This post is also available in: Portuguese (Brazil)
By Karine Rabelo & Jefferson Calili
The economic crisis that Brazil has been facing might have left many investors apprehensive about investing in the country. Many Brazilians that reside in the United States must be questioning if it is worth sending money back to their homeland, and many Americans are afraid to invest there.
That fear, however, is irrational. Indeed, it is time to invest in Brazil, to make sure your legal life is up to date, to reestablish your credit score and organize your affairs there. There are three aspects that we can highlight: 1) the dollar’s increase has raised the value of the North-American currency; 2) many people are selling their homes, businesses and proprieties at a rate below market value; and 3) Brazil, as every country, faces bad and good moments, meaning that the present circumstances will change, and those that have planted their seeds now will harvest rewards in the future.
Attorney Jefferson Calili Ribeiro advises that Brazilians take advantage of that opportunity and make sure their Brazilian documents are up to date. “Many people have been married or divorced in the United States and still haven’t changed their documentation in the country [Brazil]. There are commercial debts that with taxes do not allow the person to get credit. This is the time to update all your documents because the dollar value has risen, and people need money and are willing to renegotiate their debts.”
Even foreigners should be attentive to several opportunities to invest their money in real estate and other safe investments that will generate good revenue in the future, when the country has overcome the present crisis.
Law Professor Jamir Calili, Federal University of Juiz de Fora, points out that the crisis should last for another year and a half, but that the country will come out of it stronger. Those that have invested now will be rewarded later.
People who are planning to invest in real estate should always seek the assistance of a licensed broker with the Federal Council of Engineering and Agronomy (CREA), and avoid falling for fraudulent schemes. According to Karine Rabelo: “The price of real estate property has dropped significantly; there are many things available for sale. Time is favorable for real estate purchases.”
Despite the uncertainty, Brazil is a country with judicial and political stability. There is no climate of war or terror, but rather a strong political impasse, which may dissipate as the crisis settles. Investors should remain patient and take advantage of that moment to buy and sell while prices are high. Brazilians that live in the United States always wait for an opportunity to return home, but until that happens, it is good to make new investments to guarantee a return on the money invested.
Furthermore, Brazilians that invest in Brazil during the crisis help the country to overcome it faster, bringing foreign currency to the internal Brazilian market.
This article was written by Karine Rabelo, real estate broker, and Attorney Jefferson Calili. To contact them to answer any questions you may have, email firstname.lastname@example.org or email@example.com.