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How to Buy a Property in Brazil as a Foreigner: A Comprehensive Guide
To buy a property, there are certain bureaucratic steps to fulfill before you get the keys and move in, especially when you are a foreigner interested in acquiring a house or apartment in Brazil. This is because there are specific rules to follow to ensure a successful purchase.
What is this process like? If you are curious to know what documents are required, the steps to take, and other fundamental points regarding whether a foreigner can buy property in Brazil, read the article below.
Can Foreigners Buy Property in Brazil?
Generally, in our national territory, foreigners are allowed to purchase properties for any purpose, regardless of the value of the apartment, house, land, or other characteristics.
However, the person coming from another country must have their situation regularized in Brazil; that is, they must not have any pending legal or tax obligations in the country.
Additionally, there are restrictions: properties in border areas, rural lands, Marine lands, and properties of companies that broadcast news cannot be acquired by foreigners.
According to Brazilian law, you do not need to be a resident in the national territory to buy urban properties. However, if you intend to purchase rural property, you must be a resident or a legally authorized entity to operate in the country.
While it is allowed for foreigners to buy urban or rural properties in Brazil, there are restrictions:
Even though foreigners can purchase property in Brazil, there are rules to follow and documentation to present for the Brazilian legislation to authorize this process, such as having a valid CPF (Cadastro de Pessoa FÃsica).
Note that owning property in Brazil, even as a foreigner, does not automatically grant you a visa.
What Are the Required Documents to Buy a Property in Brazil?
Just like a Brazilian citizen, a foreigner needs to present a set of documents to acquire a property. The primary requirement is that the foreigner must have a valid CPF (Cadastro de Pessoa FÃsica).
The CPF must be requested from the Federal Revenue Service and follow the standard procedure, which includes presenting identity documents, among others. The same applies to the foreigner's spouse: both must have a CPF and a marriage certificate to present.
In addition to the CPF, the following documents are necessary for a foreigner to buy property in Brazil:
- Identity document, such as a passport or National Foreigner Registry (RNE);
- Original marriage certificate with a sworn translation and authenticated by the competent Consulate;
- Power of attorney granting specific powers to a Brazilian representative in good standing, not only in cases where another person acts on the property purchase, but also to have a local contact in case of dealings with the registry office or for notifications.
And remember: after the purchase, attention must be given to the public deed procedures, property registration, and other proofs related to the acquisition of the property.
How to Pay or Finance a Property in Brazil as a Foreigner
Now that you know that a person of another nationality can acquire certain properties in this tropical country, there is another crucial factor to conclude this process: the payment.
If the payment is made in cash, you can simply transfer the funds from your bank of origin to the destination bank, which must be a Brazilian financial institution.
However, for mortgage financing, foreigners need to have a bank account in Brazil and contact the bank to understand the financing possibilities.
After all, it is necessary to present financial movements to prove that you have the means to pay the contract installments, such as a monthly income or invested values.
