Role Of The Direct Investments Ombudsman Is Extended

Author:Ms Vera Kanas
Profession:TozziniFreire Advogados
 
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Decree 9770/2019, of April 22nd, 2019, extends the role of the Direct Investments Ombudsman to reach all foreign and national investors.

Initially, the Ombudsman on Direct Investments was created in the scope of the Cooperation and Facilitation of Investments Agreement (CFIA), negotiated by Brazil, and had a role of focal point under these agreements. Until now, Brazil has signed investment agreements with Mozambique, Angola, Malawi, Mexico, Colombia, Chile, Peru, Guyana, Ethiopia and Suriname, besides of a protocol on the facilitation of investments under Mercosur. However, only the agreements with Angola and Mexico are already in force.

With the new Decree, the duties of the Ombudsman were increased.

The Ombudsman will offer support to all foreign investors, providing consultations on general inquiries about legislation and administrative procedures related to investments in Brazil and seeking...

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