How to avoid taxes with Real Estate
By Tricia L Chaves – news repost
A fee of two percent per transaction will be charged when the money enters Brazil, in an effort to maintain stability in the short-term investment market, and perhaps capitalize on what is certain to be an increase in interest in Rio de Janeiro, and the rest of the country.
Real estate transactions are exempt from this tax making it an even better time than ever to take part in Brazil’s thriving housing market. Whether it is for a rental property, a second home, a piece of land to develop, an addition to your company or if you plan to relocate, a property purchase in Brazil is one of the best ways to participate in the country’s growing economy.
With a real estate purchase, you can get the most return and tax benefit from your investment dollar with a generous capital gains tax exemption, in as little as five years. Long-term investors are exempt once they have owned the property for 20 years or more.
Another financial benefit: residents of Brazil enjoy free public health care and education. If you choose to live in Brazil after making your real estate investment, you can deduct any health-related expenses from your annual taxes if you elect to go outside of the free public health system, plus any private education expenses incurred by you or your dependents up to about R$2,198.
The only restrictions to purchasing in Brazil for the foreigner is that property may not be located fewer than 10 km from the country’s borders or on any islands under Brazilian jurisdiction.
Brazil welcomes foreign investment but the process may be different than your home country and therefore hard to navigate without the help of a professional. It is recommended that you procure a bi-lingual lawyer and real estate broker locally who speaks your native language along with Portuguese to ensure your purchase process runs smoothly, that you understand all of your legal rights and obligations, and to assist in filing the necessary documents for your work and permanent residency privileges.
In order to complete these tasks, the fund will combine its capital with third party institutional partners to further augment its capital base.
Thanks for this. We all like a bargain and your advice helps
Call it what you want since the outcome is the same. Commercial real estate is overbuilt, with a huge excess of capacity. Since job numbers and general wealth of Americans has lost a decade already, and furthermore since our basic attitudes towards spending have changed, it seems to me that every bit of commercial real estate built in the last decade was a bubble. Some of the new buildings will displace older buildings but the net effect is the same and easily visible in my community and probably most communities around the US… empty store fronts galore, and often in brand new buildings. A bubble is a bubble. Commercial real estate development over the last decade occurred at a rate suitable for an economic outcome that proved illusory and overly optimistic.
In my unbiased opinion, any opportunity to go to on a walk-about is a good opportunity not to be squandered, lol.
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The government report on jobs says there is a gain of 180k. The jo reports on the ADP report shows aloss of 55k…..ADP Mining looses 7000 jobs FED mining gains 9000….It is all Bullshit with no striaght answers. NO TRANSPARANCY whatsoever…And as some of the other folks have said while it is nice to hear about the I Pod….Really So What..They chatter about the I Pod but say nothing of Last months Foreclosure report which show filings consisitant but the bank takovers and short sales way up. As 2000 families per day are losing their homes who gives a damn what the jack off economists are saying. On Main street 2000 homes a day, well that is about 6000 folks being tossed out into the street…i am sure they are concerned about the Dow Jones.
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