New Normative Instruction from DREI simplifies the general rules of public company registration

This Wednesday ( July 1, 2020) the Normative Instruction No. 81 of the National Department of Business Registration and Integration - DREI ("IN DREI No. 81/2020") came into effect, a significant milestone that has the practical effect of facilitating day-to-day business in the country. The initiative is part of the simplification and debureaucratization agenda implemented by the Economic Freedom Law.

The main novelty embraced in IN DREI no. 81/2020, deals with the consolidation in a single document of the general rules of public company registration, and the revision of the guidelines issued by DREI, since 2013, on the regulation of business registration and all applicable legislation. Thus, in total, 56 norms were revoked, being 44 normative instructions and 12 circular letters.

In addition, it is worth noting that, from now on, the acts of incorporation, amendment, and termination of sole proprietorship, EIRELI, and limited liability company, as well as the incorporation of a cooperative, must be approved automatically when entrepreneurs opt for the adoption of a standard instrument, in the manner established by the DREI. Finally, contrary to bureaucratization, the certification of signatures and authentication of copies by notaries of any documents submitted for filing with the commercial registries is now waived.

The full text of IN DREI no. 81/2020 can be accessed via this link. Our Corporate team is at your disposal for further information.