Minimum and maximum number of directors and shareholders
Brazil
Limited liability company (Sociedade Limitada)
There must be a minimum of one quotaholder, and no maximum number of quotaholders. For managers, the minimum number is one.
Corporation (Sociedade Anônima)
There must be a minimum of two shareholders, and no maximum number. Exception is made to the incorporation of a whole owned subsidiary (sole shareholder company) provided that the incorporation must be made through a public deed and the sole shareholder must be a Brazilian company. For directors, if any, the minimum number is three, while there is no maximum number. For officers, the minimum number is two, and there is no maximum number.
Note: As mentioned above, the solely-owned business form named Empresa Individual de Responsabilidade Limitada (EIRELI), which required a minimum initial capital stock of equivalent to 100 times the highest minimum wage in force in Brazil to be paid in on the incorporation date, became extinct and the existing EIRELIs were transformed into solely-owned Sociedades Limitadas.
Download PDF