The Provisional Measure (PM) 1040/2021 was approved by the Chamber of Deputies on June 23rd and now it goes to the approval of Senate.

Among the new changes proposed to eliminate the requirements and simplify the opening and operation of companies, the following are highlighted :

- automatic issuance of license and business permit for activities considered as medium risk

- the registration at CNPJ eliminates the need for additional data collection by the States, Federal District and Cities

- maintenance of the electronic registration and legalization process of companies

- use of the federal risk classification of activities by States and Cities that do not have their own classification

The PM also contemplate other issues such as the protection of minority shareholder, foreign trade facilitation, among other measures.

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