Positioning of the SPA/MF Requirement for a Brazilian partner holding 20% of the corporate capital of the Legal Entity

The Prizes and Betting Secretariat of the Ministry of Finance disclosed, through the FAQ, that "the requirement to have a Brazilian as a partner holding at least 20% of the corporate capital of the requesting legal entity, can be fulfilled by both the participation of Brazilian natural persons and Brazilian legal entities". A Brazilian legal entity is understood to be a legal entity established under Brazilian law and having its headquarters and administration in the country.”

Therefore, the requirement provided for in item IX of § 1 of art. 7 of Law No. 14,790 can be fulfilled both by Brazilian legal entities and by natural persons.

Check out our page dedicated to Regulation in Brazil and the Summary of SPA/MF Ordinance 827/24 to stay updated on all developments.

Contact rafael@octus.pt for more details.

Rafael Biasi
Legal Affairs
Octus Legal iGaming