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Brazil releases airline sector to foreign capital

In last June, the full Chamber of Deputies of Brazil approved an executive order allowing foreign investors up 100% ownership of Brazilian airlines, compared to the current 20% limit.

The approved order stipulates that foreigners can hold up to 100% stake of a Brazilian airline through bilateral reciprocity agreements, meaning that the investor's country of origin also allows Brazilians to acquire 100% ownership.

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According to Adam Global President for Latin America, Mr. Marcus Buschmann, the decision will show the world that Brazil will defeat the crisis and be much friendlier to foreigner capital. Therefore Brazil can also receive more international companies that want to operate the Brazilian market.

Brazil will become, along with countries like Chile and Singapore, one of the few nations that give total freedom to foreigners to control national carrier.

About the author

Marcus V. Buschmann

President for Latin America of Adam Global, Partner of Buschmann & Associados Advogados. For more than 15 years Mr. Buschmann is helping international clients to establish business and navigate in the Brazilian legal and economic scenario. Buschmann & Associados - Advogados e Consultores Av. Rio Branco, nº 177, 20º Andar, Centro Rio de Janeiro - RJ - Brasil - CEP: 20.040-007 Telefax: +55 21 2240-3936 Mobile: + 55 21 99115-4296 www.bea.adv.br


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