Brazilians have been coming to Miami for years. Until now, I’ve seen them as big shoppers and big buyers of condos, but lately I’ve been thinking there’s more to the story than just a lot of mall-hopping.
My suspicions were confirmed on a recent show when Robert Macaulay, a shareholder at Carlton Fields Jorden Burt, joined us to talk about opportunities for U.S. investors doing business in Brazil and for Brazilian investors seeking to do business here.
Miami has moved to the next level of being a world-class, first-tier city in the minds of well-heeled Brazilians, Macaulay said. More and more Brazilians are buying high-end properties. They’re moving here and investing.
But they need help from someone who knows the rules and can relate to them personally. He describes himself as a quarterback who organizes a team of experts on behalf of the investor to cover issues like real estate investment, immigration and taxes.
Now, you and I know the U.S. dollar has been getting stronger lately, so I had to ask how that trend has been impacting investment interest from Brazil.
Brazilian investment in the U.S. has been tapering due to the stronger dollar, Macaulay said, but on the flip side investment in Brazil has become more attractive for those willing to navigate the market and political risks.
“If you really do your homework and deal with reputable people, you can do well down there,” he said.
To be sure, Macaulay said, Brazil has its economic challenges. Not many people are excited about the upcoming Olympic games as ordinary citizens struggle with inflation and lack of economic growth.
But Brazil is an agricultural powerhouse, and with the U.S. dollar at a 1 to 3 exchange rate with the Brazilian real, real estate investment becomes very attractive, he said.
Politics, of course, cannot be ignored, so I had to ask about Macaulay’s opinion of Brazil’s political stability.
The president there was re-elected under dubious terms, he said, and her system of price controls is nothing short of hard-core socialism. But the economic diversity of the country is providing an opportunity for business interests to resist some of the policies.
For Brazilians seeking to invest here, Macaulay said, the first task is to find a good lawyer. Then look for private companies to invest in or work for – or start your own business.
Brazilians, he said, love how easy it is to set up a business here, and that will help ensure that Brazil remains a major economic partner for Miami.
Contact Macaulay at rmacaulay@cfjblaw.com or visit http://www.cfjblaw.com/rmacaulay.
Click here to listen to the full interview with Robert Macaulay of Carlton Fields Jorden Burt.
