Actually Debzor, since your mention of Trans-fast a few days ago I have been in contact with them and it seems I was not correctly advised when I first contacted them.
They have two rates, yesterday for example was:
Via Central Bank 2.44
Alternative route 2.63 a difference of around R$9,000 in this instance.
My original question is probably redundant now because it turns out it works like thi for the good rate.
Money sent to Trans-fast. Transfast send to Alpha transfer in the UK
Alpha transfer send to a company in Brazil who then send it to my Bank account.
This means the money would show as a transfer from within Brazil. They said this was their most used option, but I guess it wouldn't then be possible to register it through the Central Bank which would then cause problems if I want to send money back to the UK??
I contacted Moneycorp who said yesterday their rate was 2.55 through the Central Bank, so if they can give that rate, how is it Trans-fast can't? They told me the fees charged to them made it impossible.
I can confirm all that is been said here, but please bear in mind my considerations bellow.
My friend owns a money transfer in London and yes there is 2 ways to send money to brazil.
1)
Via Central Banking: Is a registered transaction and always will be used in case you need to repatriate you monies sent to Brazil.
1.1)
Considerations: This is by far the safest way to send money to Brazil, allow you to repatriate the monies sent and will be always used as reference to register the property you are buying.
1.2)
Considerations 2: Lets say for example, you bought a property worth 100,000.00 (Brazilian Reals) After 2 years you sold the property for 150,000.00. So you have a profit of 50,000.00 and now you want to repatriate all the money. As you did through central banking, income tax will be due only when you repatriate the monies sent to Brazil what will be in average around 37% of the capital gain and that will be the only way to repatriate your monies.
2)
Via Money Transfers: As our friend suggests there is this second way through money transfers it will use parallel rate and of course as you see the difference between the rates are huge.
2.1)
Considerations: Lets say for example in the same situation above you bought a property worth 100,000.00 (Brazilian Reals). As you send money through the second way you'll be able to register the purchase of the property for less than it is worth (very common situation in Brazil to avoid taxation for the whole amount). Stamp duty (Registro) in Brazil will be around 4-5% of the property value.
2.2)
Considerations 2: If you choose this way to send money to Brazil, it is not illegal, although the only way to repatriate the monies is using the same way you used to send it originally what requires a very well trusted agent as it cannot be done via banking system, it is literally handing over the money in the hands of someone in brazil to receive it here.
