Expert: Edison - 4/25/2009

Question
Hello,

I'm an american living in TX and will be marriaging a Brazilian woman soon. We are planning to move to SP by end of 2009/early 2010. I hold 3 degrees and I'm fluent in English, Spanish (write, read, speak) and read/understand Portuguese, though I can't speak well yet. I have a few questions:

1) Being a experienced finance professional, what are my chances of finding a USA Multinational Co. (all any Co. for that matter) willing to help me with my working visa, assuming I'm already in SP (relocated myself).

2) How difficult it is to get financing for a used car (or new)? What would it take for me to get financing?

3) Do I have to pay taxes to the Brazilian government if I transfer money from my USA based bank account? Any thresholds, limitations or barriers?

4) Based on what I have read, the cost of living (after currency conversions) is about the same as in the USA, that is, $1,200 average for a 2-3 bedroom decent apartment or ~$250K average for a typical mid-class home purchase. Would you say this is about right or am I way off with my assessment?

5) Would you think foreign professionals have to struggle the first few years until finally settling down in SP? In terms of finding a job, buying a home/car.

Your help is very much appreciated.

Thanks!
Edwin

Answer
Hello Edwin,

Answers:

1) I think so, but start contacting them from US now (there are a lot of Texas based companies in SP).

2) You would need a job and credit history to get a car loan. Also, the interest rates are very high in Brazil. So, the best option is to save some money and buy a used car with cash.

3) There are not government taxes, only bank transfer and currency fees (around 1% of the amount transfer). You cannot deposit US dollars in a bank in Brazil. Don’t bring bank checks to Brazil (they months to be credit into your account and the fees are very high). Do wire transfers.

4) It depends on the location and quality of the apartment. I recommend renting first, and then take your time to shop around for the best location and apartment.

5) Since your wife is Brazilian, she can help you a lot. The hardest things to overcome are the bureaucracy, traffic craziness and daily violence/crimes (need to live to the safest area that you can afford). The people are great and you can have a great time if you are not arrogant (avoid comparing everything to America - try to live as a Brazilian).  

Write me again if you have more questions.

Have fun!

Edison