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By Nelson Belen, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Major life changes, such as marriage, a baby, a new job, can happen at any place, at any time, sometimes unexpectedly. And, if you’re in Brazil, surrounded by a volatile political environment and one of the bleakest economies in recent times, preparing for the unexpected takes on an even greater urgency.

Amit Ramnani of Ipanema Wealth, helps expats prepare for the unexpected, photo curtesy of Ipanema Wealth.
Amit recommends that expatriates review their financial planning targets, photo courtesy of Ipanema Wealth.

The financial consultancy group, Ipanema Wealth, helps expats who are looking to develop a financial plan for lifestyle changes and other considerations in transitioning to Brazil.

Amit Ramnani of Ipanema Wealth explains some of the challenges expats face in a country, once in the midst of an economic boom, which now finds itself in a deep recession, “A few months ago, you had a relatively secure expat assignment in an oil or mining company which provided a generous package including your accommodation in a luxury apartment, school fees for your kids at an international school and family health plans with access to top quality private medical care.”

Now, Ramnani says, “You may be facing less job security or redundancy, which will have a huge impact on you and your family’s cash flow and emotional well-being. To add to the stress, your work visa may be expiring soon and you may be forced to relocate or repatriate to your home country.”

To ensure clients are prepared for these life-changing events, Ramnani explains, “Several decisions have to be made at once, we offer transition advice on financial, tax and health cover planning to remove some of the headache for our clients.”

This includes advising on which assets to liquidate to cover periods without income, finding the best available private health plans for a family, transferring savings to another country at a competitive rate and deciding on the right phasing given the volatility of the Real.

Ipanema wealth also helps expat clients structure their personal finances so they benefit from favorable tax treatment in both their domicile and residence countries. Ramnani continues, “In our reviews with clients, we develop a solid ‘Plan B’ strategy to ensure a smoother transition.”

Disclaimer: Ipanema Wealth provides an advisory service and does not engage in capital markets or the selection of financial instruments. For more information, please submit a specific enquiry via their website here.

* This is a Sponsored article by Ipanema Wealth.

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