he 2016 Rio Summer Olympic and Paralympic Games are right around the corner! As the August event draws closer, Brazil looks to capitalise politically and economically as all eyes turn to arguably the biggest stage in international sport.
Not only will the country make all efforts to welcome the countless numbers of athletes and tourists attending the Games, but recent subtle economic and immigration changes point towards an overall ‘rebranding’ of Brazil as a regional hub of business and tourism. These measures – combined with similar objectives brought forth before the 2014 FIFA World Cup – come at a crucial time for Brazil’s troubled economy and politics.
For years, Brazil has struggled with the international perception that its complex corporate and immigration regulations are unwelcoming to foreign investors. From miscommunication between federal and local immigration authorities, to frequently changing immigration policies with inconsistent implementation, to stringent document requirements for foreign applicants and sponsoring companies alike, the country’s immigration system is fraught with challenges.
Although Brazil is often listed in the top emerging world economies, these unique difficulties often result in slow and costly immigration procedures for multinational companies trying to move top talent into the country.