Although the world is becoming much more digitized, paperwork still constitutes a substantial part of daily business life
Bureaucracy. Companies operating in complex regulatory environments know what it is. Filling out forms, sending documents, updating registration, to name just a few examples of activities that every company is required to perform in order to operate legally in the country. Although many people imagined that technology would determine the end of bureaucratic processes in business environments, little has changed.
Whether for good or bad, the fact is that bureaucracy exists and needs to be respected. Failure to follow any step of the bureaucratic process can have serious consequences for companies that want to operate in a country like Brazil, whose regulatory environment is complex. To help them comply with these rules, companies can count on the help of paralegal services.
Paralegal services cover a wide range of tasks, but mainly smaller legal issues such as reviewing, organizing, and processing documents at the responsible agencies. Although the world is becoming much more digitized, paperwork still constitutes a substantial part of daily business life.
By outsourcing paralegal services, companies can reduce operating expenses and, at the same time, increase their efficiency. After all, they will have at their disposal specialized professionals who know the legal procedures with public and private agencies for the acquisition of permits and licenses, submission of supporting documentation, filling out information on the platforms, among others.
The scope of services depends on the client’s type of business.
Federal Revenue suspends CNPJ of foreign companies with outdated registration
A task as simple as updating the company’s registration can determine the suspension of the CNPJ (National Register of Legal Entities) of foreign companies operating in Brazil. The Federal Revenue (RF), in accordance with the legal provision COCAD Ordinance No. 5119/2021, has verified and suspended the registration of foreign companies with an active registration, but which have failed to update information such as legal representative and final beneficiaries.
Companies whose CNPJ has been suspended cannot carry out activities with the Brazilian authorities, nor issue federal certificates, which impairs their operations in the country. To regularize their status, they must update their registration through an administrative process, which can be requested from the legal representation service provider.
Pryor Global’s paralegal team provides support in the preparation of Basic Entry Documents (DBEs), articles of incorporation before the commercial board and public entities, updating on the Shareholders and Managers Chart (QSA) and other certification and updating services, as well as the Declaration of Final Beneficiary. Contact us for more information.