Brazil History, Economy, and Culture

Brazil is the fifth largest country in the world, and derives its name from a tree called Brazil wood. The country is known for its passion for soccer/football and every city in Brazil has a stadium.

Despite football being a major contributor to Brazil’s economy, the country has a mixed economy and a GDP of $ 2.080 trillion, according to the International Monetary Fund. It also has a vast amount of natural resources including iron, gold, and uranium; it is estimated that Brazil also has a total $21.8 trillion worth of untapped resources. Its fertile and enormous landmass makes the production of different agricultural products possible, making agriculture the main contributor to its economy. Brazil is the largest economy in Latin America and second largest in the Americas, after the U.S.

Brazil is also known for its rich culture and local traditions and events such as Carnaval, local rituals like Candomble, martial arts such as the Capoeira and even soccer cults.

2021
April 2Good Friday
April 21Tiradentes Day
May 1Labor Day / May Day
June 3Corpus Christi
September 7Independence Day
October 12Our Lady of Aparecida / Children’s Day
October 28Public Service Holiday
November 2All Souls’ Day
November 15Republic Proclamation Day
December 24Christmas Eve (from 2pm)
December 25Christmas Day
December 31New Year’s Eve (from 2pm)
  • Sociedade limitada (Ltda.))
  • S.A. (Sociedade anônima))
  • Sociedade simples
  • Sociedade em comandita simples
  • Sociedade em nome coletivo
  • Sociedade em conta de participação
  • Sociedade em comump
  • Cooperativa
  • Empresa individual (firma individual)
  • Empresa Individual de Responsabilidade Limitada (EIRELI)
  • Micro empreendedor individual
  • Empresa pública
  • Sociedade de economia mista
  • Associação em sentido estrito (sem finalidade lucrativa)
  • Organização não governamental
  • Organização da sociedade civil de interesse público
  • Organização socialn
  • Serviços sociais autônomos
  • Fundação privada
  • Fundação pública
  • Corporate Tax: 34%
  • Income Tax (Lowest Marginal Rate): 0%
  • Income Tax (Highest Marginal Rate): 27.5%
  • VAT/GST/Sales Tax: 17% (lowest rate), 25% (highest rate)
  • Banco do Brasil (Local Bank)
  • HSBC (Commercial Bank)
  • Banco J Safra S/A (Commercial Bank)
  • Banco Itaú (Commercial Bank)
  • Banco PanAmericano S/A (Commercial Bank)
  • Banco Santander (Commercial Bank)
  • Citibank (Commercial Bank)
  • Banco do Brasil (State Bank)
  • Banestes (state-owned) (State Bank)
  • Caixa Econômica Federal (State Bank)
  • Banrisul (state-owned) (State Bank)
  • Banco do Estado do Rio Grande do Sul S/A (State Bank)
  • Banco Real (Foreign Bank)
  • Citibank (Citigroup) (Foreign Bank)
  • HSBC Bank Brasil (Foreign Bank)
  • Banco Santander Banespa (Foreign Bank)
  • Itaú Unibanco (Private Bank)
  • Banco Safra (Private Bank)
  • Banco Prosper (Private Bank)
  • Bradesco (Private Bank)

Aadmi can support you with your expansion to Brazil. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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