Brazil’s financial star is on the rise once more, an economic turn of events that’s sure to thrill keen-eyed investors. Whether you’re new to foreign property investments in general or new to the Brazilian mode of operation, you’ll need a few apt pointers to help you effortlessly navigate this country’s economy. Igor Cornelsen, by now an expert theorist on Brazilian investments, has outlined his key notes for success in this arena. He advises self-starters to consider the importance of networking, researching currency restrictions, and understanding national policy.
When in Rome…
As the famous expression goes, “When in Rome, do as the Romans do.” While it’s perfectly acceptable to bring a fresh outsider perspective and a sense of innovation to the table, don’t forget to defer to Brazilian entrepreneurs and their ideas from time to time. Igor Cornelsen notes that locals place great importance on networking, so ingratiate yourself with Brazilian professionals from all walks of life, and perhaps take them up on that dinner invitation. It can only stand to benefit you.
Currency and Confusion
Some foreign investors are baffled by the convoluted nature of what they thought would be a simple transaction. Often, the issue is that in Brazil, the type of transaction determines the exchange rate. Avoid the seemingly obvious mistake of misunderstanding the rates of exchange, and familiarize yourself with as many scenarios as possible. Doing your research today may just help you reap the rewards tomorrow.
Understand the Unfamiliar
Last, but certainly not least, Mr. Cornelsen offers sage advice on the issue of Brazilian policy as it relates to trade regulation. Typically, foreign investors may be accustomed to a healthy level of freedom surrounding business. The at times heavy regulations and skyrocketing taxes in Brazil can be discouraging to those who are unprepared. However, these need not be an issue, according to Cornelsen, as long as foreign investors are aware of the laws and policies. Again, you’ll find that research is key – and as previously mentioned, a well-placed tip from one of your new contacts in Brazil can still make all the difference.