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Brazil » The Purchase Process

Brazil Foreigners can purchase property or land in Brazil on a freehold basis. For property ownership foreign nationals enjoy the same legal rights as the Brazilians.

Buying property in Brazil is simple. Property costs in Brazil such as taxes and maintenance costs are also quite low making investment in property market more attractive. In order to purchase a property in Brazil you need to hire a competent lawyer who can carry out the legal transactions for you. To avoid complications it is important for the lawyer to check if the property has a clear title. Once all the relevant searches have been made a local bank account must be opened for transactions that have to be made for acquiring Brazilian property. When the offer is accepted then you pay 10% of the property price. This is not a fixed amount it can vary from 5 to 20%. Registration of property in Brazil is done by private notary publics. The notary prepares all the paperwork and makes sure all the property taxes are paid on time.

For purchasing property a Brazilian ID called Cadastro de Pessoa Fisica (CPF) is required which is easily obtainable. It is basically taxpayer identification. To obtain CPF you need to submit a copy of passport and a request for a CPF signature card. All you have to do is sign it and send it along with a small fee to the Receita Federal. This card can be used in any purchase agreement. CPF is not required if you are buying an off-plan property.
For off-plan purchases in Brazil, building licenses must be checked and also make sure that the land is properly registered and has 'copia da escritura publica' and a certificate from the notary.
Funds for the purchase must be brought into Brazil through an international wire transfer to the Central Bank of Brazil, as it helps the Government to record all investment into the country from overseas. This official route is necessary if you want to avoid hassle when transferring funds out of Brazil.
Once a buyer finds the suitable investment property in Brazil, a certificate known as Certidao de Onus Reais must be applied for.
After negotiations a small non-refundable deposit is usually paid to the seller.
A sales contract is made that has all the details and conditions of the deal.
Before signing the contract all necessary legal checks must be completed to the satisfaction of the buyer. Make sure that you are aware of all the points in the contract, for that you must have the contract translated in English.
After all the legal paper work, the buyer and seller sign the Deed of sale finalizing the property sale process before a Notary. The Notary has to make sure that all legal requirements have been met.
On completion, the buyer pays the balance of the purchase price, all professional fees, transfer taxes and notary fees etc.

Costs of a standard property purchase in Brazil include the following:

Stamp duty (or purchase tax) at 3% of the purchase price.
Government purchase tax of between 2% and 7% of the purchase price

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Brazil » The Purchase Process

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