Hi All,

I was speaking with a few agents and it seems i could by propertys in brasil without register you money in central bank.
One of the agents who i was spoken said me i could transfer the money for one europe account.

Is it Possible ????
in my opinion it seems ilegal but i don't know anything about laws.

Someone could explain me this ?

Thanks
Jo

Jo,

You can do this, but you will have problems getting the money out of Brazil when you sell.

So it is probably not worthwhile doing unless you intend to hang on to the property forever or else you can find someone to buy the property off you later by also not registering their money with the central bank (not too likely).


Regards,
Rob.

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Thanks for your reply

ok it seems it's not ilegal.

The only problem is get out the money from brasil.

But in case if you want to keep your money in brasil it seems a good choise no ????

Cheers
Jo

Jo,

What sort of deal is this? How much money are you talking about?

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Around 600.000 R$

Is this a resale or a new build?

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thanks for your quickly reply.

will be a New build

Jo,

It sounds a bit strange that the money isn't going to be registered in your name for a new build.

Are you sure your money isn't being sent to a lawyer's trust account who would then forward the money on in your name?

Where and on which development are you buying?

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I was speaking with a few agents last week. And they said me it not a problem to buy without register.

problably will be a resale i don't know

I'm thinking to buy in cumbuco area but i still doesnt have any choise for now. I'm open to see more things in that area.

I will check it next month in brazil.

Problably what you said in your last line could be possible.

It is not legal to receive money into Brazil into an account here, whether it be the sellers account or your own account, without it being registered at the Central Bank of Brasil. It is an offence that could put you in jail, and also the recipient. The Federal Police here investigate on behalf of the Receita Federal such cases. If you are being asked to send money in this fashion, it will end up black money and could be consficated. Also I would be very suspicious of any developer asking for that. Why would you want to do it? A sure fire way to get cheated! Using Casas de Cambio it may still be possible, but I think they have tightened up on them now.

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Michael Bush
e-mail mbush5@aol.com
http://www.thecompletepropertysolution.com
skype name michaelbush