Brasil Fernandes Advogados
New Brazilian Law facilitates the creation of Startups
Sanctioned at the end of April, Complementary Law no. 167/2019 created the Simple Credit Company and Inova Simples, two institutes that promise to give different treatment in the creation, formalization, development, and consolidation of Startups in Brazil.
The three main strengths of Inova Simples are: a) opening and generation of the CNPJ directly through the internet, b) automatic company shutdown in case of inactivity, c) flexibility and freedom to work within educational institutions, coworking spaces, technology parks and accelerators, and d) creation of an automatic integration channel with INPI for the realization of industrial property registries (e.g., trademarks).
In this way, Startups will no longer have to rent a space with a fiscal address only for the purpose of issuing CNPJ, which gradually reduces the initial costs for opening and maintaining the company.
In addition, it is important to emphasize that the companies constituted in the form of Startup, will have a special tax regime simplified. The standard changed art. 17 of the National Simple Law (Complementary Law 123/2006) excluding the companies "constituted" as Startups of the list of opponents of the National Simples.
The limit for the experimental commercialization of products or services is R$81,000.00 reais, but it is not yet known how this revenue from the validation stage will be taxed.
The Law defines as Startup, innovative companies that stimulate technological advances, improve existing activities, methods, systems, and business models, being disruptive in their performance.
As a novelty, we believe that we will still have a long way to go in terms of the adequacy and operation of the new law. We hope that the changes brought bring good results to the companies of innovation and technology and advance even more in the current economic scenario.
 Disponível em: http://www.planalto.gov.br/ccivil_03/leis/lcp/Lcp167.htm; último acesso em 09 de maio de 2019.