While Brazil welcomes foreigners to invest in its real estate sector, there are certain regulations and prerequisites to be aware of. Here's a quick guide to understanding the landscape: Foreigners, regardless of their local tax resident status, are eligible to buy real estate in Brazil. Exceptions do apply, especially in areas flagged for national security concerns or huge rural properties, although these instances are uncommon.
Documentation Checklist: If you're aiming to buy urban or small-medium size rural properties, the documentation is straightforward:
Individual Taxpayer Registration (CPF) from the Federal Revenue Service of Brazil is a must.
For married buyers, the CPF details of the spouse, along with the marriage certificate, are essential.
Digital CPF in the Wake of Covid-19: In response to the pandemic, the Federal Revenue of Brazil introduced a digital platform for foreigners to obtain their CPF. Instructions can be found on the respective consulate's online portal based on the applicant's nationality.
Other the CPF, the buyer will have to present his personal documents such as ID (from your country), translated to Portuguese and, to conclude the transfer of the funds to Brazil, the Brazilian Central Bank also demands documents regarding its provenience.
For Foreign Legal Entities: Entities not based in Brazil but aiming to invest in its urban real estate market can do so, provided:
They're listed in the National Register of Legal Entities (CNPJ) under the Federal Revenue Service of Brazil. This is stipulated in art. 4th XV of Normative Instruction No. 1.863 dated December 27, 2018.
A legal representative residing in Brazil must be designated to address property-related legal matters. This power of attorney can be officially verified by the consular authority from the entity's home country.
Estate Brazil is here to guide and support you at every step of your property acquisition journey.