With direct access to trade in Brazilian Real the very same day, Moneycorp makes doing business in Brazil easier than ever before.
With a large economically active population and bustling industries, these are two indicators of market potential. But seizing opportunities that may present themselves in this country won’t happen without facing several challenges.
The UK has had trade ties with Brazil for centuries; ties that continue to strengthen over time. Between 2002 and 2012, UK exports to Brazil more than doubled and UK services exports increased by 59% between 2009 and 2014. The most important of those exports include machinery, electricals, vehicles, chemical products, and pharmaceuticals.
Thanks to its growing labour force, a business base that’s globally integrated, robust manufacturing and traditional main industries, promising emerging industries, and various import/export opportunities, the country is one of the emerging BRIC economies. Furthermore, the country’s economy is predicted to become one of the strongest in the world in the next 30 years.
Although some circumstances and legislation contribute to the ease of doing business here, others can present challenges. Among them are the country’s complex and time-consuming tax system, the classification of the Brazilian Real as a restricted currency, and language barriers.
The country continues to make valuable contributions to the world. A land of opportunity, it has a promising future that offers potential for growth to local and foreign businesses.
The largest country in South America, it offers a thriving economy and a market of over 200 million people with the 9th largest economy in the world. Expanding your business here can be an effective way of increasing your focus and revenue on an international scale.
Typically when sending funds here, there are several financial institutions involved in your transaction. But with Moneycorp Banco de Cambio's direct access to Brazilian real you can easily exchange currency and make smooth and seamless same day payments.
Guide to business in Brazil for foreigners
Is Brazil a good country to do business in?
It is a good country in which to do business, and one reason for this is a growing consumer market is not only large but diverse in its needs. This results in an expanding number of opportunities.
Some of those opportunities may extend beyond Brazil’s borders, as the country is a Southern Common Market (MERCOSUR) member – this gives companies incorporated in the country direct access to other member states.
100% foreign-owned companies can be incorporated in the country, which offers potentially greater ease. The country also has a new government that is open to foreign investment.
What are the major industries in Brazil?
The major industries encompass the modern and the traditional. The manufacturing sector, which is the second largest in the Americas, leads the way. The biggest industries within the sector include automobile production and textiles.
Agriculture, gas, iron and steel production, mining, the production of chemicals and cement, and oil and petroleum processing are among the largest traditional industries in the country. Industries based on technology have been the most energetic over the past few years, but they have not yet overtaken the country’s traditional industries.
You should find a wealth of opportunities if you are considering doing business in here.
What are the emerging industries in Brazil?
Even though the dynamism of technology-based industries is notable, they’re still outpaced by other emerging industries. Healthcare and life sciences are two of the most important, and investment in them has almost doubled over the past 15 years. The country’s healthcare market is now the largest in Latin America.
Among the prominent markets within the healthcare industry are medical devices, biomaterials used to manufacture devices and prostheses, digital health such as wearables and health apps, organic and other health food, pharmaceutical retail, and electronic medical records.
The country’s emerging industries offer more reasons to consider doing business here.
How much does it cost to start a business in Brazil?
The costs involved in starting a business here have been notorious, so much so that they gave rise to the term “the Brazil Cost.” Among those costs are payments of more than R$2,000 for submitting paperwork and obtaining the relevant approvals from various government agencies. You would also need to consider property registrations, construction permits (if applicable), and tax.
If you register a subsidiary or local branch of your company, it will be liable for corporate taxes. There are more than 60 different taxes and levies on goods and services, and those taxes and levies vary between municipalities, states, and federal districts.