Many investors are coming back to Brazil as its financial sector is experiencing a lot of positive growth. There is no more economic turmoil in the country, the economy is stabilizing and giving positive results, and partners like China have resumed production.
Nonetheless, for foreign investors, there are critical points that must be noted if at all there are benefits to be enjoyed from the investments. Igor Cornelsen, one of the most prominent investors in Brazil, understands the country’s economy in and out. He owns an investment firm which he uses to assist foreign investors in making it through Brazil’s unforgiving economy. Below are some of the tips and advice Igor Cornelsen has for investors who are looking to reap from the Brazilian economic boom.
Connecting with Locals
Brazil has a vast population, consisting of entrepreneurs and people from all other walks of life. Even so, networking has always played a large part in the success of most businesses there. Furthermore, an estimated 25% of the entrepreneurs in the country prefer starting their businesses. It is therefore easy to associate with them, as they are also friendly. Locals also understand the market better and can easily foresee impending changes, making their advice worth their weight in gold.
Red Tape Preparedness
For some time now Brazilian authorities have been known for setting sometimes unrealistic regulations. In regards to the country coming from a tough economic period, foreign investors should expect various red tapes in their way. The best you can do is take time to research, read, and understand all the regulations, which will help you avoid landing on the wrong side of the law and eventually being blocked from making further investments.
Understand Currency Limitations
Reading currency laws will make you aware of Brazil’s tight currency control system. The country demands that any foreigners use accredited financial institutions for currency exchange. Also, keep in mind that different transactions come with differing exchange rates, and understanding them puts you at a real advantage. Though there is a set commercial rate, Brazil’s Central Bank has the power to change it when necessary.
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