RULES OF THE GAME
1. You need a Brazilian ID called a CPF.
2. To get a CPF* you need a birth certificate translated into Portuguese by a certified.translator and legalized by the Brazilian consulate in your home country.
*(But about this you also have others alternatives, if you want to learn more check on this blog about CPF).
4. The next day you go to the Receita Federal to receive your assigned CPF number.
5. Your CPF card is mailed to an address in Brazil within two months. (That's right, you need a Brazilian address.)
6. It’s best to use a trustworthy broker. Not only will the a good broker help you find a property, but he or she will make sure the price is fair, as well as make certain that the property is owned by the seller, and that there are no debts on it.
7.The contract is prepared by the selling broker and contains:
- All information of the seller
- All information of the buyer
- Location and specifications of the real estate
- The conditions of payment(s)
8. The contract is signed at the office of the broker.
9. You pay a down payment (usually about 10,000 Reais or $3,500 usd).
11. The cost for the property transfer is approximately 4%-5% of the purchase price.
12. Payment can be made all at once or in installments of 12, 24, 36 or 48 months¹, but interest rates can be as high as 35%. If you opt to pay in installments, there is also a currency risk. In other words, if the value of the Brazilian Real goes down, your real estate becomes cheaper, and vice versa².
13. There is a 1% "import" tax on transfer of funds from abroad.
15. There is an annual property tax of approximately 0.6% per year of the assessed value.
16. You will need to hire a care-taker to live on the property when you are not there.
17. Visas: Foreigners are allowed 3 month visas, or 180 days total per year in Brazil. If you want to apply for a permanent visa, one of the following conditions must be met: You are married to a Brazilian.