Sao Paulo Investments
Sao Paulo Real Estate
Why wouldn’t you want to invest in Sao Paulo real estate Brazil is a gorgeous country, and Sao Paulo is no exception. Although the process of purchasing real estate overseas may be somewhat daunting, it can be done relatively pain-free and with little hassle. In fact, the market for everything from middle-class residential homes to business-class office space has only been getting hotter – low interest rates in Sao Paulo have led to a flurry of activity in the real estate market!
But how do you do it, and what kind of steps will you need to take if you’re not simply a foreign investor looking to purchase an entire office building? First, you need to obtain a Brazilian ID card, called a CPF. This isn’t too difficult to obtain – first, have your birth certificate translated into Portuguese by a translator, then take it to the Brazilian consulate where you live. They’ll legalize the certificate, and send you off the the nearest branch of Banco Do Brasil, where you’ll make the formal applications for a CPF. Within a day, you’ll be able to head to the Receita Federal for your CPF number.
Here’s the tricky part. You’ll need to have your CPF card mailed to a Brazilian address, and it will come within two months. Brioo office and Sergio castro will register your CPF.it will arrive in our mail box
When it comes to registration for your Sao Paulo Real Estate Brazil charges a property transfer tax of around 4-5% of the purchase price – you can make this in installments, or you could pay it all at once. Interest rates are dropping, which is good for buying at the current time, but keep in mind that you’re always running a risk of currency depreciation when buying in a place like Sao Paulo. If the Brazilian Real drops, your property value goes down, and the same is true in reverse. There is also a 1% import tax for the transfer of large sums into the country, though there are ways to get around this – check with your broker for details on how this can be legally accomplished.
Here are a few final things to consider before buying Sao Paulo real estate Brazil charges an annual property tax, which will run about 0.6% annually of your property’s value, and you’ll also have to pay for someone to take care of the home while you are not in the country. The longest available visa for someone visiting the country is 3 months, and you’ll only be able to obtain a permanent visa for Brazil if you meet certain conditions.
You may be able to earn back some of the money you spend on purchasing Sao Paulo real estate Brazil by renting out your property as a vacation home, though the legalities of this will need to be worked out with BRIOO/CASTRO – the feasibility of this must be considered on a case-by-case basis.
Although there are a number of hoops to jump through before you can finally obtain your new property in Sao Paulo, owning overseas real estate can be a very rewarding venture. Should the market continue to grow – and all signs currently show this to be the trend – you’ll be able to earn a solid return on your investment in the future.