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TozziniFreire lawyers outline entity requirements for Brazil sports betting authorisation

Regulation

TozziniFreire partner Jun Makuta said operators seeking Brazilian sports betting authorisation must establish a local legal entity. He said the rules accept limitada companies or corporations; a wholly foreign-owned corporation needs at least two shareholders, while a limitada can have one. Makuta and senior associate Adriana Tavares said some staffing requirements remain unclear.

Operators assessing entry need to account for local incorporation and the distinct shareholder requirements described by the lawyers.

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Regulation

Brazilian Congress president extends betting ban measure by 60 days

Brazil’s Congress president, Davi Alcolumbre, extended the provisional measure prohibiting fixed-odds betting for a further 60 days, with the decision published on 11 November. The extension gives lawmakers until February to consider the measure, which would end betting authorisations, block websites and apps, and return user balances; the government estimates the ban would reduce revenue by BRL12bn.

Brazil’s provisional ban on fixed-odds betting has been extended by another 60 days by Congress president Davi Alcolumbre. The decision appeared in the federal official gazette on Wednesday 11.

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