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| Buying “off-plan” in Brazil via IPL is a simple process.
Each development has its own quirks, but as a rule of thumb it will happen as follows:
View the development of interest and confirm your desire to allocate a holding deposit of £4110 / 6000€ to
the chosen property (in cases where you are viewing on a heavily subsidised inspection
trip, you may be expected to deposit this on a refundable basis prior to visiting)
A contract is produced and signed by the developer detailing the standard payment
structure as follows: 30% (Less holding deposit) after 30 days
25% after 6 months
25% after 12 months
20% on completion
Flexible payment terms are possible; you will have an opportunity to negotiate
these points with the developer during your inspection visit to Brazil.
Generally, developments will have a build time of around 18 months.
The developer will be able to confirm the scheduled start date during your visit. Completing on a property in Brazil is very inexpensive, especially compared to the taxes and charges imposed in most European countries. |
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We would recommend
that you budget around 4 – 5% on top of the sale price in order to cover Transfer Tax (ITBI), Registry Fees and miscellaneous completion charges. Running costs, eg. Water, Electric & Community fees for your property will depend on the size of the dwelling and the facilities in the development.
Community fees are difficult to predict as they are generally set by the community of owners (that includes you!), however we are informed that a 2 bedroom apartment will cost less than £300/500€ per year. Tax payable on rental income is currently 15% of gain, less (of course) the many personal deductions available. Capital Gains Tax is 15% - however there is no capital gains tax to be paid if the profit is reinvested within 6 months.
Click here to view Inspection Visits |
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