Categories: News

Startup accelerator Latitud launches product to save tax money

The accelerator Latitud launched on Tuesday (1st) the Latitud Go, a technology to facilitate and cheapen the processes of opening a company, attracting investments and exiting operations. According to Neofeed, the idea is to help small entrepreneurs adjust to bureaucracy and legally save on tax payments. The service promises to reduce the cost to one-fifth of what would otherwise be spent.

  • Sales startup for neighborhood markets receives BRL 25.4 million
  • Entrepreneurship podcasts: see suggestions from five Brazilian executives

The company was created by American Brian Requarth, co-founder and former CEO of VivaReal, a real estate classifieds startup that was sold to OLX in 2020 for R$2.9 billion. The current business grew out of that story. At the time, Requarth says he could have skipped spending $100 million, which came out of his pocket to pay fines for a legal failure.

Latitud Go reduces legal costs with partner law firms and an offshore tax collection scheme at lower rates. The structure is divided into three parts: an intermediary holding company in Delaware (USA); another in the tax haven of the Cayman Islands; and an operation in Latin America.


Feedly: subscribe to our RSS feed and don't miss any Canaltech content on your favorite news aggregator.

Latitud Go seeks to make the process of starting a business easier and cheaper (Image: Reproduction/Christina@wocintechchat.com/Unsplash)

“We are not reinventing the wheel. This whole process is already known, but it costs something around US$ 30,000 initially. We were able to reduce that cost to something close to $6,000 using technology,” Requarth told Neofeed. For now, the service is aimed at startups. It was tested in August and already has 15 customers.

Is offshore illegal?

Brazilian law allows an individual to own an offshore company and not collect taxes from our country, as long as it does not distribute profit to its partners or does not bring money back to Brazil. Another requirement is that the company be opened with resources duly declared in the Brazilian income tax.

While it is not illegal to maintain an offshore company, secrecy and lenient tax rules are resources that facilitate illicit activities such as money laundering and tax evasion. This was the case of the journalistic investigation called Pandora Papers, which analyzed more than 11 million documents from the Panamanian law firm Mossack Fonseca, now defunct – and which had as clients the Minister of Economy, Paulo Guedes, and the president of the Central Bank, Roberto Neto Fields.

Read the article on Canaltech.

Trending on Canaltech:

  • PFF2 or N95 mask: you may be using it wrong
  • Scientists discover unprecedented type of neuronal communication in the brain
  • Why is the Moon moving away from Earth
  • Galaxy S20 FE vs iPhone SE | Which is better in 2022?
  • Man spends 80 days eating raw meat and records experiment on Instagram
Admin

Hi, I am Seo expert, an MCU geek, a Star Wars fan, With more than 5 years of experience in the field of entertainment journalism and 28 years of experience in being a movie and TV show geek, I contribute to cuopm.com as its Cheif-Editor. My work here is to provide you with the craftily selected pieces of news from the Entertainment industry so that Pamdemocrat can be your ideal spot for all the latest Hollywood buzz and gossips. Ping me on my email ID below and let's discuss the latest theories and your favorite moments from my favorite TV shows and movies.

Recent Posts

Check out two bombs from the end of the soap opera Mania de Você

Mania de you, TV Globo's 21-hour soap opera, you walk to the last days of…

4 hours ago

“My nerves are not enough.” Trusov about a new role, the loss of his team and her husband's problems

The press conference of the captains after the short programs of the Channel One Cup.…

4 hours ago

Italy vs. Ireland, live: how to see online the game for the six nations 2025

This Saturday the six Nations of Rugby 2025 and the three matches of the last…

8 hours ago

Cacá, Osmar and Turn from Madá: Check out 3 bombs around

Cacá (Pri Helena) and Osmar (Milhem Cortaz) will gain more prominence in the next chapters…

1 day ago

Shcherbakova pulled out a victory from Zagitova in a revolutionary tournament. Before that, no one managed to win Alina on the CCP

It was only a year ago ... The format of the Channel Channel Cup survived,…

1 day ago

When is Holy Week 2025

The people who wonder When is Holy Week 2025 They can already know The exact…

1 day ago