Why Set Up Your Business in Brazil?
Entrepreneurs thinking of setting up businesses in South America mostly choose Brazil over other countries. Let’s take a look at what makes Brazil in South America a top favourite and first preference to setup business here:
Excellent Economic Growth
Brazil has the sixth largest economy worldwide and is expected to become the fifth largest in a couple of decades. Even after the world’s worst meltdown, the country’s domestic performance and its output was still solid thereby protecting it from negative impacts. Brazil has access to raw materials.
It is rich in mineral resources and is a self sufficient country in oil. It offers great opportunities to business owners for export market expansion and to do business. This means here business owners can purchase raw material at cheaper rates lowering the cost of doing business.
Focused on Business Development through Innovation
In fact the country has announced amazing innovation focused partnerships with the US on five core themes such as trade facilitation, innovation and green technology, intellectual-property cooperation, business development and standards & metrology.
For those entrepreneurs who are into new product development and innovation, Brazil is definitely a fertile ground for them.
Tax and Financial Incentives- Providing Tax Relief to Business Owners Operating in Brazil
Brazilian government offers all kinds of tax benefits and reliefs to businesses including Federal incentives, Regional incentives, State incentives and Municipal incentives, and Long-term funding programs.
The financial and tax incentives in Brazil aim to stimulate the country’s economic growth by improving income, employment rate, encouraging innovative developments and technological improvements. Besides this, these incentives aid organizations (both local and foreign business owners) to enjoy more profits.
Low Risk Country
Brazil is a low-risk country in terms of every aspect for example war, hurricanes, natural disasters, terrorism, and political risk to name a few. The country has also invested significantly in the development of its infrastructure which has vastly benefitted the country’s economy, and made the country more pro-business.
According to a report published by EIU, Brazil had an average GDP rate of 3.6 percent in the last ten years—which by the way is much higher than the growth rate of several other countries.
Other reasons to setup a company in Brazil are:
- Low-cost of living.
- Foreign investments in Brazil are encouraged.
- It has a well-diversified economy and a large local (domestic) market which makes it truly less susceptible to international-crisis.
- It is the country of large & expanding middle class.
- Has a strategic location giving easy access to other countries in South America.
- Boosts a stable democracy.
Though setting up business in Brazil is a great idea—offering amazing opportunities to foreign entrepreneurs to grow and excel—starting operations here can be difficult due to complex legal requirement and paperwork.
To ensure a smooth and stress-free company setup process in Brazil get in touch with Establish Brazil, email@example.com. They can assist you every step of the way and help you setup operations in Brazil in the fastest time.