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Old 01-04-2008, 09:37 AM
JMBroad JMBroad is offline
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Join Date: Jun 2007
Location: Natal, Brazil
Posts: 1,048
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Gee, you can do a search on the forums to get more detailed information but basically the summary is this:

1) Any money you pay for your property should be sent to Brazil either directly by you or in your name (and with you having proof of this).
1a) Reason for the above Nr 1 - When you come to sell, you can only take the money out of Brazil if you can show that you invested it in Brazil in the first place
1b) Second reason is so that you can apply for a investors visa if you invested enough and if you want to which will allow you to travel back and forth to Brazil.

The money has to be sent to the Banco Central do Brasil, and the person who collects the money has to prove what the money is for, in the case of real estate investment by providing the title deeds or promissory contract.

Even if the developer is from Europe, the money has to be sent in your name to Brazil. I do know that there are some exceptions where developers charge a percentage of the property value in Europe to cover marketing expenses.

I've checked the legality of this and it is legal and above board - it's just whether you are happy with doing that or not. Ultimately it is your decision whether you are comfortable with that or not. If you are, you have to realise that the percentage paid in Europe won't be on your title deeds in Brazil.
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