OBS_VALUE: There is a specific approval regime for the establishment of foreign branches, which requires the publication of an executive decree issued by the federal government authorizing the incorporation of the branch upon evaluation of its impact on Brazilian national interests. Foreign investors can, however, be shareholder of Brazilian companies, unless otherwise specified in the legislation.Other relevant source is Decree 11497/2023 - Delegates powers to the Minister of Development, Industry, Commerce and Services to decide and carry out acts authorizing the operation of a foreign firm in the country, Adopted 31/12/2022, http://www.planalto.gov.br/ccivil_03/_Ato2023-2026/2023/Decreto/D11497.htm#art2. 