Thread: Real vs Dollar and other currency issues
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09-09-08 15:02 #659
Posts: 2024Originally Posted by Exec Talent
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09-09-08 01:39 #658
Posts: 2278Multi-tasking
Originally Posted by Sangue Bon
Actually, I just dislike seeing people get scammed like when a guy changes his name and regularly deletes posts to eliminate evidence of his outdated (lack of) knowledge of Rio.
BTW, didn't I see you in the NYC Brazil Day parade?
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09-09-08 00:10 #657
Posts: 2024Life is beautiful
Originally Posted by Exec Talent
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09-08-08 23:51 #656
Posts: 1364Originally Posted by Balluba
Another interesting stat is, there are about 4000 Brazilians with a net worth above $30 million. In the US there are about 40,000.
There are about 20 billionaires in Brazil, just under 500 in the US.
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09-08-08 23:10 #655
Posts: 222Caipiroska
Originally Posted by El Greco
B
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09-08-08 21:57 #654
Posts: 828Thanks Balluba
I will buy the drinks next time in Fortaleza early December.
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09-08-08 20:50 #653
Posts: 222Originally Posted by Sperto
But everybody should consult an accountant or a lawyer, to do this legal and as there are of course paperwork to be done.
We are all the time talking about European and American buyers. Most of my neighbors are Brazilians. There are 3 doctors, one own a textile factory making sports outfit , one own a hotel, one do export of skin to Italian fashion industry, etc. I guess they are middle class or upper middle class ? I am not used to those classification from my country. And I really dont care. They are extremely nice persons, to me. One even took an english courses some evenings, just to be able to share a beer and chat a little with me at the pool :-)
Someplace I read this :
"Brazil already has 220 thousand millionaires (2008).
A report released by the Boston Consulting Group (BCG) showed that 220 thousand Brazilians have, together, $ 1.2 trillion applied in the financial market. According to the Folha de S. Paulo, to belong to that group, you must have invested at least $ 1 million. Two years ago, the Brazilians formed group of 130 thousand members with $ 1.1 trillion."
Ok, this are the very rich ones. But with this increase, more people will follow soon. Maybe not the working class, but the middle class will have more money to spend.Last edited by Balluba; 09-08-08 at 21:00. Reason: add
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09-08-08 20:19 #652
Posts: 4053Originally Posted by Balluba
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09-08-08 19:44 #651
Posts: 2278Buying an Apartment in Rio
See my comments under Rio de Janeiro - Hotels & Apartments
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09-08-08 18:10 #650
Posts: 222Correction
Originally Posted by Balluba
This rules is specific for private people (Not a company)
1) If you sell after 5 years of ownership of the property and it is the only property you own in Brazil, and the property sale is under R$440,000 then it is tax free on Capital Gains.
Related the sales, if you sell the property after 5 years, you will have an opportunity to reinvest for buying a new land without tax within 6 months for doing the new operation. If you only sell the land after 5 years, you will pay tax.
BUT IF YOU REINVEST THE AMOUNT WITHIN 6 MONTHS YOU WON´T PAY TAX.
This mention according the Brazilian law is related the quantity of R$ amounts more than R$ 35.000,00, because if you have the amount of sale value less than R$ 35.000,00 you will not pay any tax ( will be tax free). For this rule, the property sale could be over R$ 440k.
2) a) Regardless of when you sell or the amount of sale, if you reinvest within 6 months the full amount then this would also be tax free.
b)If you reinvest with the 6months but under the full total sale price, you may pay some CG tax but can be offset against your new investment.
a) it is correct ( you will not pay tax if you do this operation ONLY once per 5 years within 6 months for bying a new piece of land);
b) it is correct ( you will pay tax for the difference)
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09-08-08 17:37 #649
Posts: 222The bright side, again ...
Originally Posted by Exec Talent
I can not speak for Rio, I do not know this market. I just gave an example from the Nordeste.
My post is written with the intention that one can also look at the bright side of the currency problems. What is the case for some, is not the case for all others. The post is not written to honor myself, or boast of good investments. My apology if it is perceived so.
If one wants to own a property in Brazil, often with a view to long-term stay or a pension, it can be wise to do that for some years in advance. Not only as an investment of money, but the possibility one then have to build up a network and make oneselves known, in a very different way than as a one-week tourist at Praia do Futuro, or Copacobana.
In the end, (for me) it is not about to win the dollars, but to live as you wants, in the country you want, with the lifestyle you adore and with the women(s) you love and desire.
B
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09-08-08 17:01 #648
Posts: 222Originally Posted by El Greco
Capital gains on the sale of a property by individuals will be subject to Brazilian tax at a rate of 15%. The tax is determined by the difference between the sale price and the acquisition cost duly reported on the annual income tax return.
Because there is a tax agreement between my country and Brazil (as in most OECD countries), there will be no double taxation. Anyway, its not a theme, as its written in my laws:
Capital gains on sale of holidayhome is tax-exempt when:
the owner has used the property as a separate holiday for at least five of the last eight years.
If one wish to take the profit out of Brazil, I would believe that one can swift them, as they where swifted into the country. Everything is fully legal.
B
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09-08-08 16:12 #647
Posts: 355Originally Posted by Exec Talent
I did not buy my apartment in Rio for an investment, and only lucked out and might make some money, in dollars, because the dollar has declined. My aparmtent might have appreciated some in 2 years, but not as well as putting the money in a brazil savings account.
Although I might make money in dollars, I live here and will not be taking the money back to the USA, so what is the point of thinking in dollars, nothing.
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09-08-08 15:31 #646
Posts: 56Originally Posted by Exec Talent
My appologies to you, I was not reading your post carefully, I understand now why you think it is not a great investment in terms of where you could put money. I do agree with you, if you take financial gearing that you can get in other countries then you could make much greater returns elsewhere.
Regards,
Magic
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09-08-08 15:13 #645
Posts: 56Originally Posted by Exec Talent
With the greatest of respect I would like to know why making 100K US profit is not a good investment for this person.
I am trying to learn as much as I can about Brazil and from your comment but I would appreciate more information to understand your statement please.
Many thanks,
Magic