CHAMBER s
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Happy New Year!
We Thank our Trustees , Gold and Platinum Sponsors, our members and friends for All the Support Given Looking for a 2017 filled with Success Stories.
THA
ANK YOU FOR A GREAT YEAR! By now, at this time and age, you and me know how hard we must work to stay afloat. A Chamber is no different than any other business. It requires attention, dedication and above all a serious purpose. You can’t just work when you desire, and so do you in your own business. Thanks to you all small businesses and corporates who support our Chamber, members or not, if were present to one of our meetings or networking events, you were the extra force, the reason for us to continue. After a few years trying we crowned the year with our first Gala event and it was a huge success, thanks to so many who supported. We used the event to recognize some of our members, who lend their time, talent and treasure to CFBACC. The Crowne Plaza Orlando Universal-Antonio Bonfim, Jose Roberto Vasconcelos-Lancelot-Summerville, Edward Beshara-Beshara PA, and Maida Manes Jornal B&B. The event was hosted by the Crowne Plaza Orlando Universal, with great musical entertainment by The Opera Orlando and the best Jazz Trio in town. Photography by Sandro Coutinho. Favors by Angelica Hubner-Yumm Cakes, Pao Gostoso Bakery provided the cake and brigadeiros, Brazilian Expresso the Coffee.A night to remember. Thank you All. Laiz Rodrigues
CFBACC First Gala Event
December 2016
CFBACC NEWS
Definition com¡merce noun 1. the activity of buying and selling,
especially on a large scale. "the possible increase of commerce by a great railroad" synonyms: trade, trading, buying and selling, business, dealing, traffic; More 2. dated social dealings between people. "outside the normal commerce of civilized life" synonyms: relations, dealings, socializing, communication, association, contact, intercourse "human commerce"
CFBACC First Gala Event Recognizing Supporters Lis Sommerville-Crowne Plaza Orlando Universal, Jose Roberto Vasconcelos-Summerville,Maida Manes-Jornal B&B, Edward Beshara-Beshara PA
December 2016
• Mergers & Acquisitions • Contracs
Taxation
• Sports & Entertainmen
• Government & Regulat • Litigation & Corporate
A Member of:
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tory Restructuring
• Asset Protection & Family Succession
CFBACC First Gala Event
City Commissioner District 3 Samuel B. Ings and his wife June Ings
Laiz Rodrigues, Amy Litter and her Grandson Gabriel Martins
Eraldo Manes-Jornal B&B, Laine Furtado-Linha Ab Marco Alevato-FaceBrasil Magazine.
Jim Clark, Amy Litter, Gabriel Martin
berta Magazine,
ns and Christine Annes
Celestino De Cicco-Broker CFRealty, his wife Lucia De Cicco and CFBACC President Laiz Rodrigues
Jason and Rachel Costa-Bernard and Elaine Vasconcelos-Lancelot Inc.
Top left, Laine Furtado,MonicaRibeiro BBG President, Laiz Rodrigues, in the centerAndrea Almeida and Beshara PA guests, to the right, Franco Cavalieri, Edsel Oliveira, PedroBotelho. ABOVE, David and Lis Sommerville and the Crowne Plaza group, with Hiram brown, Gloria Brown, Anthony and Dawn Lazzara. In the middle, Gold Meat Group, Mariane Siena, Luis Silva Andrea Mendes, Fernando Momente, Maria Luisa Lomboy, Beto Melo. To the right, Luciana Eliseu, Eleonora Paschoal e Lis Sommerville. Below, Luis Martinez, Oscar Ortiz and Attorney Euri Cerrud.
CFBACC First Gala Event December 2016
The Central Florida Brazilian-American Chamber of Commerce, the President and its Board of Directors, request the honor of your presence at the 2017 Board Installation Ceremony in the Rotunda Hall at the Orlando City Hall. Date and Time: January 24, 2017 Address: 400 South Orange Aven Orlando-Florida, 32801 Please R.S.V.P. to marketing@cfb
7 at 5:00 p.m. nue,
fbacc.com
ew Year’s Eve
BoiBrazil Invites you to: A Great New Years Eve Celebration
An Authentic Brazilian Steakhouse offering All You Can Eat Salad Bar, Hot Dishes, and a Premium Meat Selection. The Best Experience, with two Locations to serve you Winter Park and Orlando 5668 International Drive, Orlando Orlandi FL. 32819 Phone:(407) 354-0260 115 E Lyman Ave, Winter Park, FL 32789 Phone: (407) 636-7366 Price Per Guest $40 taxes and Gratuit not included. Dessert and Beverages A La Carte Champaign can be added to your package for an additional fee
VIP Aesthetic Institute 12139 S. Apopka Vineland Road Orlando-FL 32836
Brazilians in The USA The Importance of Immigrational Planning
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e have experienced in recent years a movement of large flow of Brazilian families migrating to live, invest and work in the US, especially in Florida. Unlike previous movements, these families, mostly entrepreneurs are families who own businesses, real estate and investments in Brazil and now start to focus on the US as a new place for investments. However, what we have found about these families is the widespread lack oof knowledge about the fiscal consequences resulting from the decision of, immigrate and / or live in the US. Most of these families are unaware that the stay or change of residence from Brazil to the US generates significant impacts that can not be disregarded. Take as a starting point of our analysis re-
garding those Brazilian families who have not yet made the decision to immigrate to the US, but only come to spend a season, often having already acquired a residence for summer, especially in Florida. In this case, armed with American tourists visas ( "B2" class), spend several weeks and even months of the year on American soil, imagining they are immune to the tax effects in the United States. However, for tax purposes, one of the fundamental principles of American Tax Laws is the "substantial presence test", ie the imposition of US tax residency for those who remain in US territory for more than 183 days per year over a period of 3 years. In such a reality, any foreign citizen ( "non-resident alien") who remains in US territory for a period of time compulsorily, acquires the American tax residence, being forced to pay taxes to "Uncle Sam".
“Pre-Immigration Planning� Advogado Sandro P. dos Santos PSQA Advogados
The "substantial presence test" is the day count in American territory as follows: (a) current year: we consider the whole of the day on American soil; (B) the previous year: to include 1/3 days on American soil; and (c) the year before the previous one: count is 1/6 days on American soil. Thus, if the sum of the days in three years is not less than 183 days, the foreign citizen is obliged to the payment of taxes in the United States as a US resident. Therefore, failing to acknowledge that important fact, can have serious taxes consequences, as both the US and Brazil, has the basic principle of their income taxation system, the principle of universality ( "worldwide system"), ie, the resident must pay taxes on their worldwide income. Regarding the other visa temporary stay (B1 /
business, L1 / executive, E2 / investor treated, etc.) and permanent (EB5 / investor, EB1 / executive or extraordinary ability, etc.), the tax effects are quite important because in all these cases the citizen will be considered US tax resident, the obligation of the US tax collection. The only exception is the student visa (F1), which is not subject to "substantial presence test" and does not result in the imposition of US tax residence. Thus, it is important fiscal analysis when the stay or immigration to the US. As we have seen, based on the "worldwide tax system" system, in the event of adoption or imposition of US tax residence, all proceeds, fruits and values in Brazil, such as dividends, interest, rents and others, should be taxed in the US .
Regarding the Brazilian reality, there are also very serious tax consequences. For Brazilian tax law, the individual or legal entity resident or domiciled in Brazil are also required to obbey the "worldwide tax system", ie any income received in Brazil or abroad shall be taxed by the income tax in Brazil.
of real profit. Therefore, it was verified that a detailed analysis in the reality of each family interested in temporary or permanent residency in the US is critical. Through the "pre-immigration planning alternatives and viable legal structures are studied to avoid that dividend income, rents, financial income and others are If the individual resident in Brazil opts for the not subjected to double taxation. American tax residence (through visa EB5, E2, L1, EB1, etc.), under Brazilian law, must So again it is important to note that the change present the Final Departure Statement of the from Brazil to the US has important and relecountry ( "DSDP") from the release date until vant taxes consequences that need to be anathe last day of February of the following cal- lyzed and studied with the advice of qualified endar year. professionals in Brazil and the US. Otherwise, the individual will be subject to double taxation by the Brazilian tax authori- (Sandro W. Pereira dos Santos, of the Braties and the US tax authorities, as is the Brazil- zil and specializes in Wealth Management ( ian tax resident status and at the same time, "Wealth Management") and International the US fiscal resident. Taxation. Member of the International Fiscal Association, International Bar Association For legal investors, entrepreneurs overseas, IBA and Brazilian Academy of Financial Law. especially those involved in obtaining visas for Socio-Senior PSQA . LAWYERS (www.psqa. executives in the US (L1 visas), it is essential com.br), with offices in SĂŁo Paulo-SP, Curito emphasize that the creation of a subsidiary tiba, PR and Orlando / Maitland-US E-mail: company in forced outside the company to sandro@psqa.com.br) payment of income tax in Brazil by the system Written By Attorney Sandro P. dos Santos
Black Fire Bull Brazilian Steakhouse 8594 Palm Parkway Lake Buena Vista, FL 32836 P: 4074777771
“Pre-Immigration Planning” Temos vivido nos últimos anos um movimento de grande fluxo de famílias brasileiras migrando para viverem, investirem e trabalharem nos EUA, especialmente no Estado da Flórida. Diferentemente de movimentos anteriores, essas famílias, em sua maioria, são famílias empresárias, que possuem empresas, imóveis e investimentos no Brasil e agora passam a focar os EUA como novo lugar para investimentos.
maneça em território americano por certo período de tempo adquire compulsoriamente a residência fiscal americana, sendo obrigado ao pagamento de impostos ao “Tio Sam”. O “substancial presence test” consiste na contagem de dias em território americano nos seguintes termos: (a) ano em curso: considera-se a integralidade dos dias em território americano; (b) ano anterior: contam-se 1/3 dos dias em território americano; e, (c) ano anterior ao anterior: contam-se 1/6 dos dias em território americano. Com isso, se a soma dos dias nos 3 anos for igual ou superior a 183 dias, o cidadão estrangeiro é obrigado ao recolhimento de tributos nos EUA como residente americano.
Entretanto, temos verificado por parte dessas famílias um grande desconhecimento sobre as consequências fiscais dessa decisão de permanecerem, imigrarem e/ou viverem nos EUA. A maioria dessas famílias desconhece que a permanência ou a mudança da residência do Brasil para os EUA gera impactos tributários relevantes e que não podem ser desconsider- Veja-se, portanto, que o desconhecimenados. to pode trazer sérias consequências fiscais, à medida que, tanto os EUA, como o Brasil, Tomemos como ponto inicial da nossa análise têm como princípio basilar do seu sistema de aquelas famílias brasileiras que ainda não tributação da renda, o princípio da universaltomaram a decisão de imigrar para os EUA, idade (“worldwide system”), ou seja, o resimas tão somente vêm para passarem tem- dente deve pagar impostos sobre a sua renda porada, muitas vezes tendo já adquirido uma mundial. residência para veraneio, especialmente na Flórida. Em relação aos demais vistos de permanência temporária (B1/negócios, L1/executivo, Nesse caso, munidos de vistos americanos de E2/investidor com tratado, etc) e permanente turistas (classe “B2”), passam várias semanas (EB5/investidor, EB1/executivo ou habilidade e até meses por ano em território america- extraordinária, etc), os efeitos fiscais são basno, imaginando estarem imunes aos efeitos tante importantes, pois em todos esses casos fiscais nos EUA. Entretanto, para fins de trib- o cidadão será considerado residente fiscal utação, um dos princípios fundamentais da americano, com a obrigação do recolhimento legislação fiscal americana consiste no “sub- de impostos nos EUA. stancial presence test”, ou seja, a imposição da residência fiscal americana para aqueles A única exceção é o visto de estudante (F1), que permanecem em território americano que não está sujeito ao “substancial presence por mais de 183 dias por ano, num período test” e não tem como consequência a imde 3 anos. Em tal realidade, qualquer cidadão posição da residência fiscal americana. estrangeiro (“non residente alien”) que per-
Brasileiros Nos EUA – A Importância Do Planejamento Imigratório Escrito Pelo Advogado Sandro P. dos Santos
Com isso, é importante a análise fiscal quando da permanência ou imigração para os EUA. Como vimos, baseado no sistema do “worldwide tax system”, em caso de adoção ou imposição da residência fiscal americana, todos os rendimentos, frutos e valores obtidos no Brasil, tais como dividendos, juros, alugueres e outros, deverão ser tributados nos EUA.
presa ao recolhimento do imposto de renda no Brasil pelo sistema do lucro real. Verificamos, portanto, que é fundamental uma análise pormenorizada da realidade de cada família interessada na permanência temporária ou definitiva nos EUA. Através do “pre-immigration planning”, ou “planejamento pré-imigratório, são estudadas alternativas e estruturas legais viáveis para que as rendas de dividendos, Em relação à realidade brasileira também ex- alugueres, rendimentos financeiros e outros istem consequências fiscais bastante sérias. não sejam sujeitos à bitributação. Para a legislação fiscal brasileira, a pessoa física ou jurídica residente ou domiciliada no Brasil Sendo assim, novamente é importante destatambém está obrigada ao “worldwide tax sys- car que a mudança do Brasil para os EUA tem tem”, ou seja, qualquer renda percebida no consequências fiscais importantes e relevantes Brasil ou no exterior deverá ser tributada pelo que precisam ser analisadas e estudadas com a Imposto de Renda no Brasil. assessoria de profissionais habilitados tanto no Brasil como nos EUA. Caso a pessoa física residente no Brasil opte pela residência fiscal americana (através dos (Sandro W. Pereira vistos EB5, E2, L1, EB1, etc), nos termos da lei dos Santos, advogado brasileira, deve apresentar a Declaração de Saíno Brasil e especialda Definitiva do País (“DSDP”) a partir da data izado em Gestão de de saída até o último dia do mês de fevereiro do Patrimônio (“Wealth ano-calendário subsequente. Caso contrário, a Management”) e Tribpessoa física estará sujeita à bitributação pelo utação Internacional. fisco brasileiro e pelo fisco americano, visto que Membro da Internaestá na situação de residente fiscal brasileiro e, tional Fiscal Associaao mesmo tempo, residente fiscal americano. tion, International Bar Association-IBA e AcPara as pessoas jurídicas investidores no exte- ademia Brasileira de Direito Financeiro. Sóciorior, principalmente aquelas envolvidas na ob- Sênior de PSQA ADVOGADOS (www.psqa.com. tenção de vistos de executivos no EUA (visto br), com escritórios em São Paulo-SP, CuritiL1), é fundamental destacar que a criação de ba-PR e Orlando/Maitland-EUA. empresa subsidiária no exterior obrigada a em- E-mail: sandro@psqa.com.br)
8552 PALM PARKWAY ORLANDO, FL. 32836 Phones 407-730-9911 407-535-1313 Fax 407-778-1479
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Winter In Wonderland Every year , we are graced not only with the magic of the Holidays but also with the beautiful Cinderella Castle coming to life in millions of lights. The most beautiful theme park, Magic Kingdom measures no limits to express their dedication to make the magic happen and gift millions of visitors all over the world. if you didn’t have a chance to see it, and enjoy all the splendor. Here is a little of it for you, to never stop believing in magic.
Winter In Wonderland
Winter In Wonderland
Effective December 1, 2016 - Florida Worker’s Compensation Rate Increase! The Florida Office of Insurance Regulation (OIR) has given contingent approval for an overall statewide workers’ compensation rate increase of 14.5 percent to take effect Dec. 1, 2016. Who is required to have worker’s compensation in the state of Florida? Construction Industry - One (1) or more employees, including the owner of the business who are corporate officers or Limited Liability Company (LLC) members. Non-Construction Industry - Four (4) or more employees, including business owners who are corporate officers or Limited Liability Company (LLC) members. Contractors are required to make certain that all sub-contractors have the required Workers’ Compensation Insurance before they begin work on a project. If the subcontractor does not have Workers’ Compensation Insurance for its employees, those workers become the employees of the contractor. If an injury occurs, the contractor is responsible for paying the benefits for the work related injury, illness or fatality.
Paychex can help your clients with worker’s compensation and cash flow! Implementing a “pay as you go” payment option – paying premium based on actual wages each pay period, versus an estimated annual total Premiums are sent directly to the insurance carrier, streamlining year end audit You receive detailed reports to track wages by classification code Access to our 24 hour, toll-free hotline for easy claim reporting with our insurance carriers For new policies: Down payment as low as $75.00-$200.00 for qualifying class codes For more information, please contact: Raul Santiago
954-802-0617
rsantiago@paychex.com
City Hall all Decorated for the Holidays The City of Orlando has decorated the Rotunda Room in the most creative way. Celebrating the holidays this year was a priority, to live the spirit after such a difficult year. With wishes of Joy and Peace, the City of Orlando decked the Hall in a beautiful all white ensemble. Lake Eola was also decorated and the star at Orange Ave shines everyday. There is so much about Orlando, so much more. We just have to see In adition to the decorations the City also had an internal contest, where every department decorated and we also share photos from the winners department.
City Hall All Decorated For The Holidays
www.b2portals.com 14 East Washington Street-Second Floor Orlando-FL, 32801-Downtown Orlando Phone # (786) 241-7619 contact@b2portals.com
www.idrivenascar.com
5228 Vanguard St, Orlando, FL 32819 Phone:(407) 581-9644
Edward C. Beshara
Salvatore J. Picataggio, Jr.
Andrea Almeida
Managing Partner P: (407) 571-6878 E: ebeshara@besharapa.com
Associate Attorney P: (407) 571-6878 (6816) E: sal@besharapa.com
Brazilian Liaison and Paralegal P: (407) 571-6878 E: andrea@besharapa.com
From the first contact right to when the transaction was completed I received a professional and efficient service throughout. moneycorp’s competitive exchange rates saved me money on my transfers and their transparency left me in no doubt that my money was in safe hands. I have no hesitation in recommending moneycorp”.
Felipe M July 2015
Save money on your international transfers to and from Brazil moneycorp, in partnership with Novo Mundo Corretora de Câmbio - forex experts – offers competitive exchange rates and expert guidance on all your international payment requirements.
Benefits of using moneycorp: Expert market guidance over the phone with your dedicated personal account manager based in Brazil and Florida. Bank-beating exchange rates. Free transfer fees on $10,000 and over. Free moneycorp payments account.
Please contact us by phone: + 1 407 352 5890 or e-mail: brasil@moneycorp.com and find out how we can help you save today.
Transferring Funds From Brazil To The United States How To Bring Your Money To Invest In Florida
Source:moneycorp
Juliana Scolari, is one of moneycorp specialists in foreign exchange and Head of Latin America Market. MONEYCORP is originally from England and leader in the market for over 30 years.
3. What if the source of the funds has been originated in the current fiscal year?
In order to have permission to transfer funds out of the country the financial institution will need to identify client’s source of funds and the reason for the transfer.
4. There are many comments on the bureaucracy of most Brazilian Banks to approve a foreign exchange transaction. Is this bureaucracy really necessary?
We just need to document the source. All that Central Bank of Brazil (BaCen) wants to make sure of is that the source of your funds is correctly documented and that taxes were already paid on it (or soon will be). For example, if you sold a property in Brazil this year and therefore the sale it is not yet showing on your tax returns, all you have to do is to document the sale of the property and show it was declared as your asset. The amount of the sale is now your 'capacity' and if you want to have it in 1. How easy is to transfer money from US dollars, you can transfer the funds out without a problem. brazil to the us?
2. What about taxation?
No, it is not. A practical process should require an application and identification of the client, When purchasing Real Estate or when transfer- to document the source of funds and the rearing funds to a client’s account overseas, there son for the transaction. is nothing beyond the IOF (0.38%) already charged when a deal is booked. Essentially, the The documents are analyzed and, if all correct, taxes have already been paid. Each individual the customer is then authorized to book the in Brazil has their most recent tax returns ana- foreign exchange transaction. Once the deal lyzed before the transfer. In other words, what has been booked, the wire transfer is made in each individual can take out of the country is Reais by the client at the licensed institution’s liquid money, already declared. bank account and within two business days, funds are wired into the account beneficiary instructed by the client.
5. What are the costs of this transaction? than when the dollar is going up like a rocket. 8. What is your suggestion for investors to There may be many associated costs, depend- protect themselves from currency fluctuing on the financial institution, including: trans- ations? fer fees, bank charges, IOF, cost of exchange, cost of commissions, among others. We always advise all clients to compare not only the currency exchange rate but also the total amount that is costing them in Reais. Most of Brazil's banks charge high fees that are charged directly from client’s account.
Ask the company to monitor the market for you. The longer you have until the crucial date of the transfer, the more your chances are to benefit of (or protect from) currency fluctuations.
9. Are there any other advantages in transferring funds correctly from Brazil?
6. What are the client’s advantages to use an expert company like moneycorp? I could name many of them, but I’ll focus on the
main ones: security and repatriation. If the capital of Brazil came out correctly, you can repatriate these funds. It is important to understand that money that does not go out registered with the Central Bank, does not return by the Central Bank.
Working with an expert has millions of advantages, but the main one is the access to the specialist him/herself. The obligation of the specialist is to understand the nature of the client’s transaction and, based on that, to know what options are possible in a simple, efficient, legal and economic way. 10. In addition to the competitive exchange
7.How can you be sure you’ve been offered a competitive exchange rate? Firstly, some key information: the exchange rate that a institution will offer, regardless of whether that institution is a bank or the company I work for, moneycorp, will have a margin included (known as the ‘spread’. Besides the constant currency fluctuations, each institution will add a margin of their choice, by following market standards or by the company’s policy. The spread is not fixed. There are many variables that will be taken into consideration at the time of booking a foreign exchange deal, among them, the amount to be transferred and market data. Booking a deal when the currency fluctuates in your favor (Real appreciating) will give you a better chance to get a better rate
rate and access to specialists, which makes the operation more efficient? Are there any other benefits that Moneycorp offers? Yes. Moneycorp is the only company in the industry that offers an international payment account for each client. The client can close a foreign exchange contract and through its Moneycorp account, he/she can make all their international payments. For example, a customer is buying a home in Florida and will have to send funds to the construction company, to furnish and decorate the new home and to the immigration attorney. By using their Moneycorp account, the customer can distribute all of these payments at no extra charge. He/she can also keep their funds in their Moneycorp account until a decision is made.
and realized right away that there was a large market for Brazilian investors and a worldwide lack of specialists in the question. With over 10 years of financial experience, she embraced the opportunity and raised the company's market by 400% since her arrival.
“
The transfer of your funds is an easy process, it should not have any hidden taxation attached to it and it doesn't hurt your tax returns.
She is often invited to give lectures on the subject and has participated in numerous conferences, including in Brasilia.
With a constant positive feedback from clients and partners, we asked the young business woman what is the secret of her success: "Never let an opportunity to answer a question go by, even if you have to research the Understanding how the process works is the answer. first step. From there, all you have to do is Learn from your work challenges and become choose your provider. Happy Investing! a specialist. And most importantly, provide a service that exceeds your own expectations. More about Juliana Scolari - Moneycorp: Juliana joined the team Moneycorp in 2010 Always! Regardless of your industry."
5472 International Dr. Orlando, FL Ph # (407) 447-8946
www.paogostoso.net
To CFBACC Members and Friends From Monday Jun20 until Dec31. The promo code is “CFBCOC16� that offers 10,000 points bonus when the account enrolls and flies within 60 days and should be included in a note. This code should be inserted at time of each enrollment.
www.booking.com
www.jornalbb.com/
4847 Lake Milly Drive - Orlando, Florida 32839 Phone #: 407.855.9541 - 407.353.2799 e-mail: info@jornalbb.com