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Brazil
Living in Brazil.
Why – Great value for money and it’s an emerging market on the brink of a boom period. Overall look at Brazil – NATAL LOCATION
• Natal, is located on the north east coast of Brazil
• On the Atlantic Ocean, very close to the equator
• Closest Brazilian city to Europe, Direct flights from Barcelona, London, Lisbon, Scandinavia etc…, 7 to 8 hour flight, remarkably shorter flying time than any other destination in Brazil from Europe and North America
FACTS
• Brazil is the fifth largest country in the world covering an area of eight and a half million square kilometres.
• 35 times larger than the UK
• Has an average population growth of 2.3% per annum.
• 170 indigenous languages are spoken in Brazil, with Portuguese being the official language; Spanish is widely spoken, English in tourist areas.
• Brasilia located inland, is the country’s Capital.
• Popular cities include Rio de Janerio, Sao Paulo, Salvador, Brasilia, Belo Horizonte, Natal, Horizonte and Florianopolis.
• The only country to win the World Cup 5 times
• Samba rhythm was created in the 1920’s in Brazil, also Capoeira, and Bossanova. LIVING IN BRAZIL-NATAL
• More than 300 days of sunshine, with average temperatures of 26°C.
• All year round tropical climate
• Favourable currency exchange at the moment, the cost of living is a mere 20% of the cost in the UK/Europe. Great natural beauty with fantastic scenery and 7,000km of beaches, some of the best beaches in South America.
• Friendly nature of the Brazilian people. Vibrant cities with carnivals and music.
DESCRIPTION OF BRAZIL - NATAL
• Natal, “The sun shine city”, city with most hours of sunshine in Brazil
• White dunes framed by coconut trees, clear waters full of lobsters, typical rafts crossing the sea. A land of peaceful and hospitable people, where living is, above all, a gratifying experience
• North East Brazil boasts stunning beaches and a balmy tropical climate
• 7.000km of coastline
ACTIVITIES
• February is the month dedicated to Carnival
• Natal also has its own local Carnival, CarNatal, which is in the end of November
• Windsurfing, sailing, waterskiing, surfing, kite surfing, diving (Diver’s paradise, stunning coral reefs especially in Maracajaú) and many other water sports
• Golf, tennis, horse riding, beach volley and much more
• Capoeira (lively Brazilian martial art that mixes acrobatic and ballet moves with dance and percussion).
• Samba schools
• Exploring the dunes (professional drivers take one on a Dune Buggy along the coastline and into the dunes on an exciting expedition while teaching one to drive like a pro). INVESTMENT
• Some areas in the north east of Brazil saw property price returns of 20%+ last year
• Brazilian economy is one of the fastest growing, emerging economies worldwide, mentioned together with Russia, India, and China (BRIC) as one of the expected world leading economies of the future
• The North east of Brazil is earmarked by financial analysts and economists as one of the next major boom areas outside of Europe
• Current favourable currency exchange, making it cheap for foreigners to invest, (property purchase is usually done in $US)
• Foreign investment is actively encouraged and you can own 100% of land and property, one of the only countries in South America where foreigners can have freehold property
• Inflation low at 5.7%.
• Due to a solid and promising economic climate, Brazil is amongst the fastest growing and most sought-after worldwide property locations, while returns on investment from Brazilian real estate are currently amongst the highest in the world.
• Construction period will be 12 - 24 months
• Very well protected environmental situation, because of the flora and fauna in the tropical forests and dune areas.
TAX
• Tax on rental income, is charged on worldwide income for residents of Brazil
• Mortgage interest is not deductible in calculating taxable rental income
• Non-residents are normally subject to a flat rate of 15% capital gains tax from properties in Brazil
• Brazil has no inheritance or wealth taxes
• There is an annual property tax of approximately 0.6% per year of the assessed value
• However, as a company, we would suggest that the clients do their due diligence and check their tax liabilities in their country of origin. (We are not tax specialists) RENTALS
• Most affluent Brazilians still don’t have enough money to purchase holiday homes, however they are able and willing to spend a lot of money on holidays, hence the very high rental prices.
• All year round rentals due to climate
• They travel in groups of friends or with family; it works out cheaper for them to rent a large apartment or villa then hiring 3-4 hotel rooms for a week, so favourable rental market
• 2 bed apartment rents for about €600 / week
• The main rental market is Brazilian, with an increasing foreign market
• It is fairly safe to say, that rental in the high season will cover costs on a yearly basis.
MORTGAGES
• Mortgages are in place, but are difficult to obtain as a foreigner; you can expect rates of around 13-15%, and this might change, so at the moment better to get finance in one’s own country. We are trying to get things worked out with a UK based lender for a 50% mortgage; rates expected around 7%
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