Outsourcing back office services in Brazil means streamlining your operations and freeing you up to focus on more profit-related aspects of your business.
Back office services entail a wide range of functions within your company, including legal and accounting, recruitment, and various aspects of administration.
If you are looking to register a company in Brazil, or are already operating in the market, outsourcing some of your back office functions will allow you to limit your core team and hand over responsibility for dealing with complex or time-consuming elements of your business.
Should you be interested in outsourcing a range of back office services in Brazil, finding a provider that offers a broad range of support options could be the best choice, because that way you can have all of your needs taken care of under one service agreement.
Below, what makes the Brazilian market a strong investment opportunity is considered, while 4 back office services in Brazil that are ideal for outsourcing are highlighted.
Contact us today to find out more how we can support you with your back office services in Brazil.
Brazil a prime investment destination
Known as “The Giant of South America” due to its extensive size, in 2020 Brazil registered a gross domestic product (GDP) of $1.44 trillion (all figures in USD).
While that represented a notable decline compared to the previous year, due to the economic turmoil caused by the COVID-19 pandemic, it still makes Brazil easily the largest economy in Latin America.
Although gross national income (GNI) — a key indicator of prosperity — similarly declined, it was still registered at $7,850 per capita, placing the country as an upper-middle income nation by standards established by the World Bank.
With more than 210 million people, Brazil is the sixth-largest country in the world by population, counting on a ready supply of workers for businesses based in the country.
That includes a large middle class, with the professional services industry concentrated in larger cities such as Sao Paulo and Rio de Janeiro, where the majority of providers of back office services in Brazil will be based..
If you are not proficient in Portuguese, you will need to seek out a provider of back office services in Brazil that is able to communicate effectively in English or any other language you speak, given the country falls in the mid-range of English proficiency in the region.
Every country in South America other than Chile or Ecuador shares a border with Brazil, which is one of four current members of the Southern Common Market (Mercosur) — a 30-year-old economic integration initiative that also includes Argentina, Paraguay, and Uruguay, and to which Bolivia’s formal accession is pending.
Brazil is known as a key producer of agricultural goods and primary materials, including coffee, soybeans, meat, and timber. It also has significant oil reserves.
The country has become an increasingly popular destination for investment, with foreign direct investment (FDI) in 2020 standing at $69.2 billion — the fourth-highest inflow registered globally.
4 back office services in Brazil to outsource
1. Recruitment and hiring:
Securing the best staff can be more of a challenge in new market, however when you work with a provider of back office services in Brazil who offers recruitment and hiring services, you gain access to their established network and knowledge of the local job market. In general a back office services provider that deals with recruitment will offer professional employer organization (PEO) services in Brazil, meaning that they will be able to hire staff on your behalf via their local entity, so that you can avoid going through company formation.
2. Company formation:
Anyone entering the market without using a PEO will need to go though company formation in Brazil, or any other kind of entity formation. Going through the company formation process with the assistance of a provider of back office services in Brazil will significantly reduce the time it takes to complete the process, given their familiarity with all of the common pitfalls in the administrative process, as well as guaranteeing compliance throughout the process, eliminating the risk of legal issues in the future.
3. Legal services:
Seeking out high quality corporate legal counsel in Brazil represents another key back office service that you can outsource, with your provider helping you to deal with the many idiosyncrasies of the Brazilian legal system, as well as offering important advice during the setup and ongoing operations of your company. That can include on the likes of what type of entity to establish and which local partners to work with, and ongoing advice on unfolding legislative changes that affect your business.
4. Accounting and taxation:
Handing over responsibility for accounting and taxation to a third-party provider eliminates a major administrative burden and compliance issue — given that your provider of back-office services in Brazil will guarantee compliance as part of the services agreement. With Brazil’s taxation system known for its complexity and subject to regular change, outsourcing accounting and taxation can help significantly streamline core in-house operations.
Biz Latin Hub can provide back office services in Brazil
At Biz Latin Hub, our multilingual team of corporate support specialists is available to provide you with a tailored package of integrated back office services in Brazil to suit your business needs.
Our portfolio of services includes accounting & taxation, company formation, hiring & PEO, legal services, and visa processing, among others. We also have teams in place in 15 other markets around Latin America and the Caribbean and we specialized in multi-jurisdiction market entry.
Contact us today to find out more about how we can support you.
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