Buying property in Campeche can be a great investment, but navigating taxes and paperwork as a foreigner requires preparation. Here’s what you need to know:
- CPF (Cadastro de Pessoa Física) Before purchasing property, foreigners need a CPF, a tax identification number issued by the Brazilian government. It’s easy to obtain through a local Receita Federal office or Brazilian consulate.
- Property Taxes
ITBI (Transfer Tax): Around 2–3% of the property value, paid by the buyer.
IPTU (Annual Property Tax): Varies by location and property size, but expect BRL 1,000–3,000 annually for a standard home in Campeche. - Legal Assistance Hiring a local lawyer or consultant is highly recommended. They will ensure the property has a clean title and help with contract reviews.
- Payment Options Foreign buyers can purchase property through a Brazilian bank account or via international transfer. Proof of funds and legal origin of money are typically required.
Navigating these steps can seem daunting, but with the right guidance, buying property in Campeche is a straightforward process.