Should I open a branch of my British company or should I open a separate business in Brazil?

Can anyone tell me which is more cost effective- opening a branch of an existing UK business or opening a small company in Brazil where our operations are actually based?

At present we operate here with a MEI so already have a CNPJ but if we don't open a branch of the UK company we will need to convert the MEI into a small company pretty soon.

Alison
McGowan