Brazil
Compared to many other destinations, Brazil is still relatively under explored in terms of its real estate potential - which creates excellent opportunities for higher returns on property investments.
The country has recently experienced a big boost in its popularity abroad, helped by its robust economic performance and a more active role in the international arena. Most major tourism operators and hotel chains have now started to invest in large-scale projects in Brazil, especially in the warm and sunny northeast coast With almost 5,000 miles of coastline, Brazil is a prime location for oceanfront properties, and perhaps one of the safest countries - both from a geographical, climatic and political viewpoint - for a property investor looking at long-term appreciation.
Capital: Brasília
Language: Portuguese
Currency: Real
Religion: Christian, Catholic
Time zone: BRT (UTC-2 to -5 (officially -3)) - Summer (DST) BRST (UTC-2 to -5)
Buyer’s Guide
Buying Process: You need a Brazilian ID called a CPF. The cost for the property transfer is approximately 4%-5% of the purchase price. After registration, you are the legal owner. There is an annual property tax of approximately 0.6% per year of the assessed value.
Visas: Foreigners are allowed 3 month visas, or 180 days total per year in Brazil.
Non residents are subject to Brazilian income tax in regard to the income earned from Brazilian sources. Incomes obtained in Brazil by non residents are subject to a standard withholding tax of 25%. on.
CAPITAL GAINS TAX:
Individuals: 15%
Corporations: Corporate capital gains arising from the sale or exchange of fixed assets are treated as ordinary income and taxed at the regular rates.
Brazilian non-residents are generally subject to withholding tax at a rate of 15%
Inheritance and Donation Tax: 4% of the appraised value.
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