The Brazilian economy surpasses that of many European countries.
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The Brazilian economy represents 42% of the Gross Domestic
Product (GDP) of Latin America
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Brazil has one of the top ten global economies
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Brazil has the largest and most diversified industrial base in Latin
America and the Caribbean
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Brazil is one of the top global producers of electric power
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Brazil is the number one global producer of regional jets
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Brazil is the fourth largest global producer of commercial
aircraft
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Brazil has the most modern and advanced banking system in the
world
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Brazil offers an excellent infrastructure for tourism
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Brazil receives approximately 5 million foreign tourists per
annum, which indicates the significant potential to be exploited
in relation to tourism
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90 % of the rental
market is sourced from the domestic market, ensuring solid
rentals and end user opportunities.
Flights to Brazil take approximately 11 hours from UK. Flights to
various cities in Brazil can go from London Gatwick, London
Heathrow and Manchester with prices from as low as £200.
Foreigners Owning Land/Property –
There are no restrictions for foreigners to buy and sell
residential or commercial property and the Brazilian authorities
encourage foreign investment. There are some limitations or fees
applicable for specific areas such as marine land, islands,
agriculture land and areas near Brazils International border
Land Registry –
Property is registered in Brazil via private notary publics, under
justice control. Each property can only be registered at one
registry which stores the entire transaction history and physical
identification of each property. This information can be viewed
by the public and so many Brazilians buy and sell property without
the assistance of a lawyer however it is recommended for a
foreigner buying Brazilian property to get legal assistance.
Taxes –
IVA (VAT) in Brazil is 10% on a new property or 20% on a “luxury”
property. You also have notary fees of approximately 2%, property
transfer taxes of 4-5%, 1% import tax on funds and 0.6% annual
property tax.
Legal Assistance – As ever, we recommend that all people considering purchasing a
property overeseas get legal advice.
Visas/Passport – Passports should be valid for at least
three months after the date of your arrival in Brazil. If it will
expire within three months of your departure from Brazil you will
need to get a new one before travelling. If your passport states
that you are a British citizen you do not need a visa as a tourist
whose stay will be less than three months.
Money Transfers – It is imperative when buying property in Brazil that the funds
are sent directly from the buyer’s bank to the sellers account in
Brazil, this is sent via the Central Bank of Brazil who act as an
official receipt of funds into the country. The seller has to
present their contract to the bank in order to release the funds.
Any developers who do not use this official route should be
approached with extreme caution. Bank transfers take
approximately 5 days to reach Brazil from a UK account.
Brazilians are mostly very warm and
friendly. Shake hands every time you meet or take leave of a
Brazilian (even if you have met the person previously the same
day). If you are male, remember that Brazil is a Latin country:
expect Brazilian men to stand close to you, to hold your hand or
arm for extended periods, and to put their arms around your
shoulders and hug you. These are normal and socially acceptable
signs of friendship. Shake hands with Brazilian women on a first
meeting, and expect to be kissed (on the cheek) on subsequent
encounters (though this is less likely outside of the major cities
and in the North of the country)
Tourism in the North-East of Brazil increased by just over 26%
between 1995 and 2000, with 2.5million Brazilian and international
holiday-makers visiting the area last year. In fact Brazilians
make up over 90% of the tourist market. The international tourist
market is relatively small compared to other destinations however
it is growing fast. It is generally better known among Portugueuse,
Spanish, Italian and other South American Tourists.
It is only now opening up to the potential of international
tourism. The country’s bright tourism future has also been boosted
by the influx of major tour operators into Brazil, such as the Marroit
& Renaissance
chain, French operators Sofitel,
Mercure and Ibis, Spain’s Iberostar, and other big names like Club Med,
and Breezes SuperClubs. Charter flights have begun to
serve several new destinations including Salvador, Fortaleza and
Natal. A combination of the sunny climate, extremely low cost of
living and high-quality property available, has already attracted
not only overseas investors, but a growing communities of European
residents. |
