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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on December 30, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; border-bottom: Black 4.5pt double"><B>Registration
No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>



<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>XP Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact Name of Registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; text-align: center; font-weight: bold">The Cayman Islands</TD>
    <TD STYLE="width: 38%">&nbsp;</TD>
    <TD STYLE="width: 31%; text-align: center; font-weight: bold">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of <BR>
incorporation or organization)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer <BR>
Identification No.)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Av. Chedid Jafet,
75, Torre Sul, 30th floor,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Vila Ol&iacute;mpia
&ndash; S&atilde;o Paulo</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Brazil&nbsp;04551-065</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>+55 (11) 3075-0429</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address, including zip code, and telephone
number, including area code, of Principal Executive Offices)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>XP Inc. Long-Term Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center">(Full title of the plan)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center; background-color: white"><B>XP Investments
US, LLC 55 West 46th Street, 30th floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>New York, NY 10036</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in; text-align: center; background-color: white"><B>(646)&nbsp;664-0501</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in; text-align: center">(Name, address, including zip code,
and telephone number, including area code, of agent for service)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in; text-align: center"><B>Copies to</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Manuel Garciadiaz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Byron B. Rooney</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Davis Polk &amp; Wardwell LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">450 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, NY 10017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in; text-align: center">(212) 450-4000</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; width: 63%; padding-left: 0.5in"><FONT STYLE="font-size: 10pt"><B>Large accelerated filer </B></FONT>&#9744;</TD>
    <TD STYLE="padding-right: 2pt; width: 37%; padding-left: 2pt"><FONT STYLE="font-size: 10pt"><B>Accelerated filer </B></FONT>&#9744;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 2pt; padding-left: 0.5in"><FONT STYLE="font-size: 10pt"><B>Non-accelerated filer </B></FONT>&#9744;<FONT STYLE="font-size: 10pt"><B>&nbsp;(Do not check if a smaller reporting company)</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt"><B>Smaller reporting company </B></FONT>&#9744;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; padding-left: 2pt"><FONT STYLE="font-size: 10pt"><B>Emerging Growth Company </B></FONT>&#9746;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. </B></FONT>&#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Title of Securities to be Registered</FONT></TD>
    <TD STYLE="width: 14%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Amount to be Registered (1)</FONT></TD>
    <TD STYLE="width: 15%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Proposed Maximum Offering Price Per&nbsp;Share</FONT></TD>
    <TD STYLE="width: 18%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Proposed Maximum&nbsp;&nbsp;Aggregate Offering&nbsp;Price </FONT></TD>
    <TD STYLE="width: 13%; border-top: black 2.25pt double; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><FONT STYLE="font-size: 10pt">Amount of Registration Fee (3) </FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 6.75pt">Class A common shares, par value US$0.00001 per share</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="background-color: white">27,590,016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$38.60 (2)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$1,064,974,617.60 (2)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$138,233.71</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>This Registration Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) covers Class A common shares, par value
US$0.00001 per share (&ldquo;Class A Common Shares&rdquo;), of XP Inc. (the &ldquo;Registrant&rdquo;) authorized for issuance pursuant
to the XP Inc. Long-Term Incentive Plan (the &ldquo;Plan&rdquo;). Pursuant to Rule 416(a) under the Securities Act of 1933, as
amended (the &ldquo;Securities Act&rdquo;), this Registration Statement shall also cover any additional Class A Common Shares that
become issuable under the Plans by reason of any share dividend, share split or other similar transaction.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(h) and 457(c) under the Securities
Act on the basis of the average of the high and low prices reported for a Class A Common Share on the NASDAQ Capital Market on
December 27, 2019.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Rounded up to the nearest penny in U.S. dollars.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">PART I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">INFORMATION REQUIRED
IN THE SECTION 10(a) PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The documents containing the information
specified in Item 1 and Item 2 of Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) under
the Securities Act. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">PART II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3. Incorporation of Documents by Reference.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following documents are incorporated
herein by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a) The Registrant&rsquo;s prospectus, dated
December 11, 2019, filed with the Commission pursuant to Rule 424(b) under the Securities Act, in connection with the Registrant&rsquo;s
Registration Statement on Form F-1 (Registration No. <FONT STYLE="background-color: white">333-234719</FONT>), as originally filed
by the Registrant on November 15, 2019 and subsequently amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b) The description of the Registrant&rsquo;s
share capital which is contained in the Registrant&rsquo;s Registration Statement on Form 8-A (Registration No. 001-39155), dated
December 9, 2019, including any amendments or supplements thereto; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c) All reports filed pursuant to Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), since the end of the fiscal
year covered by the Registrant&rsquo;s Registration Statement on Form F-1 referred to in clause (a) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, all documents subsequently
filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing
of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, including any Reports of Foreign Private Issuers on Form 6-K submitted during
such period (or portion thereof) that is identified in such form as being incorporated by reference into this Registration Statement,
shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of the filing
of such documents. The Registrant is not incorporating by reference any documents or portions thereof, whether specifically listed
above or filed in the future, that are not deemed &ldquo;filed&rdquo; with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein, (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4. Description of Securities.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5. Interests of Named Experts and Counsel.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-weight: normal">Not applicable.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6. Indemnification of Directors and Officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Companies Law (as amended) of the Cayman
Islands law does not limit the extent to which a company&rsquo;s articles of association may provide indemnification of directors
and officers, except to the extent that it may be held by the Cayman Islands courts to be contrary to public policy, such as to
provide indemnification against civil fraud or the consequences of committing a crime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Registrant&rsquo;s Articles of Association
provide that the Registrant shall indemnify and hold harmless its directors and officers against all actions, proceedings, costs,
charges, expenses, losses, damages, liabilities, judgments, fines, settlements and other amounts incurred or sustained by such
directors or officers, other than by reason of such person&rsquo;s dishonesty, willful default or fraud, in or about the conduct
of the Registrant&rsquo;s business or affairs (including as a result of any mistake of judgment) or in the execution or discharge
of such person&rsquo;s duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing,
any costs, expenses, losses or liabilities incurred by such director or officer in defending (whether successfully or otherwise)
any civil, criminal or other proceedings concerning the Registrant or its affairs in any court whether in the Cayman Islands or
elsewhere. This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware
corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to the Registrant&rsquo;s directors, officers or persons controlling the Registrant
under the foregoing provisions, the Registrant has been informed that, in the opinion of the Commission, such indemnification is
against public policy as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Also, the Registrant intends to enter into
indemnification agreements with its directors and officers. The indemnification agreements will require the Registrant to indemnify
its directors and executive officers to the fullest extent permitted by law, save for a limited number of instances, including
where such persons have acted contrary to any applicable anti-corruption laws, have breached their duties to avoid conflicting
duties in respect of any transaction concerning the Registrant or have not followed any corporate policies of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 7. Exemption from Registration Claimed.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 8. Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; width: 12%; padding-bottom: 10pt; padding-left: 0.25in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">Exhibit Number</P></TD>
    <TD STYLE="padding-right: 2pt; width: 88%; padding-bottom: 10pt; padding-left: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 0.25in"><A HREF="http://www.sec.gov/Archives/edgar/data/1787425/000119312519303714/d829388dex31.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">4</FONT></A></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1787425/000119312519303714/d829388dex31.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Amended and Restated Memorandum and Articles of Association of XP Inc. (incorporated herein by reference to Exhibit 3.1 of the Registrant&rsquo;s Registration Statement on Form F-1, Amendment No. 2, filed with the SEC on December 2, 2019 (Registration No. 333-234719))</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 0.25in"><A HREF="dp118402_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">5</FONT></A></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 10pt"><A HREF="dp118402_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Opinion of Maples and Calder, Cayman Islands counsel of XP Inc., as to the validity of the Class A Common Shares (filed herewith)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 0.25in"><A HREF="dp118402_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 10pt"><A HREF="dp118402_ex05.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Consent of Maples and Calder, Cayman Islands counsel of XP Inc. (included in Exhibit 5)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 0.25in"><A HREF="dp118402_ex2302.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">23.2</FONT></A></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 10pt"><A HREF="dp118402_ex2302.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Consent of PricewaterhouseCoopers Auditores Independentes, an independent registered public accounting firm (filed herewith)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 0.25in"><A HREF="#poa" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">24</FONT></A></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 10pt"><A HREF="#poa" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">Powers of Attorney (included in the signature pages hereto)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 0.25in"><A HREF="dp118402_ex99.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">99</FONT></A></TD>
    <TD STYLE="padding-right: 2pt; padding-bottom: 10pt; padding-left: 10pt"><A HREF="dp118402_ex99.htm" STYLE="color: Blue; text-decoration: underline"><FONT STYLE="font-size: 10pt">XP Inc. Long-Term Incentive Plan (filed herewith)</FONT></A></TD></TR>
</TABLE>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt">Item 9. Undertakings.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD>The undersigned Registrant hereby undertakes:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(1)&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;To
include any prospectus required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(ii)&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;if,
in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering
price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(iii)&nbsp;&nbsp;To
include any material information with respect to the Plan not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><I>provided</I>, <I>however</I>,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section
13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(2)&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(3)&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&nbsp;&nbsp;&nbsp;Insofar
as indemnification of liabilities arising under the Securities Act may be permitted to directors or persons controlling the Registrant
pursuant to the foregoing provisions, the Registrant has been informed that, in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing this Registration
Statement and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in S&atilde;o Paulo, Brazil, on this 30<SUP>th</SUP> day of December, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">XP Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 83%">/s/ <FONT>Guilherme Dias Fernandes Benchimol</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:</TD>
    <TD><FONT>Guilherme Dias Fernandes Benchimol</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="poa"></A>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt">KNOW ALL PERSONS
BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints <FONT STYLE="background-color: white">Guilherme
Dias Fernandes Benchimol</FONT> and <FONT STYLE="background-color: white">Bruno Constantino Alexandre dos Santos </FONT>as his
or her true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his
or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to
this Registration Statement and any and all additional registration statements pursuant to Rule&nbsp;462(b) of the Securities Act
and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Commission, granting
unto said attorneys-in-fact and agent full power and authority to do and perform each and every act in person, hereby ratifying
and confirming all that said attorney-in-fact and agent or his substitutes may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt">Pursuant to the
requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and
on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 42.85pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-right: 2pt; border: Black 1pt solid; vertical-align: bottom; width: 35%; text-align: center; font-weight: bold; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><U>Signature</U></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 1%; text-align: center; font-weight: bold; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 43%; text-align: center; font-weight: bold; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><U>Title</U></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 21%; text-align: center; font-weight: bold; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><U>Date</U></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt">/s/ <FONT>Guilherme Dias Fernandes Benchimol</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer and Director</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><FONT>Guilherme Dias Fernandes Benchimol</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">(Principal Executive Officer)</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt">/s/ <FONT>Bruno Constantino Alexandre dos Santos</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer and Director</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Bruno Constantino Alexandre dos Santos</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;(Principal&nbsp;Financial Officer and Principal Accounting Officer)</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt">/s/ <FONT>Bernardo Amaral Botelho</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Bernardo Amaral Botelho</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">/s/ Carlos Alberto Ferreira Filho</P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Carlos Alberto Ferreira Filho</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">/s/ <FONT>Gabriel Klas da Rocha Leal</FONT></P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Gabriel Klas da Rocha Leal</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">/s/ <FONT>Fabr&iacute;cio Cunha de Almeida</FONT></P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Fabr&iacute;cio Cunha de Almeida</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">/s/ <FONT>Guilherme Sant&rsquo;Anna Monteiro da Silva</FONT></P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Guilherme Sant&rsquo;Anna Monteiro da Silva</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
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                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
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    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
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                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Martin Emiliano Escobari Lifchitz</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Geraldo Jos&eacute; Carbone</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Francisco Eduardo de Almeida Pinto</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
</TABLE>

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    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center; font-weight: bold; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center; font-weight: bold; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><U>Title</U></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center; font-weight: bold; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><U>Date</U></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border: Black 1pt solid; vertical-align: bottom; width: 35%; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 1%; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; width: 43%; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; width: 21%; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Maria Helena dos Santos Fernandes de Santana</FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
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                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Director</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
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    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom; padding-left: 2pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">/s/ Jared Wilson</P></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">XP Investments US, LLC</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; padding-left: 2pt; text-indent: 0pt">&nbsp;&nbsp;December 30, 2019</TD></TR>
<TR>
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    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; padding-left: 2pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 2pt; text-indent: 0pt">Authorized representative in the United States</TD>
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[{"type": "S-8", "sequence": "1", "filename": "dp118402_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 68160}]
{"company-data": {"conformed-name": "XP Inc.", "cik": "0001787425", "assigned-sic": "6211", "irs-number": "000000000", "state-of-incorporation": "E9", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-235755", "film-number": "191317656"}, "business-address": {"street1": "AV. CHEDID JAFET 75, TORRE SUL", "street2": "30TH FLOOR, VILA OLIMPIA", "city": "SAO PAULO", "state": "D5", "zip": "00000", "phone": "55-11-3075-0429"}, "mail-address": {"street1": "AV. CHEDID JAFET 75, TORRE SUL", "street2": "30TH FLOOR, VILA OLIMPIA", "city": "SAO PAULO", "state": "D5", "zip": "00000"}}
As filed with the Securities and Exchange
Commission on December 30, 2019
Registration
No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
XP Inc.
(Exact Name of Registrant as specified
in its charter)
The Cayman Islands
N/A
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
Av. Chedid Jafet,
75, Torre Sul, 30th floor,
Vila Olímpia
– São Paulo
Brazil 04551-065
+55 (11) 3075-0429
(Address, including zip code, and telephone
number, including area code, of Principal Executive Offices)
XP Inc. Long-Term Incentive Plan
(Full title of the plan)
XP Investments
US, LLC 55 West 46th Street, 30th floor
New York, NY 10036
(646) 664-0501
(Name, address, including zip code,
and telephone number, including area code, of agent for service)
Copies to
:
Manuel Garciadiaz
Byron B. Rooney
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, NY 10017
(212) 450-4000
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting
company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☐
(Do not check if a smaller reporting company)
Smaller reporting company
☐
Emerging Growth Company
☒
If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
☐
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be Registered (1)
Proposed Maximum Offering Price Per Share
Proposed Maximum  Aggregate Offering Price
Amount of Registration Fee (3)
Class A common shares, par value US$0.00001 per share
27,590,016
$38.60 (2)
$1,064,974,617.60 (2)
$138,233.71
(1)
This Registration Statement on Form S-8 (this "Registration Statement") covers Class A common shares, par value
US$0.00001 per share ("Class A Common Shares"), of XP Inc. (the "Registrant") authorized for issuance pursuant
to the XP Inc. Long-Term Incentive Plan (the "Plan"). Pursuant to Rule 416(a) under the Securities Act of 1933, as
amended (the "Securities Act"), this Registration Statement shall also cover any additional Class A Common Shares that
become issuable under the Plans by reason of any share dividend, share split or other similar transaction.
(2)
Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(h) and 457(c) under the Securities
Act on the basis of the average of the high and low prices reported for a Class A Common Share on the NASDAQ Capital Market on
December 27, 2019.
(3)
Rounded up to the nearest penny in U.S. dollars.
PART I
INFORMATION REQUIRED
IN THE SECTION 10(a) PROSPECTUS
The documents containing the information
specified in Item 1 and Item 2 of Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) under
the Securities Act. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the "Commission")
and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.
PART II
INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents are incorporated
herein by reference:
(a) The Registrant's prospectus, dated
December 11, 2019, filed with the Commission pursuant to Rule 424(b) under the Securities Act, in connection with the Registrant's
Registration Statement on Form F-1 (Registration No.
333-234719
), as originally filed
by the Registrant on November 15, 2019 and subsequently amended;
(b) The description of the Registrant's
share capital which is contained in the Registrant's Registration Statement on Form 8-A (Registration No. 001-39155), dated
December 9, 2019, including any amendments or supplements thereto; and
(c) All reports filed pursuant to Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), since the end of the fiscal
year covered by the Registrant's Registration Statement on Form F-1 referred to in clause (a) above.
In addition, all documents subsequently
filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing
of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, including any Reports of Foreign Private Issuers on Form 6-K submitted during
such period (or portion thereof) that is identified in such form as being incorporated by reference into this Registration Statement,
shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of the filing
of such documents. The Registrant is not incorporating by reference any documents or portions thereof, whether specifically listed
above or filed in the future, that are not deemed "filed" with the Commission.
Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein, (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
The Companies Law (as amended) of the Cayman
Islands law does not limit the extent to which a company's articles of association may provide indemnification of directors
and officers, except to the extent that it may be held by the Cayman Islands courts to be contrary to public policy, such as to
provide indemnification against civil fraud or the consequences of committing a crime.
The Registrant's Articles of Association
provide that the Registrant shall indemnify and hold harmless its directors and officers against all actions, proceedings, costs,
charges, expenses, losses, damages, liabilities, judgments, fines, settlements and other amounts incurred or sustained by such
directors or officers, other than by reason of such person's dishonesty, willful default or fraud, in or about the conduct
of the Registrant's business or affairs (including as a result of any mistake of judgment) or in the execution or discharge
of such person's duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing,
any costs, expenses, losses or liabilities incurred by such director or officer in defending (whether successfully or otherwise)
any civil, criminal or other proceedings concerning the Registrant or its affairs in any court whether in the Cayman Islands or
elsewhere. This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware
corporation.
Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to the Registrant's directors, officers or persons controlling the Registrant
under the foregoing provisions, the Registrant has been informed that, in the opinion of the Commission, such indemnification is
against public policy as expressed in the Securities Act and is therefore unenforceable.
Also, the Registrant intends to enter into
indemnification agreements with its directors and officers. The indemnification agreements will require the Registrant to indemnify
its directors and executive officers to the fullest extent permitted by law, save for a limited number of instances, including
where such persons have acted contrary to any applicable anti-corruption laws, have breached their duties to avoid conflicting
duties in respect of any transaction concerning the Registrant or have not followed any corporate policies of the Registrant.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit Number
4
Amended and Restated Memorandum and Articles of Association of XP Inc. (incorporated herein by reference to Exhibit 3.1 of the Registrant's Registration Statement on Form F-1, Amendment No. 2, filed with the SEC on December 2, 2019 (Registration No. 333-234719))
5
Opinion of Maples and Calder, Cayman Islands counsel of XP Inc., as to the validity of the Class A Common Shares (filed herewith)
23.1
Consent of Maples and Calder, Cayman Islands counsel of XP Inc. (included in Exhibit 5)
23.2
Consent of PricewaterhouseCoopers Auditores Independentes, an independent registered public accounting firm (filed herewith)
24
Powers of Attorney (included in the signature pages hereto)
99
XP Inc. Long-Term Incentive Plan (filed herewith)
Item 9. Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)   To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)   To
include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)  To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering
price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement;
(iii)  To
include any material information with respect to the Plan not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;
provided
,
however
,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section
13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(2)   That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial
bona fide
offering thereof.
(3)   To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b)   The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)   Insofar
as indemnification of liabilities arising under the Securities Act may be permitted to directors or persons controlling the Registrant
pursuant to the foregoing provisions, the Registrant has been informed that, in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing this Registration
Statement and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in São Paulo, Brazil, on this 30
th
day of December, 2019.
XP Inc.
By:
/s/
Guilherme Dias Fernandes Benchimol
Name:
Guilherme Dias Fernandes Benchimol
Title:
Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS
BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints
Guilherme
Dias Fernandes Benchimol
and
Bruno Constantino Alexandre dos Santos
as his
or her true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his
or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to
this Registration Statement and any and all additional registration statements pursuant to Rule 462(b) of the Securities Act
and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Commission, granting
unto said attorneys-in-fact and agent full power and authority to do and perform each and every act in person, hereby ratifying
and confirming all that said attorney-in-fact and agent or his substitutes may lawfully do or cause to be done by virtue hereof.
Pursuant to the
requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and
on the dates indicated.
Signature
Title
Date
/s/
Guilherme Dias Fernandes Benchimol
Chief Executive Officer and Director
December 30, 2019
Guilherme Dias Fernandes Benchimol
(Principal Executive Officer)
/s/
Bruno Constantino Alexandre dos Santos
Chief Financial Officer and Director
December 30, 2019
Bruno Constantino Alexandre dos Santos
(Principal Financial Officer and Principal Accounting Officer)
/s/
Bernardo Amaral Botelho
Director
December 30, 2019
Bernardo Amaral Botelho
/s/ Carlos Alberto Ferreira Filho
Director
December 30, 2019
Carlos Alberto Ferreira Filho
/s/
Gabriel Klas da Rocha Leal
Director
December 30, 2019
Gabriel Klas da Rocha Leal
/s/
Fabrício Cunha de Almeida
Director
December 30, 2019
Fabrício Cunha de Almeida
/s/
Guilherme Sant'Anna Monteiro da Silva
Director
December 30, 2019
Guilherme Sant'Anna Monteiro da Silva
Director
Julio Capua Ramos da Silva
Director
Martin Emiliano Escobari Lifchitz
Director
Geraldo José Carbone
Director
Francisco Eduardo de Almeida Pinto
Signature
Title
Date
Director
Maria Helena dos Santos Fernandes de Santana
Director
Geraldo Travaglia Filho
/s/ Jared Wilson
XP Investments US, LLC
December 30, 2019
Jared Wilson
Authorized representative in the United States