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Brazil Focus

Brazil: A Strategic Gateway to Latin America

As Latin America’s largest economy and a member of the BRICS alliance, Brazil continues to attract global investors with its vast natural resources, diversified industrial base, and expanding consumer market. In 2025, Brazil’s GDP growth is projected at 2.4%, bolstered by strong agricultural output and industrial resilience, despite high interest rates and inflationary pressures .

Key Economic Indicators
  • GDP Growth (2025): 2.4% (revised upward from 2.3%)
  • Inflation (2025): 5.0%
  • Interest Rate: 14.75%
  • Population: Over 216 million
  • FDI Inflows: Brazil consistently attracts over 50% of South America’s total FDI

Strategic Sectors

Renewable Energy & Sustainability

Brazil’s commitment to environmental stewardship has opened avenues in renewable energy and sustainable agribusiness. The country’s biodiversity and green initiatives make it a leader in this sector.

Technology & Innovation

With a burgeoning start-up scene and government support for innovation, Brazil offers fertile ground for tech investments, particularly in fintech, e-commerce, and AI-driven solutions.

Infrastructure Development

The “New PAC” (Growth Acceleration Program) launched in August 2023 earmarks BRL 1.7 trillion for infrastructure projects, including transportation, energy, and digital connectivity, presenting significant opportunities for investors.

Rare Earth Minerals

Brazil’s vast reserves of rare-earth elements are attracting international attention, with projects aimed at diversifying global supply chains and reducing reliance on traditional sources .

Regulatory Landscape

Brazil’s regulatory framework has long been considered complex. However, in recent years—and particularly entering 2025—the country has made significant strides toward modernization, aiming to improve its ease of doing business, simplify tax structures, and encourage foreign direct investment.

Major Tax Reform

Brazil is undergoing one of the most comprehensive tax reforms in its history. The landmark tax reform, set to roll out from 2026, introduces two unified consumption taxes—IBS and CBS—replacing a complex mix of federal, state, and municipal levies. This shift will streamline compliance, reduce cascading taxes, and promote greater clarity for businesses planning long-term operations.

Global Alignment on Transfer Pricing

Brazil’s new transfer pricing rules now align with OECD standards, ensuring consistency with global best practices. This alignment enhances legal certainty and reduces tax disputes, especially for multinationals operating in multiple jurisdictions.

Digitalization and Speed

Business registration and compliance processes have become faster and more accessible. Platforms like REDESIM and eSocial enable digital incorporation, streamlined tax reporting, and simplified labor obligations—all contributing to a more agile business setup.

Evolving Labor and Sector Regulations

Reforms in labor laws and flexible employment contracts offer employers more adaptability. Sector-specific updates—such as ANVISA’s streamlined approvals for medical devices, and incentives for infrastructure and green energy—make Brazil increasingly appealing for innovation-driven investment.

Data Protection & Governance

Brazil’s data privacy law, LGPD, is fully enforced and aligned with international standards, reinforcing Brazil’s commitment to responsible digital growth.

A Vast Land of Diversity and Economic Dynamism from North to South

Brazil spans half of South America’s landmass, making it the world’s fifth-largest country and the seventh most populous. It accounts for one-third of the entirety of Latin America’s population. The country extends approximately 4,350 kilometres from north to south and from east to west, forming an enormous triangle that envelops diverse tropical and subtropical landscapes.

North

In the North, which is the country’s largest region, mining and raw material extraction are pivotal to the economy. The Manaus Free Trade Zone – home to industrial and agricultural hubs – is located here.

Northeast

Moving to the Northeast, regional economic pursuits include information technology, oil extraction, agriculture, livestock production, honey production, and shrimp fishing.

Central-West

In the Central-West region, livestock and commercial agriculture serve as key economic drivers, alongside a smaller industrial sector comprising pharmaceutical and fertiliser manufacturing.

Southeast

The Southeast, where Rio de Janeiro and São Paulo are located, thrives on a large service sector with telecommunications, banking, and capital markets. It also hosts a diverse industrial base encompassing automotive, metallurgical, petrochemical, and food industries.

South

Finally, in the South, agriculture, livestock, wheat and soybean cultivation, extraction activities, and energy production form vital parts of the economy.

Popular investment destinations

Sao Paulo

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Rio de Janeiro

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Minas Gerais

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Paraná

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Bahia

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Piauí

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Santa Catarina

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Our Affiliates in Brazil

CW provides services in Brazil through our affiliate partners based in the country. Our extensive network in Brazil encompasses a diverse array of organizations. Among these, we have chosen to highlight key partners known for their unique services, designed to meet the varied requirements of companies looking to expand their operations in Brazil.

Brazil-China Chamber of Commerce (CCCB)

The Brazil-China Chamber of Commerce (CCCB) aims to strengthen commercial ties between Brazil and China while contributing to effective communication between companies and entrepreneurs both in China and Brazil. It is equipped with a specialized team of professionals in Brazil and China, ready to meet affiliates and customers’ diversified demands.

Taticca

TATICCA is a Brazilian firm that provides external and internal auditing, tax, business consulting and advisory services, corporate finance, training, technology, expertise and investigations, sustainability, risk mapping, accounting and related services. TATICCA is a member firm of ALLINIAL GLOBAL, a global alliance of independent auditing, accounting and consulting entities.

Seamless Market Entry and Growth Solutions

CW’s local partners offer a comprehensive suite of services designed to guide your business through the complexities of establishing and expanding in Brazil’s vibrant market. Our affiliate firms of experts specializes in market entry strategy, legal compliance, operational setup, and ongoing support, ensuring a smooth transition and sustainable growth. 

Sales Prospection Services
Market Research and Analysis
  • Industry Insights: Study the specific industry of the products to be commercialized, focusing on trends, consumer behavior, and key players in the Brazilian market.
  • Competitor Analysis: Identify major competitors and their strategies, market share, strengths, and weaknesses.
  • Target Audience Identification: Define the demographics, preferences, and buying behavior of the potential customers.
Regulatory Compliance and Local Partnerships
  • Legal Framework: Understand and adhere to Brazilian business laws, import regulations, tax requirements, and any industry-specific regulations.
  • Local Partnerships: Establish relationships with local businesses, distributors, or agents who understand the Brazilian market dynamics and can facilitate smoother market entry.
Marketing and Promotional Activities
  • Branding and Localization: Adapt branding, packaging, and marketing materials to suit local tastes and cultural nuances.
  • Digital Marketing: Leverage online platforms popular in Brazil, such as social media and e-commerce portals, for advertising and sales.
  • Offline Marketing: Consider traditional marketing channels like TV, radio, and print, especially in regions with less internet penetration.
Initial Consultation and Needs Assessment
  • Understand Client Goals: Identify the specific business objectives, industry, and scale of the foreign company’s intended operations in Brazil.
  • Service Customization: Tailor the service offerings based on the client’s needs, whether they require a full setup package or specific assistance like legal advice or market research.
Market Entry Strategy
  • Feasibility Study: Conduct a thorough analysis of the market potential, including demand for the company’s products or services, competitive landscape, and regulatory environment.
  • Entry Strategy: Develop a detailed market entry strategy, including the type of entity that best suits the client’s business model (e.g., subsidiary, joint venture, franchise).
Legal and Regulatory Compliance
  • Company Registration: Assist with the registration of the company with Brazilian authorities, including obtaining a corporate tax identification number (CNPJ).
  • Legal Framework: Provide guidance on Brazilian corporate law, labor law, tax obligations, and industry-specific regulations.
  • Permits and Licenses: Help obtain necessary permits and licenses for operating in Brazil.
Financial Setup
  • Banking: Assist in setting up corporate bank accounts and advise on financial regulations and compliance.
  • Accounting and Taxation: Provide accounting services, tax planning, and compliance management to ensure adherence to Brazilian tax laws and accounting standards.
Ongoing Support and Consultancy
  • Business Support Services: Offer ongoing legal, financial, and administrative support to ensure smooth operations.
  • Advisory Services: Provide strategic advice to adapt to market changes, regulatory updates, and growth opportunities.

Looking to expand your business globally? 

Get in touch with us today.

CW CPA is a professional advisory and CPA firm offering accounting and financial reporting, audit and assurance, corporate secretarial, HR process outsourcing, tax advisory and China consulting services, with offices in Hong Kong, Shenzhen, Guangzhou and Shanghai in China, Barcelona in Spain, London in the UK, Bogotá in Colombia, Belo Horizonte and São Paulo in Brazil. CW CPA is a member of Allinial Global, an award-winning association of legally independent accounting and consulting firms whose members collaborate to bring their clients best-in-class solutions. 

Copyright © 2025 CW CPA. All rights reserved. 

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São Paulo

Located in southeastern Brazil, the economic heartland, São Paulo, is the country’s most densely populated region. Its state capital that shares the same name is the largest city in Brazil. Accounting for nearly one-third of national GDP and over one-fifth of the national population, the state is the most economically productive. It is no wonder that São Paulo is designated the “locomotive of Brazil”. Most of the state’s production and employment is centred around manufacturing and services, primarily in the state capital and its surrounding areas. In addition to being a major producer of coffee, the state constitutes around one-third of the country’s goods and services. The manufacturing sector encompasses automobiles, consumer goods, electronic equipment, and food products.

Home to over 40% of the automotive industry’s manufacturing plants, São Paulo serves as the national automotive hub. The state hosts many industry heavyweights, such as Ford, General Motors, Honda, Hyundai, Mercedes Benz, Toyota, and Volkswagen.

São Paulo has been an investment magnet for world-renowned car producers. Hyundai, which already owns a plant in São Paulo with the capacity to manufacture 220,000 vehicles per year, will be investing more than USD 1.1 billion by 2032. The planned investment is slated to prioritise cutting-edge technologies, particularly in the development and production of hybrid, electric, and green hydrogen vehicles.

In March 2024, Toyota unveiled a substantial USD 2.22 billion investment in Brazil – a move anticipated to create approximately 2,000 new job opportunities. The Japanese automotive giant already owns plants in Indaiatuba, Sorocaba, and Porto Feliz, all in São Paulo. The investment blueprint includes a comprehensive upgrading of Toyota’s facilities in Sorocaba and Porto Feliz. The expansion, set to begin in the latter municipality by 2025, entails the integration of hybrid systems into engine production. Meanwhile, in Sorocaba, the focus will be on battery production, with operations commencing in 2026.

Fintech has sparked a revolution in banking services on Brazilian soil. The rapid proliferation of digital payments has reshaped the country’s innovative financial

landscape. The digitally savvy nation has been at the vanguard of advancing financial inclusion across the whole of Latin America. The banking transformation was ignited in the economic heartland, São Paulo, which has spearheaded the boom in recent years.

São Paulo is home to a multitude of fintech and insurtech unicorns. Nubank, established in São Paulo in 2013, has evolved into one of the world’s largest digital banking platforms. Today, it provides financial services to over 53 million customers. Recent data indicates that Nubank has extended financial access to 5.6 million individuals who were previously unbanked. Other prominent players include C6 Bank, PagSeguro, Creditas, and Unico.

Rio de Janeiro

Located in southeastern Brazil, the state Rio de Janeiro has the second-largest economy in the country. Its state capital that bears the same name is known as the “marvellous city”. The city’s attraction extends beyond its appeal to tourists. As the second most populous city in Brazil and a key commercial hub, the state capital has become an epicentre for aspiring entrepreneurs. Boasting a lively consumer market and well-developed infrastructure, the city Rio de Janeiro has become a touchstone in many sectors, including biotechnology, creative economy, energy, oil and gas, and tourism, for other parts of the country. This, coupled with a distinct entrepreneurial spirit, cements the marvellous city’s status as a go-to destination for ambitious business ventures.

The e-commerce sector in Brazil as a whole is experiencing an unprecedented surge, with projections indicating that it will surpass the USD 200 billion mark by 2026. Rio de Janeiro has emerged as a key driver of this growth, commanding a substantial portion of the market. Together with neighbouring São Paulo, Rio de Janeiro accounts for 51% of total e-commerce market growth in the country. In addition, more than 63% of e-commerce consumers in Brazil reside in the southeast region, encompassing Rio de Janeiro, São Paulo, Minas Gerais, and Espírito Santo.

The municipality of Rio de Janeiro has enacted various preferential tax policies to encourage certain business activities. Municipal Law 7.000/2021 stipulates a reduced Imposto sobre Serviços de Qualquer Natureza (“ISS”) tax rate of 2% for companies located in specified regions and engaged in specific activities, such as biotechnology, IT services, and research and development. In addition, Law 1.153/2022 and Bill 1822/2023 propose reduced ISS rates for services related to green initiatives as well as games and betting. On a separate front, Decree 51,498/2022 allows eligible taxpayers to use cryptocurrency wallets to pay taxes, advancing the integration of digital currencies and blockchain technologies.

Minas Gerais

Situated in southeastern Brazil, Minas Gerais is known for being the nation’s repository of mineral wealth. This is reflected in its Portuguese name, which translates to “General Mines”. Hence, it is little surprise that mining activities play a preponderant role in the state’s economy. Minas Gerais is home to more than 300 mines and is Brazil’s top producer of beryllium, gold, graphite, iron ore, phosphate, steel, and zinc. The capital of Minas Gerais is Belo Horizonte, which is located in the south-central region of the state.

Thanks to its expansive land, fertile soil, and abundant water resources, Minas Gerais naturally thrives in the field of agribusiness. The state is a major contributor to Brazil’s agricultural output, notably in the production of coffee and potatoes. It ranks among the top producers of beans, sugarcane, garlic, and sorghum, while also leading the nation in dairy production. Agricultural exports from Minas Gerais enjoyed a flying start in January 2024, reaching USD 1.1 billion. This represents a growth of 6.7% compared to the same period in the previous year. Minas Gerais has been reaping the benefits of China’s increased demand for food – the primary importer of its agricultural products.

In the northern region of Minas Gerais, the traditional savanna scenery, once characterised by cattle ranches and banana plantations, is swiftly giving way to never-ending rows of solar panels. The proliferation of solar farms in Janaúba, situated 550 kilometres from Belo Horizonte, is emblematic of this trend. This is also evident in other municipalities in the state’s northern and northwest regions that host the majority of photovoltaic energy generation projects. The areas are blessed with high solar irradiation levels and lower land prices, drawing a large influx of investment.

According to the Brazilian Photovoltaic Solar Energy Association, Minas Gerais is at the forefront of photovoltaic solar power generation projects. It boasts a total installed capacity of 6.06 gigawatts, which is the outcome of investments amounting to BRL 25.1 billion.

Paraná

Paraná, located in southern Brazil and bounded to the east by the Atlantic Ocean, has the fifth-largest economy. Known for its rich agricultural output, the state is one of Brazil’s chief producers of coffee, soybeans, maize, wheat, sugarcane, and other crops. It is also a significant producer of livestock and dairy products. Besides in agribusiness, Paraná maintains a strong foothold in the automotive, plant extraction, and paper industries.

An overwhelming proportion of agricultural production in Brazil is attributed to well-stablished cooperatives. Paraná is the proud host of the world’s largest agricultural cooperative. As one of the top grain producers in Brazil, the region boasts substantial supply capacity for the food sector. In 2023, agricultural exports from Paraná surpassed 30 million tons, marking a pronounced jump of 40.8% compared to the 21.3 million tons exported in the preceding year.

Brazil’s Secretary of State for Agriculture and Supply, Norberto Ortigara, highlighted that Paraná maintains a distinct productive identity as an agricultural state. The state is continuously sharpening its capabilities in value addition relating to the conversion of primary products and expanding its presence in both domestic and international markets.

For over four decades, the automotive industry has been an integral part of Paraná’s economic identity. It dates back to the establishment of the country’s first truck factory in the state. Today, renowned automotive giants, such as Audi, Caterpillar, Fiat, Nissan, Renault, Volkswagen, and Volvo have made themselves at home in the region. As a growing automotive hub in the country, Paraná accounts for around 10% of Brazil’s total production of cars, trucks, and pickup trucks. With more than 1,000 companies in the vicinity, the state also hosts an extensive network of industry suppliers to support the needs of first-tier automobile manufacturers.

Bahia

Located in northeastern Brazil, Bahia has the sixth-largest economy in the country. Largely dominated by agricultural and industrial sectors, it ranks as the fourth most populous Brazilian state and the fifth largest by land area. Its historical capital, Salvador, is a seaport lying at the southern tip of the peninsula that divides Todos os Santos Bay from the Atlantic Ocean. A distinguishing feature of Bahia’s economy is its highly skilled workforce. A noteworthy 71.5% of the state’s industrial workforce has attained an education level of high school or above, compared to the national average of 68.3%.

The aerospace and defence industry is a central and fast-growing sector in Bahia. Headquartered in São Paulo, the world-renowned Brazilian aerospace player, Embraer, maintains a strong foothold in Bahia, especially in the city of Gavião Peixoto. The facility specialises in assembling aircraft, including regional and military planes. Additionally, the maintenance, repair, and overhaul services sector is flourishing in Bahia. Its success is attracting a raft of aerospace companies to the region.

In January 2024, the construction of the Bahia Aerospace Technology Park was officially announced. Set to be based Salvador Air Force Base, the park is poised to become a

strategic hub for propelling the advancement of Brazil’s aerospace industry. It will focus on research and development in the aerospace realm, pushing the boundaries in aeronautics, space exploration, defence, and autonomous aerial mobility.

With the nation’s second-largest wind power capacity, Bahia makes a substantial contribution to Brazil’s renewable energy portfolio. The green energy powerhouse boasts 272 wind parks with an installed capacity of 7.42 GW. This equates to an investment of over BRL 34 billion and the creation of approximately 74,000 jobs. The local government anticipates the commissioning of 65 new wind farms by 2027, with an additional 182 projects scheduled for completion by 2029. This extensive portfolio is projected to contribute 10.26 GW of installed capacity and reel in about BRL 60 billion in investments.

Piauí

Piauí, located in Brazil’s Northeast region, offers a strategic blend of natural resources, agricultural prowess, and growing industry sectors, making it an attractive destination for investment. As the second-largest grain producer in the region, Piauí also leads in fresh honey exports and is recognized for its sizable herds of sheep, goats, and chickens. The state boasts Brazil’s only noble opal reserves and substantial nickel, marble, and iron deposits. Piauí’s renewable energy sector, particularly biodiesel, is expanding, while tourism thrives with unique ecological sites like the Piauí Delta and Serra da Capivara National Park, enhancing its appeal as both a commercial and cultural hub.

Piauí is a powerhouse of agricultural production in Brazil’s Northeast, with a rapidly expanding agribusiness sector known for its significant yields in soy, corn, and cotton. The region’s favorable climate, fertile soils, and vast tracts of arable land create ideal conditions for large-scale farming. In addition to grains, Piauí is Brazil’s top producer of fresh honey and has a thriving livestock sector, particularly in sheep, goats, and poultry. This solid agricultural foundation supports diverse investment opportunities in crop production, livestock management, food processing, and export-oriented agribusiness.

Known for its abundant natural resources, Piauí is emerging as a prime location for renewable energy projects in Brazil. The state has exceptional solar and wind energy potential, driving growth in solar farms and wind power projects across the region. The government’s commitment to expanding biodiesel production further underscores Piauí’s dedication to sustainable energy. For investors, Piauí offers a rare opportunity to tap into Brazil’s booming renewable energy market, supported by policies encouraging green infrastructure and the state’s strategic location for energy distribution.

Piauí boasts an impressive array of mineral resources, from marble and nickel to Brazil’s only deposits of noble opal. Its rich mineral reserves offer significant investment potential for mining operations targeting domestic and international markets. With growing global demand for precious and industrial minerals, Piauí’s mining sector stands ready for foreign investments focused on extraction, processing, and distribution. The mining industry here also benefits from a commitment to sustainable practices and innovation, ensuring long-term viability and profitability.

Piauí’s unique landscape and rich cultural heritage make it a burgeoning destination for eco-tourism and cultural tourism. Landmarks like Serra da Capivara National Park, a UNESCO World Heritage site, and the Piauí Delta attract both national and international tourists seeking rare natural and historical experiences. With opportunities to develop eco-lodges, guided tours, and adventure tourism, Piauí’s tourism sector has ample space for investors who want to capitalize on a market ready for infrastructure growth and services that showcase the region’s unparalleled ecological and cultural assets.

Piauí’s economic expansion, driven by growth in agriculture, mining, and tourism, demands robust infrastructure to connect its industries with national and global markets. Investments in transportation networks, warehousing facilities, and digital connectivity will support this demand, enabling Piauí to fully leverage its strategic location. The state’s focus on modernizing roads, railways, and port access presents lucrative opportunities for investors in construction, logistics, and digital infrastructure, all of which are vital to enhancing Piauí’s competitive edge as a business hub in Northeast Brazil.

Santa Catarina

Santa Catarina, a vibrant state in southern Brazil, is known for its strong economy, strategic location, and diverse industry sectors. Positioned between major urban centers like São Paulo and Porto Alegre, Santa Catarina offers excellent access to domestic and international markets through a robust infrastructure network, including well-developed highways, ports, and airports. The state excels in various industries, from technology and agribusiness to tourism and manufacturing, and boasts a highly skilled workforce, contributing to its reputation as one of Brazil’s most economically competitive regions. With a pro-business environment and various incentives for foreign investment, Santa Catarina is an ideal destination for companies looking to establish or expand operations in Latin America.

Known as one of Brazil’s tech hubs, Santa Catarina has a thriving ecosystem of technology companies, especially in software development, hardware, and IT services. The state’s cities like Florianópolis have gained reputations for innovation, supported by tech parks, accelerators, and a skilled workforce, making this sector a top choice for investment.

Santa Catarina is a leader in Brazil’s agribusiness sector, particularly in pork and poultry production, as well as dairy and grain cultivation. With a focus on high-quality exports, advanced agricultural practices, and value-added processing, agribusiness offers strong prospects for investment, particularly for companies in food processing and agricultural technology.

Known for its natural beauty, beaches, and cultural heritage, Santa Catarina is a popular destination for both domestic and international tourists. Investments in eco-tourism, hospitality, and related services are well-supported by the state’s efforts to promote sustainable tourism and develop its infrastructure.

The state is a manufacturing powerhouse, particularly in sectors like machinery, automotive components, textiles, and furniture. Santa Catarina’s industrial parks, skilled labor, and efficient supply chains create a favorable environment for manufacturing investments that serve both local and export markets.

With a focus on sustainability, Santa Catarina is expanding its renewable energy sector, particularly in wind and biomass energy. The state’s natural resources and government incentives support investments in green energy production, aligning with global trends toward sustainability.

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