What is a Certificate of Formation/Social Contract?

  • Updated

A social contract is a legal document that is used in Brazil to form a sociedade limitada, the business entity that is most commonly used by small businesses in Brazil. The social contract set forth the rights, responsibilities, and obligations of the owner or owners of a sociedade limitada It is a fundamental requirement for opening a business bank account. 

Currently, Higlobe limits business accounts to sociedades limitadas that have only one owner/shareholder. If your sociedade limitada has more than one owner or shareholder, it cannot currently be used to open a Higlobe account. 

Please work with a well-qualified Brazilian attorney or accountant who you trust when forming your business entity, and please make sure that your social contract is complete before submitting it to Higlobe.  Submitting an incomplete or inaccurate social contract will lead to delays in opening your Higlobe account. 

We do not accept:

  • Screenshots of web pages about your business
  • Account statements from other institutions
  • Personal documents of the owner/shareholder
  • Documents invalidated by the government
  • Any documents, photos, or files other than the Social Contract itself.

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