Check out the benefits of being an MEI

In the Brazilian labor market, there are several categories that operate directly in the market, generating jobs and moving the economy, one of these categories being Individual Microentrepreneurs (MEIs). These are those who are self-employed, registered as small entrepreneurs and engaged in one of the more than 460 existing types of services, commerce or industry. As a legislation dated from 2009, there are more than 7 million people who have already formalized as individual microentrepreneurs.

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However, being an MEI has its advantages. Formalization as an individual micro-entrepreneur works as a simplified company model for self-employed people in activities not regulated by trade associations, such as handicraft work, haircuts, painters etc.

It is also important to note that, to qualify as MEI, the annual billing limit must be BRL 81,000. If the value exceeds this amount, the individual must migrate to another modality, such as a micro or small business. The Senate is guiding a project that raises that amount to R$ 130 thousand, however, nothing is official yet.

This modality also does not allow the hiring of third parties, however, the text ruled by the Senate provides for the modification of this premise. In addition, MEI can have only one point of business, and if you want to open more than one, you also need to change your size. The MEI cannot yet be a partner, owner or administrator of a given company.

Benefits of being MEI

The advantages of being a MEI include the right to Social Security benefits, a simplified taxation model, enrollment in the CNPJ at no cost and without bureaucracy, among other benefits. In this sense, the main advantages of being an MEI are:

• Right to social security benefits: old-age or disability retirement, sick pay, maternity pay and death pension (for the family);
• Access to banking products and services, such as credit, with special conditions for individual micro-entrepreneurs;
• Simplified taxation model, with a relatively low and fixed monthly amount related to taxes (INSS, ISS or ICMS);
• Enrollment in the CNPJ free and done online;
• Possibility of issuing an invoice;
• Access to technical support from Sebrae (Brazilian Micro and Small Business Support Service).

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