Can foreigners own property in Brazil?
Yes! Foreigners can buy property in Brazil. Foreigners are permitted to buy, own and rent Real Estate Property in Brazil. According to Brazilian law Brazilians and foreigners are on almost equal footing when it comes to property ownership and tenant rights.
There are some limitations but they apply for some properties considered strategic by the Brazilian government. A foreign government cannot own real estate property in Brazil except buildings and properties used for consulates and embassy sites.
Foreigners can own property in Brazil without a Visa. However, foreign individuals and foreign companies need to issue a Brazilian tax ID number – CPF for individuals and CNPJ for entities – before purchasing any property in Brazil.
Although Visa is not required for foreigners buying real estate property in Brazil, buying a house or condo may help a foreign to get a Brazilian Visa. In October 2018, a resolution passed by the Brazilian National Immigration Council grants Visas to all those foreigners who invest BRL 1,000,000 (one million Reais) in real estate in Brazil. In some regions of Brazil, this amount is even less.
Some restrictions apply when buying a beach property or a farm. A foreigner cannot own a real estate property within 100 meter from the coast. However this restriction does not apply to beach house or apartment in a condominium.
Regarding rural properties, the land to be purchased by a non-Brazilian cannot exceed 150 hectares and 25% of the municipality’s (county) total area.
If you need a farmer larger than 150 hectares or a beach front land for a resort, CKSA may find a way to make this possible through a partnership with appointed shareholders.
Contact us via CKSA Support.
When buying property in Brazil check for debts of previous owners within the last 5 years
It is really important to to check for any kind of debt linked to the owners of the past five years. The property’s registry deed only informs about certain restrictions on the property.
You must also check if there are legal lawsuit against owners within the last 5 years. These lawsuits can have the effect of seizing the property to guarantee payment. The property being sold can be considered as an asset and a guarantee to pay creditors. These creditors can seize the property even after being sold to a third party.
Looking for real estate property in Brazil? Don’t fall into traps!
Check out our Real Estate Due Diligence service .