It is the time for all foreign companies, big and small, when they have to work with an accounting firm in Brazil. Whether they reside in the South American economic powerhouse, or just open a satellite office there, it doesn't matter. Best accounting practices will inevitably be an important part of any expansion strategy in Brazil.
As Latin America's largest economy and the 9thTh largest in the world, Brazil is a force to be reckoned with. Regardless of how you feel about Brazil's former president, Bolsonaro's administration adopted pro-business policies that helped cut government intervention in the market, took steps to reign in excessive bureaucracy and opened up the Brazilian economy to more foreign participation and investment. The South American hegemon has never looked as attractive to foreign investors as it does today.
What does all this have to do with accounting firms in Brazil? As elsewhere, all economic activity will be taxed, and it can be difficult for foreign companies to comply with regulatory requirements and pay taxes correctly if they try to do it alone. In addition to professional accounting, foreigners must hire on-site attorneys to ensure compliance with all legal requirements to start a business in Brazil.
With hundreds of accounting firms and thousands of CFC qualified accountants out there selling their professional services, how can foreign investors, entrepreneurs and companies new to Brazil know which bookkeeping is right for them?
Top 7 Accounting Firms in Brazil
Here are some of the largest accounting firms in Brazil, according to a number of industry analysts. Many accounting firms provide much more than simple bookkeeping for your business.* Corporate accounting firms in Brazil charge anywhere from $10,000 to $25,000 and up, depending on the size, complexity, and number of hours required to deliver on a project or set of services .
- Gescon Consultoria – This medium-sized company is one of the most reputable accountants in the country and offers corporate accounting, internal audit services and FAO (finance & accounting outsourcing) services.
- CLM Controller – Based in São Paulo, Brazil, this major accounting firm provides accounting, auditing, tax compliance, finance, payroll, HR and other business services.
- Soluta – This firm was founded in 2008 and has grown to become one of the largest Brazilian accountants in the country. With offices in Rio de Janeiro and Suzano, its primary focus is accounting, tax compliance and FAO services.
- Confiare Assessoria Contábil – An accounting and consulting firm based in Rio de Janeiro, this reputable firm provides FAO services, accounting, HR consulting and staffing services to its client companies.
- Mapah – Headquartered in the city of Americano do Brasil, this medium-sized accounting firm in Brazil offers accounting, FAO and business consulting services to large corporate clients and small and medium-sized enterprises (SMEs).
- PwC Brazil – This is a large multinational accounting conglomerate based in Rio de Janeiro. In addition to accounting and auditing, it also serves as tax consultancy for companies in the agricultural, energy, pharmaceutical and automotive sectors, among others.
- Grant Thornton Brazil – Another multinational accounting conglomerate, its Brazilian arm of the company is headquartered in São Paulo. The large team of professionals specializes in accounting, auditing, business advisory, taxation and environmental, social and governance (ESG) compliance.
What kind of services do accounting firms in Brazil offer?
Some of the largest and most well-established accounting firms in Brazil do so much more than bookkeeping (although that is still their bread-and-butter revenue stream) and can provide a full list of business services, such as:
- Accounting services
- Business development and incorporation
- Compliance with tax regulations
- Internal company audit
- Payroll management
- HR services and advice
- Recruitment of employees
- Compliance with ESG international standards
What to look for in an accounting firm in Brazil
The ideal accounting firm in Brazil should connect you with its most capable people who are specialists in their field. They will provide you with knowledge and an action plan on:
- Compliance with local, state and federal tax regulations
- What if any tax returns your company is entitled to
- Know by heart which tax documents your company must submit
- Requirements and standards for corporate accounting
- How to stay in good standing with Brazilian regulators
- Fluent in English, the ability to explain complex regulations in an easy-to-understand manner
- (Preferably) have recommendations on business strategies that will enable your company to maximize its chances of commercial success in Brazil
Biz Latin Hub can help you with accounting firms in Brazil
At Biz Latin Hub, we provide integrated market entry and back-office services throughout Latin America and the Caribbean, with offices in Bogota and Cartagena, as well as over a dozen other major cities in the region. We also have reliable partners in many other markets.
Our unparalleled reach means we are ideally suited to support multi-jurisdictional market entry and cross-border operations.
In addition to knowledge of accounting firms in Brazil, our portfolio of services includes employment & PEO accounting & taxation, company formation, bank account opening and corporate legal services.
Contact Us today to find out more about how we can help you find top talent, or otherwise do business in Latin America and the Caribbean.
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