Canadians in brazil

[santosg]

Would it be a good idea for a canadian citizen to deposit like 3 million usd in offshore banks across brazil? Would this amount be too risky to leave in brazil?

 

[JackAlabama]

Would it be a good idea for a canadian citizen to deposit like 3 million usd in offshore banks across brazil? Would this amount be too risky to leave in brazil?

If someone asks this question, the answer is most probably no, not a good idea.

 

[g1gltd]

Would it be a good idea for a canadian citizen to deposit like 3 million usd in offshore banks across brazil? Would this amount be too risky to leave in brazil?

There are much more exciting ways to lose your money... If you don`t have any business or personal dealings in Brazil that would require you spending a significant amount of time in the country this is not practical or logical. Even in that case you`d be better off putting a much smaller investment into real estate and development to gauge your intestinal fortitude for the market. That market can flip overnight based on a single event. I`m personally attached there so there`s some benefit into my holdings there as I need to have them long term no matter if I want to or not and 98% of what we hold there originates from the region. Remember that`s a market that can flip on a single event or press conference.

 

[jafo]

Would it be a good idea for a canadian citizen to deposit like 3 million usd in offshore banks across brazil? Would this amount be too risky to leave in brazil?

What happened? Met a few "great" girls at Café Photo?

I deal with Brazilian wholesalers/importers on a daily basis and NONE of them trust Brazilian banks. The amount of fraud in Brazil is astonishing. They are called "golpe". The "official" report is that there is a fraud every 10 seconds No Brasil, um golpe de fraude acontece a cada 10 segundos
I believe this number is the reported number. I'll bet BIG money it's 10 "golpes" every second.

Also, Brazil has NO offshore banks (that I know of).

Don't mess with Brazil or any other country in Latin America if you have a lot of money and aren't politically connected and privileged. Look what they did to the son of the President of an African country: Relógios de filho de ditador africano apreendidos pela PF somam R$ 15 milhões

Also, with $3M just open an account in Monaco or Switzerland. Buy an apt in Uruguay and go live in Brazil if you want. You do NOT want the CRS to report you to receita federal in Brazil with US$3M in the account. Seriously...that is suicide!