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Limited liability companies: yearly approval of financial statements

Atualizado: Jun 24

According to article 1.078 of the Brazilian Civil Code, limited-liability companies must meet, at least, once a year, within the four months following the end of their fiscal year to:

  1. Take the management accounts and resolve on the financial statements for the year ended December 31;

  2. Appoint administrators, when applicable;

  3. Deal with other matters on the agenda, if applicable.

The documents mentioned in item I above, must be made available to the partners up to 30 days before the date of the partner´s meeting, upon written notice, with proof of receipt by the partners.

The respective minutes of the shareholders' meeting must be registered before the Trade Board, within 20 days of the date of the meeting.


The annual partners' meeting for the approval of the management accounts is essential for the exemption of the responsibility of the managers.

Rhein Advogados has a specialized team to clarify any doubts, as well as assist the partners and administrators of the companies in the execution of the meeting and preparation of the necessary documents for registration before the competent Trade Board.

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