Important Basic Information on Investing in Brazil
I - POWER OF ATTORNEY
A foreign investor must appoint attorney(s)-in-fact residing in Brazil and expressly empowered, among other things, to open companies, to exercise voting rights on the Grantor's behalf in corporate decisions, to act as representative before the appropriate authorities and agencies, especially the Central Bank of Brazil, and to receive service of process as per art. 119 of the Corporations Act (Lei das S/A).
The power of attorney must be signed by the Grantor-if an individual-, or by the representatives-if a legal entity-, notarized locally and legalized by the nearest Brazilian consulate; and, in Brazil, translated and recorded at a Notary Office.
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