Annual Quotaholders/Shareholders Meetings of Limited Liability Companies and Corporations
According to the Brazilian Civil Code and Brazilian Corporations Law, Brazilian Corporations (S/A) and Limited Liability Companies (Ltda), shall hold a General Shareholders Meeting or an Annual Quotaholders Meeting, respectively, within the four months following the end of their corporate year (April 30 for most of companies). The subject matters of the meetings are: (a) approval of the management’s report and financial statements; (b) approval of the destination of the net profit and distribution of dividends; and (c) appointment of the administrators, if it is the case.
In 2020, due to the pandemic, the deadline for holding such meetings was extended. We are monitoring official statements in case a similar extension is granted this year.
IWRCF advises its clients in the preparation and registration of corporate documents to comply with this legal requirement.