How to Bring Your Money into Brazil to Buy: CPF, Câmbio and Capital Registration

A foreigner can buy a property in Florianópolis without living in Brazil, without a visa, and without ever having set foot in the country. Ownership is not restricted (barring special cases such as rural land or border zones, which don't apply to urban property). What does require care is the path the money takes: if the funds enter through the correct formal channel, the purchase is fully protected and — crucially — you keep the right to take that capital and its income out of the country later. Here's the route.

First step: the non-resident's CPF

The CPF (Cadastro de Pessoas Físicas) is the Brazilian taxpayer number, and it is mandatory for any property buyer, whether or not they live in the country. A non-resident obtains it one of three ways: at a Brazilian consulate or embassy abroad, through the Receita Federal's online portal, or via a Brazilian lawyer holding power of attorney. The consular route tends to be the most reliable. Two caveats: since 2025, a non-resident's CPF with a domicile outside Brazil requires an annual update ("recadastramento"), and holding a CPF does not create tax residency or migratory status — these are separate things.

The heart of the deal: the câmbio (FX) contract

The funds for the purchase must be converted to reais through a bank or authorized exchange institution in Brazil, by means of a câmbio (FX) contract carrying the purpose code corresponding to the property acquisition. The bank records that inflow with the Central Bank. This is the point many underestimate: it is that contract that documents the lawful entry of the capital and, later on, what allows you to repatriate the principal and remit the income abroad without friction. Informal or "off-the-books" transfers compromise precisely that capacity and can trigger scrutiny over the origin of the funds.

The legal framework, in plain terms

Since 31 December 2022, Brazil's new FX framework has been in force: Law No. 14.286/2021, regulated by Resolution BCB No. 278/2022, which modernizes the treatment of foreign capital and renamed the registration systems (the old RDE-IED became SCE-IED). One nuance that saves confusion: the direct purchase of a property by an individual is not considered "foreign direct investment", so it does not require RDE-IED/SCE-IED registration with the Central Bank. That registration only comes into play if you invest through a Brazilian company (an FDI structure), a case that is triggered from US$ 100,000. For a direct purchase, the câmbio (FX) contract is enough.

Taking the money out: repatriation and income

With the capital documented, the framework in force allows you to remit funds abroad with no limits on amount or frequency, and non-residents can now open and operate real-denominated accounts in Brazil on terms equivalent to a resident's. On non-resident taxes: the capital gain on a sale is taxed progressively from 15% (up to R$ 5 million in gains; most transactions fall within that band), and rental income carries a withholding at source of 15% (rising to 25% if the recipient is domiciled in a low-tax jurisdiction).

The case of Russian buyers

It's worth stating clearly and neutrally: a Russian citizen can buy a property in Brazil under the same conditions as any foreigner. The legality of a transaction depends on whether the person appears on specific sanctions lists, not on their nationality. The real friction lies not in Brazilian real-estate law but in banking compliance: restrictions on correspondent banking and SWIFT mean many Russians must channel funds through a non-sanctioned bank in their current country of residence, with full documentation of the money's origin. None of this is a shortcut or a way to evade sanctions — on the contrary, it is how you operate transparently and traceably.

A note on the IOF

The inbound currency conversion is subject to the IOF (tax on financial operations). During 2025 its rate was the subject of a sharp regulatory dispute among decrees, Congress and the STF, so the rate applicable to a specific inflow must be confirmed with the bank at the time you transact; it's wise not to treat any figure as fixed. What was established is a 0% IOF on the return/repatriation of foreign capital. As always, the last word rests with the bank and a tax accountant or lawyer.

Sources

• Receita Federal do Brasil — the non-resident's CPF and annual update; taxation of non-resident income and gains.
• Banco Central do Brasil — FX framework, câmbio (FX) contract and SCE-IED registration (formerly RDE-IED); the US$ 100,000 threshold for FDI.
• Lei n.º 14.286/2021 (Novo Marco Cambial) and Resolução BCB n.º 278/2022.
• Guides from Brazilian law firms (Alves Jacob, ZS Advogados, Oliveira Lawyers) on direct purchase without RDE-IED registration and on the Russian buyer.
• Reports from EY, Mayer Brown, Demarest and others on the 2025 IOF-Câmbio dispute (Decrees 12.466/12.467/12.499 and STF action).