Types of Companies in Brazil (2026): Ltda., SLU & S.A.

By EasyCo Updated October 9, 2026

The most common types of companies in Brazil for foreign investors are the Sociedade Limitada (Ltda.), including its single-partner version (SLU), and the Sociedade Anônima (S.A.). Foreign companies can also open a branch, with federal authorization. All of them register with the Junta Comercial of their state and receive a CNPJ from the Receita Federal in the same process. For the full step-by-step process, see how to open a company in Brazil.

1. Sociedade Limitada (Ltda.), recommended for foreign founders

One or more partners, who can be individuals or companies of any nationality. Foreign partners need a Brazilian CPF (individuals) or CNPJ (companies)
No legal minimum capital, except for some regulated activities
Capital is divided into quotas. Each partner’s liability is limited to their quotas, but all partners are jointly liable until the capital is fully paid in (Código Civil, art. 1.052)
Run by one or more administrators, who are individuals and don’t need to be partners
The name ends in “Limitada” or “Ltda.”

Best for: most foreign-owned operating subsidiaries and service companies. It is the most common company type in Brazil.

2. Sociedade Limitada Unipessoal (SLU)

A limited company with a single partner, allowed since 2019 (Lei 13.874/2019)
The partner can be an individual or a company, Brazilian or foreign
No legal minimum capital and no limit on how many SLUs one person can own
Same rules as the Ltda. for management and liability

Best for: a foreign parent company that wants to own 100% of its Brazilian subsidiary without a second partner.

What happened to the EIRELI? The EIRELI (empresa individual de responsabilidade limitada), which required capital of 100 minimum wages, was abolished. Lei 14.195/2021 converted every existing EIRELI into an SLU, and new ones can’t be formed.

3. Sociedade Anônima (S.A.)

At least two shareholders (Lei 6.404/1976, art. 80), unless it is the wholly owned subsidiary of a Brazilian company (art. 251)
At least 10% of the capital subscribed in cash must be paid in and deposited in a bank before registration
An executive board (diretoria) with one or more officers (art. 143). A board of directors is mandatory only for listed companies, companies with authorized capital and mixed-capital companies (art. 138)
A fiscal council is required by law, but it doesn’t have to sit permanently unless the bylaws say so
Shares are freely transferable unless the bylaws restrict them. A closed S.A. (fechada) is not listed; an open S.A. (aberta) is registered with the CVM and can trade on the stock exchange
Higher running costs than an Ltda., including the publication of financial statements and corporate acts

Best for: companies that will raise outside investment, issue different classes of shares or plan to list. Some regulated activities, such as credit fintechs, must be an S.A.

4. Branch of a foreign company

Needs prior authorization from the federal government before it can operate (Código Civil, arts. 1.134 and 1.135)
Must keep a permanent representative in Brazil with full powers to act for the company
Uses the same name as the parent company, which is liable for its obligations

Best for: rarely chosen. The authorization adds time and paperwork, so most foreign groups open an Ltda. or SLU subsidiary instead.

Quick comparison

	Ltda. / SLU	S.A.	Branch
Minimum owners	1	2 (1 if wholly owned by a Brazilian company)	Foreign parent
Minimum capital	None by law	None by law; 10% of cash capital paid in at formation	Capital assigned by the parent
Management	One or more administrators	One or more officers, plus a board of directors in some cases	Resident representative
Prior authorization	No	No (except regulated activities)	Yes, federal
Simples Nacional	Not available if a partner lives abroad or is a company

Rules that apply to every type

Foreign partners: each one needs a CPF or CNPJ, and partners who live abroad must appoint an attorney resident in Brazil to receive service of process.
Administrators: they can live abroad if they appoint a Brazil-resident representative (Lei 14.195/2021 and IN DREI 112/2022). In practice, someone in Brazil with a CPF and a digital certificate handles filings and banking. See legal representation in Brazil.
Address: a physical registered address in Brazil is required, stated in the articles.
Tax: the company gets a CNPJ and chooses between lucro real and lucro presumido. See our guide to corporate tax in Brazil.
Foreign investment: capital from abroad is declared to the Banco Central do Brasil in its SCE-IED system.