quarta-feira, 12 de abril de 2017

Upcoming changes in purchase of land by foreigners

From my twitter feed;


The President's Chief of Staff Office in Brazil has just finished up a bill that frees the purchase and lease of land to companies with foreign control, without setting area limits as always defended by the forestry sector and farm caucus in Congress. The project is ready for voting in the Chamber of Deputies floor, but there is still a dispute among deputies of President Michel Temer’s allied base about who will sponsor the bill. In the text to which Valor had access, foreign companies or citizens are prevented from owning or leasing together more than 25% of a municipality’s territory. And it forbids foreign companies or persons of the same nationality from owning land that accounts for more than 40% of a city's territory. These rules are not valid if the foreigner marries a Brazilian citizen in communion of goods. There is still no date for the vote.

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