DISSOLUTION OF THE BRANCH
We assume responsability for the closing down of the company.
Sometimes, an adverse situation leads the parent to decide to leave the Brazilian market and liquidate its subsidiary. In these cases, we also support the client with our administrative services and assume the necessary mandates during the downsizing period, until the company is ready to close.
The following legal positions are mandatory for the liquidation of a subsidiary and must be defined in the statutes and registered in the commercial register:
The attorney-in-fact authorized by the foreign shareholder, who by resolution of the shareholders, submits the dissolution of the subsidiary to the local tax authority
The liquidator, appointed by the shareholders, who is authorized to settle the company's liabilities, convert the company's assets into cash and close the company with government agencies.
In addition, you must keep the company's books for at least 5 years and represent the company before the Federal Revenue Service and the Ministry of Labor.