How to do business in brazil

How To Do Business In Brazil Profra.: Angelica Rodriguez

Ma. Fernanda Blanco


 
 
 
 
(Love as principle and progress as the go

Contents Introduction………………………………………………………………....3-4 Business Protocols………………………………………………………5-7 Language Dress Code

Exchanging Gifts While Negotiating Business Cards and Professional Titles Formality and Business Interactions PunctualityGeert Hofstede Analysis…………………………………………………8-9

Conclusions……………………………………………………………………..10-11

Introduction: How to take your business to Brazil
The legal rules governing business activities in Brazil are basically laid down in federal legislation. Such as tax, financial and economic issues, liability for environmental and consumer damages, are legislated by the Federal Government, the Statesand the Federal District. In this case, the Federal Government’s power is limited to enacting general rules on such issues, whereas the States and the Federal District have authority to legislate on a supplementary basis, in line with the general rules laid down in the federal legislation. Brazil offers numerous opportunities for either local or foreign investors, as it has such a big economicpotential, a diverse economy and a huge domestic market this as a result of many international trade treaties with countries all over the world. In Brazil foreign capital stands for any goods, money or equipment among others that enter Brazil for the sole purpose of production of goods or services, it can also be used for investing in economic activities or corporations that have their headquartersabroad. For any foreign investor or businessman that wants to bring their business into Brazil one thing is a must. (ADVOGADOS, 2003) In order to validate their investments in Brazil, foreign investors must translate their foreign currencies into Brazilian currency by entering into a foreign exchange contract at any Brazilian financial institution authorized to deal in exchange by the Central Bank.The corresponding foreign exchange transactions must follow the Central Bank rules and regulations. Other types of foreign investment that wish to enter the country may be by the incorporation of a company; the opening of a branch; or other form of investment on the capital or financial markets, among others. The most usual procedure for a foreign investor to do business in Brazil is by organizinga company in Brazil. For a foreign company to be able to start its economic activities it has to go through a lot of processes. A foreign company may open branches in Brazil by submitting an application to the Brazilian Government for approval, which is granted in the form of a decree of the federal executive branch. Only after all the formalities have been fulfilled, which include publication inthe official press and filing at the Register of Companies, of the documentation related to opening of the branch, will it be allowed to start up its activities. The foreign company must also appoint a representative who need not be a Brazilian national, but must be resident in Brazil to act on its behalf.

Doing business in another country means understanding it, you can’t expect to have asuccessful business abroad without making at least the minimum effort of knowing and understanding the country to which you want to enter. Brazil has potential to become one of the most important economies of the world, so this means the interest of foreign investors has grown in the last years, becoming one of the mayor players in the international economy will give Brazil and edge at the time ofopening it’s doors to foreigners, because with each step they take into becoming a superpower more and more investors become interested. Working successfully with Brazilians is your first step toward harnessing that potential. We will analyze business etiquette in Brazil, what to do and what not to do. If you're interested in establishing professional connections with businesspeople in Brazil,...