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Legal and practical information


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In this section you will find practical information about purchasing an apartment in Rio de Janeiro —the financial, legal and administrative details you need to know. If you need further information, please feel free to call or email us at any time.



Unlike in many developing countries, it is relatively easy for foreigners to purchase property in Brazil. There are no legal obstacles to foreign ownership.
You will need a taxpayer ID number, called a CPF. You can apply for it at the post office or at the Banco do Brasil and you will receive it 2-4 weeks later. Once you have your CPF, you are legally free to purchase your property. The seller is required to produce nine certificates verifying that he and the property are free of debts and obligations. Since this is the seller’s obligation, it requires no extra work or expense on your part.

Generally, a down payment of 10-20% is required to close the deal, with the remainder due at signing. The mortgage industry is less developed in Brazil than in other parts of the world, so financing a property is difficult, especially for foreigners. Interest rates are considerably higher than in Europe or North America, so bank financing is not recommended.
However, RioHolidays offers financing of up to 50% of your property. Please contact us for more details.

In order to open a bank account in Brazil you must have a permanent resident visa. Therefore, most foreigners must transfer funds to the owner from an external account. We at RioHolidays have considerable experience in navigating this part of the process, and we will work with you to find the best solution for your particular circumstances. Once the purchase is completed, the property will be in your name.
During the course of ownership, you will be responsible for the following expenses: Condominio –monthly common charges paid to the building’s administration. Covers the salaries of building personnel; expenses such as water and electricity in the common areas; fire insurance; routine maintenance and building renovations.
IPTU – city of Rio de Janeiro real estate tax. Pay it monthly or pay a year up front and receive a 10% discount.