There are advantages and also potential challenges for NI companies doing business in Brazil.
- strong industrial, business and consumer base
- a sustained period of economic growth
- European-oriented culture and business practices
- political stability and a solid democracy
- most of the world’s largest investment banks are headquartered in São Paulo
Brazil has an enormous potential for Northern Ireland companies, but it will take time, money and effort.
- complex tax system with high taxes
- long journeys between cities and states, where cultures can vary significantly
- a lot of importance is put on personal contact, you may need to visit several times before securing a deal
- ranked 72 in the Transparency International’s corruption perception index (CPI)
- organised crime is a significant problem in some parts of Brazil