Gaming

Prizes and Betting Secretariat defines understanding regarding 20% of Brazilian partner

Monday 10 de June 2024 / 12:00

⏱ 1 min read

(Sao Paulo).- The Prizes and Betting Secretariat of the Ministry of Finance – SPA-MF defined Thursday afternoon the interpretation that will be applied in the authorization process in relation to the provision that requires the applicant legal entity to have a Brazilian as a partner holding at least 20% of its share capital.

Prizes and Betting Secretariat defines understanding regarding 20% of Brazilian partner

According to the SPA, the requirement to have a Brazilian as a partner holding at least 20% of the share capital of the applicant legal entity can be met both by the participation of Brazilian natural persons and by Brazilian legal entities. Brazilian legal entity means a legal entity constituted under Brazilian laws and which has its headquarters and administration in the country.

“The SPA's interpretation ends a long cycle of discussion about meeting the requirement for participation of Brazilian partners in companies operating sports betting and online games. Compliance with this requirement can be done through subsidiary companies wholly owned by foreign partners, simplifying the rules for holding corporate participation”, explains lawyer Luiz Felipe Maia.

Categoría:Gaming

Tags: Sin tags

País: Brazil

Región: South America

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