Although Brazil already excels at certain medical interventions and procedures, the country still has a great deal of room for growth in various areas, such as the development of medical infrastructure and equipment.
Situation
A returning client operating in the healthcare sector had started up its own branch in Brazil and wished to register its starting capital (“Capital Inicial”) with Sisbacen, an electronic application belonging to the Brazilian Central Bank. Amongst other things, this registration ensures that an eventual repatriation of the capital or dividend payment can be made without difficulty, and also means that the costs of this can be reduced. In order to do this, the client had initially contacted the banking institution, which, however, had only carried out the first phase of the registration. The client then contacted Belofloripa and asked them to take over the dossier.
Belofloripa’s Approach
An analysis of the banking institution’s report uncovered that one section had not been completed correctly, and that another part (over 60% of the registration) had not been filled-in at all. It was therefore necessary to correct the mistakes and to fill-in the necessary details via Sisbacen so that the business’s starting capital could be correctly registered as Foreign Capital.
Results
Belofloripa’s intervention ensured that, once the faults had been corrected, the registration of the starting capital, including the updating of the RDE-IED forms, could be flawlessly submitted. This means that future repatriation of the capital without additional costs is guaranteed. If no registration had been carried out, these costs could be as much as 33% of the total amount.