Bringing money from Ireland to Brazil

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Member since 02 December 2019

PgemballaMember02 December 2019 07:45:16

Hi. Myself and my husband are bringing money to brazil to buy a house. Would we have to pay tax on that? The money was earned in Ireland and it is in a saving account at the moment. Thanks a lot.

GuestPoster204 Guest

GuestPoster204Guest02 December 2019 08:29:10

214245

Pgemballa wrote:
Hi. Myself and my husband are bringing money to brazil to buy a house. Would we have to pay tax on that? The money was earned in Ireland and it is in a saving account at the moment. Thanks a lot.

Not that I know of. There will be fees on transfer of ownership and the cartorio that records the process. Of course there will be a commission on Forex. The govt of Brazil is still on the process of
returning the "taxa de movimentação financeira" which is another fee on financial transactions.

I would suggest to wire the money to the seller´s account - the sale contingent on him receiving the deposit on his account.

robal

Pgemballa Member

Member since 02 December 2019

PgemballaMember02 December 2019 10:23:12

Thanks very much Robal.

GuestPoster204 Guest

GuestPoster204Guest02 December 2019 12:34:16

214245

Pgemballa wrote:
Thanks very much Robal.

You´re welcome.

Texanbrazil Brazil Advisor

Member since 10 February 2018

TexanbrazilBrazil Advisor02 December 2019 13:17:27

2744

I agree with robal. Wiring direct to your attorney's or sellers account,
You will not pay income tax on the funds just the fees associated with the purchase.
You can bring it into BR as long as you declare it. (Would have back up doc's, CPF and CRMN or proper documents allowing you to enter and make the investment.)
One of you a permanent resident or BR citizen?

Pgemballa Member

Member since 02 December 2019

PgemballaMember02 December 2019 17:43:53

Yes I am Brazilian. Thanks for d reply

Texanbrazil Brazil Advisor

Member since 10 February 2018

TexanbrazilBrazil Advisor02 December 2019 21:15:52

2744

You should be fine.
When I purchased in Curitiba I wired the money direct and let the sellers worry about the taxes.

abthree Brazil expert

Member since 28 December 2017

abthreeBrazil expert03 December 2019 00:22:56

5967

Pgemballa wrote:
Yes I am Brazilian. Thanks for d reply

Since you are Brazilian, you either already have an account in a Brazilian bank, or you will be able to open one when you arrive (foreigners can't open an account until they establish permanent residency). In that case, you can have the funds wired from your foreign account directly to your Brazilian account, and have control of your money until you're satisfied that the paperwork on the property is clean, and that the transaction is completely correct and transparent, and decide to disburse the funds yourself. That was what I did when we bought our apartment, and I felt much more comfortable than I would have done in trusting an agent I hardly knew with control of the money.

Pgemballa Member

Member since 02 December 2019

PgemballaMember03 December 2019 12:55:37

Thanks very much!

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