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#July 2020 #Blog Real estate investment opportunities for foreigners

The devaluation of the real against the euro or the dollar is a real opportunity for foreign investors, especially in Praia do Forte, Bahia, with a constant tourism and infrastructure growth every year. In 2018, the Ministry of Labor approved a normative resolution 36 legal rule that grants a residence visa by investmenting in real estate, therefore, a visa opportunity that other countries such as Spain and Portugal, among others, called it "Golden Visa". A foreigner can easily acquire a property in Brazil, only with a passport and CPF.(fiscal local ID)

The Ministry of Labor's procedure is relatively simple. The visa is granted for an initial period of 2 years, renewable every 2 years and for an indefinite period. The minimum investment in finished or under construction products is R $ 700,000, or approximately USD 130,000 (North and Northeast States) and R $ 1 million for other regions. In addition to the property purchase program, the government adopted a resolution that makes it easier for retired foreigners to reside in Brazil. The idea is to attract foreigners who receive around US $ 2,000 a month in retirement pension but also in financial investments, rental incomes...  (From the O Estado de S. Paulo newspaper ...)

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