Its possible to buy a property in brasil without register the money in Central Bank ?

[bana1104]

Thanks Michael,

I didn't say i want to do it, i just ask if it is possible to do it because a few agents said me that.

That's why i was put this post just to clarify my clues. I'm a new possible investor in Cumbuco and before buy some property i really like to be inform from everything.

After read your email i could see its ilegal (because in this case it seems the sellers doesn't have account in brazil but juts in europe)
correct ???

Thanks for you reply
jo

Originally Posted by michaelbush

It is not legal to receive money into Brazil into an account here, whether it be the sellers account or your own account, without it being registered at the Central Bank of Brasil. It is an offence that could put you in jail, and also the recipient. The Federal Police here investigate on behalf of the Receita Federal such cases. If you are being asked to send money in this fashion, it will end up black money and could be consficated. Also I would be very suspicious of any developer asking for that. Why would you want to do it? A sure fire way to get cheated! Using Casas de Cambio it may still be possible, but I think they have tightened up on them now.

[michaelbush]

Originally Posted by bana1104

Thanks Michael,

I didn't say i want to do it, i just ask if it is possible to do it because a few agents said me that.

That's why i was put this post just to clarify my clues. I'm a new possible investor in Cumbuco and before buy some property i really like to be inform from everything.

After read your email i could see its ilegal (because in this case it seems the sellers doesn't have account in brazil but juts in europe)
correct ???

Thanks for you reply
jo

The problem will then also be to register the property in your name at the value paid. If no money enters Brazil then it is a gift, which would be valued by the prefectura for tax purposes. You would then be taxed on the whole sum on sale as capital gain, and still not be able to take the money out! If the developer does not have a company in Brazil with a bank account, then again be suspicious. What agents told you it is possible? Other people may wish also to avoid wrong advice.

[Dotty]

The most important thing to do in Brazil is put your money through the central banking system(if you do not )then it will be tough to try and get the money out because it willd not show what resourses and how the money got in the country.