prior feasibility consultation and preparation of documents: before starting registration, it is advisable to carry out a prior feasibility consultation to check that the desired name for the company is available and that there are no legal impediments to its use. To do this, we recommend checking the INPI (National Institute of Industrial Property).

(ii) Next, you need to prepare the documents required for registration, which may include the company’s articles of association or bylaws, the partners’ personal documents, proof of address, among others, depending on the type of company and local legislation.

(iii) It is also necessary to check the National Classification of Economic Activities (CNAES) and the corporate purpose that will be entered as the company’s main activity and secondary activities.

(iv) Filing with the Board of Trade and analysis and approval: the necessary documents are filed with the Board of Trade in the region where the company will be registered.

After this, the documents are analyzed by the Board of Trade to check that they comply with the legislation and that there are no irregularities. If approved, the company receives a Company Registration Identification Number (NIRE).

After registration, it is important to keep the company regularized, fulfilling its legal obligations, such as paying taxes, submitting declarations and reports to the competent bodies, and renewing licenses, as required by law.

It’s important to note that the process of registering with the Board of Trade can be complex and requires the help of specialized professionals, such as lawyers or accountants, to ensure that everything is done correctly and within the law.

Here at Pryor Global, we have a sector dedicated to paralegal services, designed to streamline processes in public and private bodies throughout Brazil, such as registering and legalizing companies with the Board of Trade.

This type of bureaucratic process can be outsourced by our team, allowing your company’s professionals to focus more on core activities.

Contact us and find out how we can help you!

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