Registering Contracts have become simpler in Brazil

In July, the resolution 70/2017 was published by Brazilian Patent and Trademark Office (BPTO). In accordance with this new resolution, BPTO is not obliged to analyze the content of the contracts to register them.

In Brazil, the registration of contracts in BPTO is mandatory in order to remit royalties to foreign companies. Prior to this resolution, BPTO used to examine the contracts and the amount of payments. There could be a rejection based on the amount of the royalties to be paid. This procedure used to delay the registration of the contracts and without the registration the payments to foreign companies were not permitted.

Now, the registration has become simpler and faster, BPTO examines the formal aspects of the contracts and emit a registration certificate at latest within 01 month. Meantime, a safeguard is made: ”BPTO does not examine the contract in accordance with the tax legislation, tax legislation and remittance of capital abroad legislation”.

 

Laila Reis Araujo

Attorney at law in Peduti

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