Originally posted 2014-08-13 11:00:56.
By Chloe Coska | amdlawgroup.com
Brazil is one of the fastest growing economies in the world, Brazil has also become a manufacturing center which means that exporting and importing can be a lucrative business. The Brazilian government heavily encourages business entrepreneurship and investments in the country. Brazil could be an obvious choice for companies to do business, however, there are many factors to consider and requirements in order to do proper business conduct in the country.
A company which wishes to approach the Brazilian market should know about the Customs regulations.
There are some differences in customs that a business entrepreneur should know when conducting a transaction. Brazilians do not like ambiguous situations. Like their fellow Latin Americans, they thrives for a legal system and rules in order to regulate situations.
The entrepreneur should also be aware of regulations. The Brazilian government provides a legal guide for foreign investors available online (http://www.brasilglobalnet.gov.br/frmprincipal.aspx). This guide has been made in order to simplify the process for the foreign investor.
While Brazil is becoming one of the most prominent and lucrative markets in the world, there are several factors that still render business in Brazil challenging.
One of the most recurrent problems is the lack of information concerning standards and procedures for regulating imports in the country, where institutions both private and public are available to assist in the coordination of trade transactions.
This can have a deterrent effect on small businesses because collecting information on the Brazilian market can be expensive.
However, the Brazilian government is aware of those challenges and has launched the program called Competitive Substitution of Import. This program aims at increasing transparency for countries that want to trade in Brazil.
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