Real Estate Investment Growth Opportunities
- A Brazilian government survey stated it is expecting growth of 28 % in the number of visitors for 2006 in the Fortaleza region.
- 30 % of property owners in Fortaleza are international investors
- Fortaleza has 22 international flights per week and 11 charter flights per week and that number is expected to grow aggressively.
- Pinto Martins Internationl Airport in Fortaleza in one of the newest and most modern in Brazil . It has the capacity to receive 2.5 million passangers per year and they can receive up to 19 planes simultaneously. The airport is a 15 minute taxi ride to Fortaleza´s city center.
- Property and Living Costs in Brazil are far lower than the Caribbean, Europe, US, Central America and the Pacific.
Foreigners Buying Property in Brazil
- Yes, a foreigner can buy property in Brazil with 100 percent ownership. All transactions are made through The Central of Brazil and are notorised.
- Non-Brazilians have the same legal rights as residents protected by the Brazilian Constitution.
- You can easily obtain a permanent visa to live in Brazil once you have invested more than $150,000 BR (approx USD$85,000) into Brazil. This investment can include the purchase of your own property if the purchase is correctly structured and included within your business plan. We have Brazilian lawyers who can advise you on this matter.
- There are no government restrictions on foreign investors into the Brazilian Real Estate-Tourism industry.
Taxes on Property in Brazil
There are 3 main taxes incurred with a purchase of real estate in Brazil .
The IPTU the real estate property tax which normally goes from 0.5% to 1.5% of the value depending on the use of the property and the city.
ITBI the real estate transfer tax based on the value of the property. It is normally around 2% and has to be paid in order to officially register the property before a Notary Public.
IR represents the income tax. The amount depends on the capital gain and the rate goes from 15-25% but is normally 15% for standard residential properties
When Purchasing Property with Sand Garden Homes:
Once a purchase agreements is made SGH contacts their attorney in Fortaleza to have an official and legally binding contract drawn up stating all the agreed terms and conditions. Contracts copies are supplied in English as well as Spanish if requested. Although a Portuguese contract must be signed to be fully accepted in Brazil under law.
You can buy an apartment off plan with just a notorised signature card which the SGH attorney will assist you with. This is so all contracts and deeds can be legally notorised in your name.
The relevant contracts/documents are either sent by FEDEX or faxed to the buyer to review and sign
Once the contract is signed and returned to SGH it is notorised and held at the bank.
The money amount (including taxes) stated in the contract is then transferred to the Brazilan bank account where it is controlled, in accordance with Brazil law, and released to SGH upon presentation of your legally notorised contract.
Once the money is received and documented SGH sends the buyer verification
Cost of Living in Fortaleza
Daily cost of living items in Fortaleza is sufficiently lower than other coastal cities in the world. There is an abundance of seafood available; fish, lobster, crab, shrimp, and escargot along with famous Brazilian BBQ "Churrasco" and of coarse filet mignon and other fine cuts of beef. If you prefer to dine in, shopping at the local markets will prove to be very exciting and affordable. For example you can purchase a kilo of shrimp for $4.50 and either cook it at home or take it to a local beach front restaurant and have them prepare it for you while drinking an ice cold beer. Eating out in Fortaleza offers a fantastic selection of cuisine with unbeatable prices. You can have oysters shucked in front of your beach chair with choice of seasoning for $2.75 or if you prefer lobster it costs around $2.00 each.
The cost of labor in Brazil is extremely affordable. A few examples of the benefits are; a Swedish or deep tissue massage on the beach costs $13.00 USD per hour and a full time keeper is $300USD per month.