The benefits of living in Brazil

The benefits of living

Brazil is the largest country in South America. The capital is Brasilia, the official language is Portuguese. The country's economy is among the top ten economies in the world. The state occupies a key position in the world in the export of agricultural products, is the leader in the region in the extraction of mineral resources, and has the world's second largest forest reserves. Rich natural resources, the growing standard of living of the population, tourism, and the influx of foreign investment allow us to talk about the huge potential of the real estate market in the future 5-10 years.

The largest cities

The largest cities are Brasilia (2.46 million people), Rio de Janeiro (6.1 million people), Sao Paulo (10.9 million people). Sao Paulo and Rio de Janeiro are of interest for investments in residential and commercial real estate. Investments in resort real estate are attractive in the coastal regions. The length of the coastline of the country is 7.4 thousand km with excellent sandy beaches. Foreigners can purchase any real estate except agricultural land. The tax on the purchase of real estate (ITBI) is 2-3% of its value. There is no property tax.

Residence permit for real estate investments

Obtaining a residence permit is possible with investments in one or more real estate objects with a total value of at least 700,000 reais (about 110,000 euros) in the northern and northeastern regions of the country or 1 million reais (about 156,000 euros) for real estate in other regions. The rule applies exclusively to urban real estate. According to the current rules, it is necessary to spend at least 30 days a year in the country. After two years, the residence permit can be changed to indefinite permanent residence.