Below is the standard purchase process in Brazil and
issues that may affect a property purchase.
Under Brazilian
law, foreigners may buy, own and rent property in Brazil and
are entitled to similar
rights as Brazilians regarding property
ownership and tenant rights. The only restrictions affecting
foreign buyers in Brazil include certain areas of land subject to
national and security interests. All foreigners purchasing pro-
perty in Brazil require a tax identification number (cadastro de
pessoa
física/CPF). The CPF identifies the buyer for tax and
registration purposes and is obtainable from the
Brazilian tax
office.
The transfer of all funds for a property purchase into
Brazil must be made through the Central Bank of
Brazil where
records are kept of the transfer.
Before buying, the buyer should apply for a certificate known
as ‘Certidao de Onus Reais’, an
identification document for
the property which states its entire ownership history.
A sales
contract is drawn up detailing the full conditions of the sale and
also acts as receipt for the
deposit paid. The final sales deed
completion is normally carried out in front of a public notary.
The
deed should then be registered at the Real Estate Registry. |
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Residence International Realty - Private Brokers, has identified a
simple and transparent purchase process for its clients as a
simple, four step process:
1. The client chooses and reserves the unit that best suits their
investment requirements, and Residence International Realty -
Private Brokers takes the client through a compliance procedure.
2. An independent lawyer, sourced and appointed for the client by
Residence International Realty - Private Brokers, will have already
carried out fulldue diligence on the project. They will issue all
purchase contracts and paperwork to the client.
3. On receipt of this contract, the client will sign and make the first
payment. The lawyer will notify the client of all further payments
when required.
4. The appointed lawyer will also represent the client in all aspects
legally required within the country ofpurchase, ensuring that clients
of Residence International Realty - Private Brokers enjoy the benefits
of simple and hassle-free real estate investment. |
