Buying property in Brazil
IS IT POSSIBLE TO BUY A PROPERTY IN BRAZIL?
Are there any legal restrictions banning a foreign investor from purchasing real estate in Brazil?
Any citizen can purchase an urban real estate in Brazil, including foreigners. There are some restrictions to rural properties’ acquisitions, but the restrictions do not apply in the case of standalone unit condominiums. The Constitution of the Federative Republic of Brazil states that the law shall regulate and limit the acquisition of rural property to foreigners, leaving free the acquisition of urban real estate.
What documents do I need to obtain a property in Brazil?
To acquire a property in Brazil you will need the following documents:
- Foreign passport or RNE (National Registration of Foreigners) if you have a permanent visa;
- CPF (/Individual Taxpayer Registry). The CPF can be requested also in a Brazilian consulate, either in the foreign country of origin or in Brazil, by proxy; if the buyer is married, we will also need the CPF of the spouse for the purchase;
- Power of attorney notarized in a Brazilian consulate, either in the foreign country of origin or in Brazil, registered in Notaries of Deeds and Documents and translated, with full powers, to buy, to sign deeds and private contracts and to solve any issue at the Notary Notes, Real Estate Registry (CRI) and Revenue Federal regulation for the property acquired on behalf of foreigner in Brazil.
Is there any restriction in buying a property in Brazil? For example, if a person has a criminal record?
Any crimes committed abroad do not preclude the acquisition of a property in Brazil. No type of criminal background is required.
In addition, it is important to hire a real estate lawyer to draft the contract, review the documentation and certificates, and also to verify that there is no legal impediment for the sale.
It should be noted that the purchase of a property in Brazil does not give you the right to obtain a Brazilian visa of any kind.
Our office can assist you with all legal process and all the documentation to buy a property in Brazil.
We also offer the service to search for real estate deals in Brazil and to manage properties here as well.
If you want an assistance for buying property in Brazil, or if you need a real state law office in Brazil to manage properties, contact us!