On Wednesday (July 1, 2020), Normative Instruction No. 81 of the National Department of Business Registration and Integration (DREI) came into effect (“IN DREI No. 81/2020”), marking a significant milestone aimed at facilitating daily business operations in the country. This initiative is part of the simplification and deregulation agenda implemented by the Economic Freedom Law.

The main innovation encompassed in IN DREI No. 81/2020 is the consolidation of the general rules for public registration of companies into a single document, as well as the review of guidelines issued by DREI since 2013 regarding business registration regulation and all applicable legislation. As a result, a total of 56 norms were revoked, including 44 normative instructions and 12 circular letters.

Additionally, it is important to note that, from now on, the acts of establishment, amendment, and dissolution of individual entrepreneurs, EIRELI (Single Member Limited Liability Company), and limited liability companies, as well as the establishment of cooperatives, must be automatically approved when entrepreneurs choose to adopt a standard instrument as established by DREI. Finally, in a move against bureaucratization, the notarization and authentication of copies by notaries of any documents submitted for filing with the commercial registries are no longer required.

The full text of IN DREI No. 81/2020 can be accessed at the following link.

Our Corporate team is available for further information.