Bringing money from Ireland to Brazil

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.

Pgemballa :

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

Thanks very much Robal.

Pgemballa :

Thanks very much Robal.

You´re welcome.

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?

Yes I am Brazilian. Thanks for d reply

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

Pgemballa :

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.

Thanks very much!

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