This is the 2371st most frequent Portuguese word.
tim
"Tim" does not have a standalone meaning in Portuguese; it is likely a name.
Here 'Tim' is a proper noun and refers to a person's name.
Tim gosta de futebol e torce para um time local.
Tim likes soccer and supports a local team.
In this sentence, 'time' means a group or team, and 'Tim' is again used as a person's name.
O time do Tim jogou muito bem na partida.
Tim's team played very well in the match.
In this less common usage, 'tim' might be understood as a regional or colloquial term referring to an event or happening, which is dependent on context.