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Brazil’s startup legal framework sanctioned and comes into force

RIO DE JANEIRO, BRAZIL - Brazil's President Jair Bolsonaro, on Tuesday, June 1, sanctioned a bill establishing the Legal Framework for Startups and Innovative Entrepreneurship. The measure aims to foster the creation of innovative companies in their business model, product or service. The legislation was passed by the National Congress on May 11.

According to the new law, which now comes into force, startups are considered to be business or corporate organizations engaged in innovation applied to the business model or the products and services offered.

These companies must have annual gross revenue less than R$16 (US$3.1 . . .

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