Annual Obligations of Brazilian Companies
(VOLTAR)Patricia Rodrigues da Silva and Vera Lucia Izidio GregórioEvery limited liability commercial company and corporation in Brazil (the “Companies”) shall fulfill certain annual obligations with respect to their financial and economic situation in connection with the preceding fiscal year until April 30th.
These obligations refer basically to the approval of the Companies’ financial statements and management reports, and their respective disclosure to the market (when applicable) and to the Brazilian Central Bank.
At least once a year, within the first 4 (four) months of every fiscal year, a stockholders’ meeting must take place in order to, among other matters, discuss and approve the Companies’ financial statements and management reports.
Several formalities and legal requirements shall be met in order to ensure the validity and effectiveness of this resolution, especially regarding to the call, installation and the filing of the registration request of the minutes of said meeting, as well as and publication of the corresponding resolutions and the financial statements (if necessary). Such formalities may vary according to corporate type, the Companies’ size, and the provisions in their articles of association.
Fraga, Bekierman & Pacheco Neto has a team prepared to fulfill the abovementioned obligations, and remains available to render any assistance in this regard.