On September 1, 2021, Complementary Law No. 182, published on June 2, 2021, enters into force, establishing the Legal Framework for Startups which, among other attributions:
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Under the new law, which came into force, companies and cooperative societies active in innovation applied to products, services or business models and that have had gross revenue of up to R$16 million in the previous year.
Among the Law’s novelties is the creation of an experimental regulatory environment (regulatory sandbox), a differentiated regime to allow companies to launch products with less bureaucracy. Regulatory agencies, such as Anvisa or Anatel, may temporarily suspend for startups certain standards required of companies operating in the sector.
The functioning of the sandbox must establish the criteria for the selection or qualification of the company, the duration and scope of the suspension of the incidence of the norms and the norms properly covered.
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