For subsequent or public, its constitution follows phases, such as development of Application Forms, which must be registered with the Securities and Exchange Commission (Comissão de Valores Mobiliários - cvm), subscription offer of shares to the public; constitution assemblies; status of the consignment, and minutes of meetings for the Board of the Trade association (Junta Comercial) and publication of the filing certificate in the official gazette (Diário Oficial do Município do Rio de Janeiro).

the simultaneous formation occurs with development of application forms for founders, direct offer to the public, call for assembly, delivery to the Board of Trade regulations (Junta Comercial) and minutes of the meetings published in the official journal (Diário Oficial do Município do Rio de Janeiro).