Brazilian investor Igor Cornelsen was a critic of the country’s former President Dilma Rousseff, a populist leader whose bad fiscal policy has put the country in a prolonged recession. Rousseff was removed and current President Temer along with Finance Minister Joaqim Levy have tried to reign in out of control deficits while also making trade a little easier for foreigners, but there still is a lot of regulations surrounding business here. Cornelsen says you should not give up on investing in Brazil and in fact, if Levy can continue bringing the nation forward, it may be one of the best countries to invest in down the road. There’s just a few tips Cornelsen says you should keep in mind. Check ireport.cnn to know more about Igor Cornelsen
The first tip for investing in Brazil is to find a bank that will deal in your currency and can understand your investment needs. Not all Brazilian banks are the same, so you should at least be familiar with the practices of the five major banks. Second, Cornelsen says you should become familiar with regulations you could be dealing with and formulate a strategy to get around them. It’ll take some work, but if you can do this you’re bound to find a lot of rewards on the other side. And finally, the most important tip Cornelsen suggests is to personally get to know the locals because they may be able to give you good bank or wealth management references.
Igor Cornelsen comes from a banking career lasting nearly 40 years in Brazil. He started as an accounts assistant at Multibanco, a division of national banks in Brazil and the one he worked at in particular was later bought by Bank of America. He would later become CEO of Unibanco and then get a prominent board position at a London-based merchant bank. Cornelsen served many famous businessman both from Brazil and from overseas, and he also served in an advisory role to the government for a while. Today Cornelsen is retired and simply invests because he enjoys showing others how to do it, and you can see other tips he has to offer on his WordPress blog page.