Today, the Minister of Finance published the Normative Ordinance No. 1,330/2023 which bring rules regarding the authorization for the exploitation of fixed odds bets. In line with the provisions of Bill 3,626/2023, currently under discussion in the Brazilian Congress, the Ordinance brings some specific conditions for the interested companies in obtaining authorization.
A relevant point is the prior expression of interest, a procedure by which interested companies must submit their interest in obtaining a future authorization no later than November 26th. It is a very simple measure, whereby the company must fill out two forms (attached to the Ordinance), forwarding them to a specific e-mail address (cogel@fazenda.gov.br). Authorizations are not assured for those who send the form, but priority in the analysis of the application for authorization to operate is secured.
Foreign companies interested in registering, must present a commitment to set up a company in Brazil and documents proving the powers of representation of those who will sign the declaration or, alternatively, may appoint an attorney with specific powers for this purpose.
The Ministry of Finance’s so-called “technical team” may issue further regulations on the procedure to apply for an authorization, including the start date expected for the procedure.
The full content of the Normative Ordinance No. 1,330/2023 is available at Portaria Normativa MF nº 1.330, de 26 de outubro de 2023 - DOU - Imprensa Nacional (in.gov.br).
