Trading in Brazil?
- Thread starter richie90
- Start date
The only downside is there isn't job for foreigner, you got to
set up business yourself. Also if you don't like Asian people,
culture, food, warm weather, life will suck here.
They call it "culture shock", "Land of Make Believe", "Land of
smile and beautiful women", an so on....
I know foreigners who avoid handshake and prefer to wai,
but they have gone to far.
I wanted to pay a visit to brazil, last Jan, but found Air fare
cost almost 3 times what i pay to bangkok from Dubai, and
carnival near, price doubling for everything. I was told overall
brazil isn't much safe also, considering Bangkok 100% safe.
There are tens of millions educated Thai girls that aren't
working girls here. People have got misconception about
thai people. Thai people are very conservative, shy and
polite in public, but more aggresive in bed.
I would come here, even sex industry closed everywhere.
I don't think about sex anymore, because sex is readily
available if you are nice enough guy.
I don't play the field much anymore, and nothing has
changed for me since last four year i landed me feet here.
EASTERN BEDS ARE SOFTER, i promise that
====================================
Frankly I only have a neat picture of the awesome uptrending Andes mountains near my trading desk.
Luv the repeating pattern of Argentina Safari & Uruguay Safari;
near Montevideo Uruguay,
and Argentina areas of Cordoba & Jesus Maria.
I'm Brazilian and have been living in Canada and US for over 7 years.
I have be honest with you, as far as crime or rampant crime, Rio is no different than LA -- you can say whatever you want, but that's plain true.... that being said, if you can live in LA, you can definetely live in Rio for a while, with some differences:
1. Amazingly good looking people, tan, BEAUTIFUL CITY, friendly people ... you won't regret
2. Rio has the infrastructure that you need - high speed connection, major US banks
3. Choose a place in Barra da Tijuca (best beach in Rio)
By living there for 6 months or more, you have to manage your RISK as far as finding the girl of your life or having too much fun...
Have fun and forget about anyone telling otherwise... if you want, please feel free to contact me directly.
Cheers -- Bemvindo ao Brasil!
I have be honest with you, as far as crime or rampant crime, Rio is no different than LA -- you can say whatever you want, but that's plain true.... that being said, if you can live in LA, you can definetely live in Rio for a while, with some differences:
1. Amazingly good looking people, tan, BEAUTIFUL CITY, friendly people ... you won't regret
2. Rio has the infrastructure that you need - high speed connection, major US banks
3. Choose a place in Barra da Tijuca (best beach in Rio)
By living there for 6 months or more, you have to manage your RISK as far as finding the girl of your life or having too much fun...
Have fun and forget about anyone telling otherwise... if you want, please feel free to contact me directly.
Cheers -- Bemvindo ao Brasil!
just spent jan-feb traveling argentina, chile, and uruguay.
if city life is what you are after...then i would highly recommend Buenos Aires.
Crazy nightlife. Super Hot Chicas. Great food. Super cheap. Friendly people. Safe.
PM me if you want any specifics as to rent, neighborhoods, internet connectivity, etc.
-jeff
if city life is what you are after...then i would highly recommend Buenos Aires.
Crazy nightlife. Super Hot Chicas. Great food. Super cheap. Friendly people. Safe.
PM me if you want any specifics as to rent, neighborhoods, internet connectivity, etc.
-jeff
It's very important to keep in mind that any "international" bank is strictly regulated by the laws of the country they are located in.
Remember Argentina's crise?
If you had your money in a bank ,no matter where, kiss it goodbye...
Many branches simply closed for good.
So my advice is, open an account and transfer only the money you need to live for a couple of months.
Also, the current banking laws and services in Brazil makes you think of really heavy marxist regimes. The bureaucracy here in Brazil is huge - amazingly huge - and probably a way of keeping the unemplyment lines thin.
Public services and banks are in dire need of reforms and badly needed efficency improvements. E.g. to do a SWIFT transfer it is impossible to do over any internet banking facility; neither Bradesco - the country's largest private bank nor HSBC - "the world's local bank" are any different in this respect. You need to spend a hefty time waiting to talk to a "gerente"/manager to do it and you need the signatur of various people. It's very frightening if you are accustomed to any efficient banking practices.
If you move money into the country with the notion of moving it out again - think again! A lot of stories of the central bank confiscating foreigners money. The rules are diffuse - sometimes hard to find - and few people speak good english. Some fairly good standards of publishing information on the Internet is virtously present in many of the ministeries e.g http://www.receita.fazenda.gov.br - if you are into portuguese legalese.
Even in Morumbi - the business district of Sao Paulo - I spent at least 90 minutes with head managers to explain to them how to do a "online VISA transaction" - by the way - the only "failsafe" way of moving money quickly. This way I could move "unlimited" large sums with a administrative cheque or cash (albeit only with Bradesco - most banks have a USD 5000 equivalent limit withdrawal per day set by the central bank). To withdraw sums over R$ 1000 (reais - local currency - roughly USD .32 per R$ 1) - you have to pre-order money 3 days in advance. If you are a Bank of Boston or Citibank customer - you can find agencies in the south of Brazil which are a bit more helpful.
With some ATMs - like "24h Banking ATM's" you can get around the R$ 1000 withdrawal limit per day. E.g Amex Platinum/Gold and some nice limit will let you do various R$ 2000 withdrawals. Otherwise the VISA+passport and some hefty explaining of the VISA system to the local bank manager might get you lucky - albeit only in Bradesco or Citibank (perhaps Bank of Boston) as far as I know.
My view is that although Sao Paulo (and adhering surroundings - part of Grande Sao Paulo) is a whopping 24 million people - the bank agencies and the whole infrastructure reminds one of a frail village's weak infrastructure - only mulitplied - replicated many times over. Things work the same in the big city - even the most posh business district - only with duplications all over the place.
On another note - if you love pizza - like I do - this will be your worst nightmare - as it seems noone knows how to make a good pizza - neither the italian style nor the thick-dough one(which is a little harder to find).
I have not had any big problems involving money here - but that's because I haven't made the mistake of moving anything significant into the country - except for my car and house (roughly USD 150 000). Taxation is lax -and it seems most don't pay any - except for a socially unjust sales tax (ICMS) which makes it tough when a third of the country's population lives on roughly 1 USD per day. Ignorance and corruption is rampant - and sometimes you hear how it's all the financial speculant's faults - even textbooks in schools and TV educational programs blame "foreign speculants", europeans and americans for the misery in the country. With only 4 hours of rather weak school hours per day - even high school - and hilarious multiple choice school tests it is further compunding the impression of a struggeling country with a tough foreign debt future. I think it was something of the equivalent of USD 5000 in debt per person (USD denominated debt). If they could manage to do the same as asian countries did and renominate this debt into local currency they might be better off.
It is also extremely difficult with regards to financing - and the interest rates are among the highest in the world - well surpassing 100% per year. There is no way to valuate one's house to refinance - only car's which have a fixed semi-valuation by a regulated list (FIPE) of used car's value.
So for those looking to stay for a while I think the best option is renting everything - except if you look into speculating with regards to the highly unstable local currency and inflation hikes. Renting would also ease exposure to the red tape juggernaut.
Buying anything from abroad is not an option - a "little flat 60%" on imported goods - including freight - makes sure of that. So make sure everything is wrapped in gift paper and is boxed as new when you get presents from friends or family - although parcels may take up to 2 months - read: christmas presents.
If you like Soviet-style "bread-queues", then you're in luck. Otherwise, there's always the dirty money route with bribeing your way through - and it seems moral conscience is not the strongest nor most valued perk around here.
PS. All (or most?) telephone calls are recorded - but ony released to police when a judge ok's it. A kind of different view on privacy laws here ... Remember - torture in prisons was made illegal only a few years ago. It's a new democracy with a recent military dictatorship history - a lot of "king of the hill" mentality with public servants, and frequent strikes by police, immigration officials and other public workers. If you're a US citizen - do not give the immigration officials the finger when they take your photo as part of the US-tit-for-tat-game - as those have been fined around USD 100 000 and deported after a night in jail - in higly publicized and gloating news reports. Also - around 600 000 people have been assassinated in the last 20 years here. That's a number higher than some of the world's wars. Other than that it's all sun and beaches - with one eye watchfully alert.
Public services and banks are in dire need of reforms and badly needed efficency improvements. E.g. to do a SWIFT transfer it is impossible to do over any internet banking facility; neither Bradesco - the country's largest private bank nor HSBC - "the world's local bank" are any different in this respect. You need to spend a hefty time waiting to talk to a "gerente"/manager to do it and you need the signatur of various people. It's very frightening if you are accustomed to any efficient banking practices.
If you move money into the country with the notion of moving it out again - think again! A lot of stories of the central bank confiscating foreigners money. The rules are diffuse - sometimes hard to find - and few people speak good english. Some fairly good standards of publishing information on the Internet is virtously present in many of the ministeries e.g http://www.receita.fazenda.gov.br - if you are into portuguese legalese.
Even in Morumbi - the business district of Sao Paulo - I spent at least 90 minutes with head managers to explain to them how to do a "online VISA transaction" - by the way - the only "failsafe" way of moving money quickly. This way I could move "unlimited" large sums with a administrative cheque or cash (albeit only with Bradesco - most banks have a USD 5000 equivalent limit withdrawal per day set by the central bank). To withdraw sums over R$ 1000 (reais - local currency - roughly USD .32 per R$ 1) - you have to pre-order money 3 days in advance. If you are a Bank of Boston or Citibank customer - you can find agencies in the south of Brazil which are a bit more helpful.
With some ATMs - like "24h Banking ATM's" you can get around the R$ 1000 withdrawal limit per day. E.g Amex Platinum/Gold and some nice limit will let you do various R$ 2000 withdrawals. Otherwise the VISA+passport and some hefty explaining of the VISA system to the local bank manager might get you lucky - albeit only in Bradesco or Citibank (perhaps Bank of Boston) as far as I know.
My view is that although Sao Paulo (and adhering surroundings - part of Grande Sao Paulo) is a whopping 24 million people - the bank agencies and the whole infrastructure reminds one of a frail village's weak infrastructure - only mulitplied - replicated many times over. Things work the same in the big city - even the most posh business district - only with duplications all over the place.
On another note - if you love pizza - like I do - this will be your worst nightmare - as it seems noone knows how to make a good pizza - neither the italian style nor the thick-dough one(which is a little harder to find).
I have not had any big problems involving money here - but that's because I haven't made the mistake of moving anything significant into the country - except for my car and house (roughly USD 150 000). Taxation is lax -and it seems most don't pay any - except for a socially unjust sales tax (ICMS) which makes it tough when a third of the country's population lives on roughly 1 USD per day. Ignorance and corruption is rampant - and sometimes you hear how it's all the financial speculant's faults - even textbooks in schools and TV educational programs blame "foreign speculants", europeans and americans for the misery in the country. With only 4 hours of rather weak school hours per day - even high school - and hilarious multiple choice school tests it is further compunding the impression of a struggeling country with a tough foreign debt future. I think it was something of the equivalent of USD 5000 in debt per person (USD denominated debt). If they could manage to do the same as asian countries did and renominate this debt into local currency they might be better off.
It is also extremely difficult with regards to financing - and the interest rates are among the highest in the world - well surpassing 100% per year. There is no way to valuate one's house to refinance - only car's which have a fixed semi-valuation by a regulated list (FIPE) of used car's value.
So for those looking to stay for a while I think the best option is renting everything - except if you look into speculating with regards to the highly unstable local currency and inflation hikes. Renting would also ease exposure to the red tape juggernaut.
Buying anything from abroad is not an option - a "little flat 60%" on imported goods - including freight - makes sure of that. So make sure everything is wrapped in gift paper and is boxed as new when you get presents from friends or family - although parcels may take up to 2 months - read: christmas presents.
If you like Soviet-style "bread-queues", then you're in luck. Otherwise, there's always the dirty money route with bribeing your way through - and it seems moral conscience is not the strongest nor most valued perk around here.
PS. All (or most?) telephone calls are recorded - but ony released to police when a judge ok's it. A kind of different view on privacy laws here ... Remember - torture in prisons was made illegal only a few years ago. It's a new democracy with a recent military dictatorship history - a lot of "king of the hill" mentality with public servants, and frequent strikes by police, immigration officials and other public workers. If you're a US citizen - do not give the immigration officials the finger when they take your photo as part of the US-tit-for-tat-game - as those have been fined around USD 100 000 and deported after a night in jail - in higly publicized and gloating news reports. Also - around 600 000 people have been assassinated in the last 20 years here. That's a number higher than some of the world's wars. Other than that it's all sun and beaches - with one eye watchfully alert.
thx great first hand infos!
If you plan to stay for a short time 3-6 months, traveller cheques might be a good option.
Altough finding a bank which will change them without much hassle can be another "experience" of living in paradise.( I don't have direct experience with Brasil on this matter though)