By Leandro Araujo
In his first address to the U.S. Congress, President Joe Biden declared that the United States is finally "ready to boot," giving strong indications that the economy is heating up after the pandemic. He called for support for his agenda on passing taxes and spending and expanding public spending on infrastructure.
The team also wants to implement a $1.9 trillion stimulus plan, in addition to the current fight to get support for $2.3 trillion worth of infrastructure investment. And this prosperous scenario is a real lure for those who want to live in the country, internationalize their assets, or just have a company in foreign lands.
However, it is good to remember that even in the face of so many stimuli for entrepreneurship, it is necessary to be extra careful. After all, we are talking about dollars, and having losses with this currency can be disastrous. And in this context, the consulting services that can be a real guide for those who want to launch themselves into this sea of opportunities come in.
Besides understanding the legal customs, culture, and market where you will operate, it is necessary to be in full agreement with the laws that govern the country, and to launch yourself into this sea alone may not work out very well, besides frustrating all expectations.
All the essential information for the project to be successful is gathered and made available by professionals who have been working in this type of segment for several years and can advise companies or people who want to start up in the area. In addition, doing a tax planning before starting the project is also advisable.
Even before exporting your products or services, it is necessary to understand the size of the demand, study the feasibility of the project, and prepare to adapt to local tastes. Many people question whether there is a right or ideal moment to expand the business abroad or invest in a business outside Brazil. But on the business side, if the company is in a segment where the rising dollar lowers its costs, maybe this is a good time. If we take the personal side, it is always recommended to diversify the asset allocation, with 30% to 50% being in dollars.
But internationalizing business does not mean staying only in the United States. A recent survey by the USNEWS website placed Thailand as the best place to start a business. Other countries like the UK and Canada also appear well ranked, after all they are countries that encourage the attraction of new ventures, where bureaucracy and taxes are not an impediment.
But if the idea is to continue living in Brazil, we have good news. There are many businesses that do not require the physical presence of a manager, such as passive income and real estate rentals. But if the objective is to manufacture and sell a product, it is advisable to have a team in loco.
I have separated some points that can help those who are involved in a project of this type:
1) Hire consulting;
2) Analyze the market study;
3) Verify the impact of taxes and a possible asset shield;
4) Decide which country/state has more synergy with the business purpose and its partners;
5) Start the company;
6) Hire people;
7) Get the necessary licenses and registrations;
8) Start operating.
Many forget that the new country is not exactly the same as Brazil, which puts the whole project at risk.
*Leandro Araujo is the director of financial services at IBC Consulting