I was just checking the interest rates in various countries. It seems that Brazil’s interest rate is the highest at 10.75%. This would mean that their fixed deposits too would be at least giving 10.75% (ideally around 12%). So, why not open an FD in Brazil? 🙂
My question is – Can Indians open a fixed deposit in a bank in Brazil? Is this legal/allowed? What are the tax obligations? Anyone have any details?
Thanks,
Ram