Entrepreneurship is a dream for many people. Data from the latest report by the Global Entrepreneurship Monitor (GEM), the world’s leading survey on entrepreneurship, which is supported by the Brazilian Micro and Small Business Support Service (Sebrae), reveals that having their own business is the third biggest dream of Brazilians, second only to buying their own home and traveling around Brazil, respectively.
The desire to have your own business can arise from the desire for more autonomy or the perception of a market opportunity, for example. In a country as diverse as Brazil, there is no shortage of promising ideas. But to turn them into reality, the path can be more complex than you might think.
The first obstacle is usually cost. Starting a business in Brazil involves a series of expenses that go beyond the initial idea. Registration fees, issuing certificates and permits are just a few examples. According to a survey by Serasa Experian, the cost of starting a business in 2024 ranged from R$ 500.00 to R$ 3,000.00, not counting indirect expenses.
In addition to costs, bureaucracy is also a point of attention. The opening process can require various registrations and authorizations. It all starts with defining the legal nature (MEI – Individual Microentrepreneur, EI – Sole Proprietor, Simple Partnership, or Limited Liability Company), followed by registering with the Board of Trade, obtaining a CNPJ from the Internal Revenue Service, state and/or municipal registrations, choosing a tax regime (Simples Nacional, Actual Profit, or Presumed Profit) and applying for operating permits. Depending on the sector, it may also be necessary to obtain environmental, health or specific regulatory licenses.
For foreign companies wishing to enter the Brazilian market, the challenges can be even greater. In addition to the complex local legislation, they have to deal with the language barrier, cultural differences and a tax system that is considered to be one of the most complicated in the world. In these cases, relying on specialized advice is essential to ensure legal certainty, speed in the process and compliance with the country’s rules.
With 30 years of experience in the market, Pryor Global supports domestic and foreign companies wishing to establish or expand their business in Brazil. Our team offers complete support in the process of opening and legalizing businesses, taking care of the main stages.
If your plan is to start a business in Brazil, Pryor is ready to help. Don’t waste time and talk to one of our experts!
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