About Brazil and Property Brazil

- One of the worlds' four largest developing economies
- Predicted to be one of the worlds' economic leaders
- Actively encouraging foreign investment
- Realistic Guarantee of long term investment
- Extremely affordable property prices
- 48% increase in tourism since 2002 (134% in Natal)
- Politically Stable country
- Low cost of living

  Brazil Country Info:

  
REGISTER FOR YOUR FREE BRAZIL BUYERS GUIDE

  Population: 188,078,227
  Capital: Brasilia
  Languages: Portuguese
  Area (km2): 8,511,965
  Currency: Real (R$)
  Exchange rate: £1=1.45€
  Dialling code: +55
  Emergency services: 911
  Embassy in the UK: www.brazil.org.uk

GETTING TO BRAZIL:
Flight time is approximately 9 hours from the UK to Natal International Airport, “Augusto Severo”and there are weekly non-stop flights from London Gatwick.

HEALTH FACILITIES IN BRAZIL:
Comprehensive medical and travel insurance is recommended before travelling to Brazil. Many Brazilians prefer to take out a private health insurance plan and there are plenty available, including BUPA.

VISA / RESIDENCY ISSUES IN BRAZIL:
Foreigners are allowed a three month visas or a maximum stay of 180 days per year. If you wish to apply for a permanent visa you must meet certain criteria and this is done through your nearest Embassy.

FEES AND TAXES IN BRAZIL:
•Buyers should set aside around 8% of the purchase price to cover costs.
•Capital gains tax on the sale of a property by individuals will be subject to Brazilian tax at a rate of 15%. The tax is determined by the difference between the sales price and the acquisition cost
•Transfer tax varies between 2% and 6% of the real value or the appraised value of the real estate whichever is higher. In Rio Grande do Norte and Natal the rate is 3%.
•The circulation of merchandise is subject to tax, as are transportation and communication services (ICMS). This is similar to VAT in other countries and is set at a rate of 18% .
•Brazil has no inheritance or wealth taxes. However, some states may impose a death transfer and a donation/gift tax.

BUYING PROCESS IN BRAZIL:
•Once a property has been found, a preliminary reservation agreement between the purchaser and seller is signed, and a reservation deposit of between 3,000€ and 6,000€ paid.
•Once the property has been reserved they will usually have between 15 to 30 days to gather information on the property regarding the land register and legal issues to verify whether the title deeds for the property are satisfactory, and whether the person selling the property is authorised to transfer their ownership. They will also carry out checks to guarantee that the property is free from any pending charges, mortgages or debts.
•Once the checks on the property have been made, you can sign the Purchase Contract, known as “contrato de compra e venda”. The “contrato de compra e venda” sets out all the details of the agreement, the property, purchase price, payment terms and completion date. Once both parties have signed the “contrato de compra e venda” and the deposit has been paid, the contract becomes a legally binding document. The amount payable as deposit at this stage and the structure of payments until completion varies, depending on the developer.
•The property sale process is finalised before a Notary (OfÍcio de Notas o Cartorio), with the buyer and seller signing the Deed of Sale. The signature of the Tabeliâo (the Oficio de Notas’Official). The Notary’s duty consists in identifying the buyer and the seller, and ensuring that all legal requirements have been met, and that the amount due to be paid has been settled.