Why Invest?
Brazil is a country that will enchant you with its breathtaking natural scenery, picturesque colonial towns, vast rain forests with an array of wildlife and idyllic climate very different from other European destinations. Brazil’s wildly energetic cities are home to a multitude of ethnic groups that have inherited a rich, unique and diverse culture. The land of samba and music is also known for its love for dance and life.
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Market Report
Our forecast is that Brazil is going to emerge as the next big thing in the property market. Brazil’s economy is strong and therefore would not be much affected by the global credit crisis. It is in good shape to cope with the deceleration and will not enter recession in 2009. Property market in Brazil will not suffer as the many nationals are showing keen interest in it. There is a huge demand for houses from nationals as well as foreigners so prospects are looking up for the property market.
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Economic Overview
Brazil has a rising economy, growing agricultural, mining, manufacturing and service sectors and boasts of the most sophisticated industrial sector in Latin America. Brazil has become the most powerful country in South America in economic terms. It has the highest ranking among all the South American countries.
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Visa/Residency Issues
Foreigners are allowed a three month visas or a maximum stay of 180 days per year. All tourists visiting Brazil must have a passport, visa requirement however depends on the relations that the country has with Brazil. Mostly Brazil applies the same rules for such requirements as the concerned country does for example it demands a visa from USA citizens as they have the same requirement for Brazilians.
A tourist visa allows you to stay in Brazil for a short duration of 90 days and on your arrival you need to show the return ticket. UK and European citizens can go to Brazil with just a passport and do not require a visa. U.S. and Canadian citizens have to acquire a tourist visa for Brazil. Tourist visa is valid for up to 5 years and can be acquired for $100 from any Brazilian consulate. With tourist entry one can stay in Brazil for up to six months per year.
If you want to extend your tourist visa it can be done through any office of the Policia Federal. It is extended for the same duration you were granted before, meaning that if your visa was for 90 days it can be extended further for another 90days. Federal police must be contacted 1-3 weeks before the expiry of the visa. For a permanent visa for Brazil there is certain criterion that has to be met and this can be done through your nearest Embassy.
If you are becoming a resident of Brazil, there are a number of choices available. Here are some of the more common visas of Brazil:
For the retirement visa in Brazil there is no restriction on age as long as one has a source of income. The standard income requirement is $2,000 per month that covers the applicant and one dependant. To acquire investor’s visa in Brazil you need to make an investment worth $50,000 in any Brazilian company or any property. It expires after 5years and you need to renew it providing evidence of your investments. There is also a health visa for those who want to visit Brazil for medical reasons. For health visa you need to provide the medical details for which you want to visit the country and also the financial details.
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Getting to Brazil
As Brazil shares border with almost every country in South America except Chile and Ecuador it is has several gateway airports. If you plan to travel to Brazil during the festival periods it is better to have your reservations made in advance in order to avoid hassle and also to save money.
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Fees & Taxes
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Capital gains on the sale of a property are generally subject to Brazilian tax at a rate of 15%. The tax is determined by the difference between the sales price and the acquisition cost.
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Buyers of brand new houses in Brazil have to pay 8% IVA (VAT) if the house is completed or is being built at the time of the purchase.
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There is no inheritance or wealth tax in Brazil. Some states may impose a death transfer and a donation/gift tax which can be from 4% to 8% depending on the value of the inheritance.
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House buyers of re-sale property are required to pay the Transfer Tax which is now 8%.
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Brazil
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Basic Information
| Population |
198,739,269
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| Languages |
Portuguese (official), Spanish, Japanese and English |
| Area |
8,511,965 sq km |
| Currency |
Real (BRL) |
| Dialing Code |
+55
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| Emergency Services |
190 |
Brazil Overview
Brazil officially the Federative Republic of Brazil is the largest country in South America and fifth largest in the world. Brazil is a leading economic power. It offers dazzling beaches, tropical islands, finely preserved 16th century towns, diverse sights to enjoy and a vibrant atmosphere. Brazil’s has world's largest reserves of tropical forest, freshwater and tremendous biodiversity. It is well-known for its Amazon River. The population of Brazil is concentrated in the major cities of its coast. Brazil’s population is a unique blend of Native American, European, African people, Portuguese and other European groups. The mixture of different races gives Brazil an exclusive ethnic background and a diverse cultural heritage. It is considered to be the most tolerant, liberal and open societies, free from any inter-community tensions.
Average Property Prices
Brazil can offer properties at a fraction of the price compared to around the world, for example, an off-plan two-bedroom apartment for about £43,500.
The one-, two- and three-bedroom apartments are available, with prices starting at approximately 73,000 euro’s (£49,600)
Buying Process
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For purchasing property a Brazilian ID called Cadastro de Pessoa Fisica (CPF) is required which is easily obtainable. It is basically taxpayer identification. CPF is not required if you are buying an off-plan property.
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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.
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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.
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Once a buyer finds the suitable investment property in Brazil, a certificate known as Certidao de Onus Reais must be applied for.
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