Investment guru Igor Cornelsen has three main tips when it comes to investing in Brazil.
Get to Know the Natives
First, he believes it is imperative to interact with the natives and begin networking yourself. If you can make genuine friendships with financial savvy natives, you will greatly increase your business’s chance for success. He encourages you to take advantage of the notoriously social nature of Brazilians and soak up some advice from experienced business people. Read more about Igor Cornelsen
Regulations Run Far and Deep
Next, he warns everyone to prepare for a large amount of bureaucracy. The red tape exists because of the complex regulations, enormous taxes, and rigid labor market. He encourages you to perform detailed research on the regulations and get to know what strategies work in Brazil versus other countries. Igor believes that even though the bureaucratic hassle exists, it ultimately pays off in dividends at the end.
Nothing Is Ever Free
Finally, the top Brazilian banker warns you must be well educated on the foreign currency restrictions since transactions are tightly controlled. He stresses that you must ensure you are using the correct rate for the correct transaction and that foreign currency has no single exchange rate.
The investment expert firmly believes in a diverse portfolio so you can minimize your risks and gain revenue from multiple sources. He also believes in having a mixture of both sound and risky ventures, but in any case to start as soon as possible as time is of the essence.
On a personal level, the most appealing tip from Igor Cornelsen was the importance of connecting with the natives of Brazil. Since business relationships are a fundamental building block of success in that country, networking would be key to garnering new ideas that ultimately lead you to reap the maximum benefits.
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