New Investment in Brazil - Help

[rkinvestor]

Hi,
I am planning to buy a plot of land in Joao Pessoa, Paraiba. The project is under Green Land Securities called Palma Do Mar. They have recommended a law firm called Manzanares International Lawyers. The law firm is saying that I have to sign a POA (Power Of Attorney) so they can act on behalf of me with the developers.
Any suggestions or inputs on what should I do? Any help would be appreciated.

[robh]

Originally Posted by rkinvestor

Hi,
I am planning to buy a plot of land in Joao Pessoa, Paraiba. The project is under Green Land Securities called Palma Do Mar. They have recommended a law firm called Manzanares International Lawyers. The law firm is saying that I have to sign a POA (Power Of Attorney) so they can act on behalf of me with the developers.
Any suggestions or inputs on what should I do? Any help would be appreciated.

Hi RK,

It is pretty standard for them to ask you for this. You don't need to sign but it means you will need to travel around a lot to sign and register (in Brazil) various documents, apply for a CPF, etc... Ask Manzanares or GLS and you should get a good explanation.

Regards,
Rob.

[rkinvestor]

Thanks Rob.
The only thing I am worried about is the POA which can be limited to the transaction according to Manzanares.
I did some research on them and they look to be an international firm but trusting them with POA without having much background makes me a bit hesitant.
Any input on this?

[robh]

Originally Posted by rkinvestor

Thanks Rob.
The only thing I am worried about is the POA which can be limited to the transaction according to Manzanares.
I did some research on them and they look to be an international firm but trusting them with POA without having much background makes me a bit hesitant.
Any input on this?

They are a fairly large law firm (i think about 50 staff) and I have dealt with them for years.

[michaelbush]

Originally Posted by rkinvestor

Hi,
I am planning to buy a plot of land in Joao Pessoa, Paraiba.

The loteamento Palma do Mar is in Jacumá, some distance from João Pessoa. It is also some distance from the nearest beach or village. There are several similar offerings. Locate Jacumá on Google and then the actual site of the lots. That will give some idea of what you are looking to buy.

Regarding POA- you will need a CPF number to buy the property. It can be done yourself but will take some time through the Basilian Consulate in London, but is easy to do, but you will need to visit there with the application, birth certificate and passport. You can give a POA for someone like a lawyer, to act and sign for you and restrict it to just the one transaction.

Better you come to Brasil (fly to Recife with Condor from Frankfurt direct) and see what they want to sell. Then go to João Pessoa and enjoy the town. Then come to Natal and make up your mind whether these lots are value for the longer term!