Doing business in Brazil

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.

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.

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.

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.