MercoPress. South Atlantic News Agency
Brazilian senate approves bill facilitating purchase of rural properties by foreign companies
The Brazilian Senate unexpectedly approved a bill this week to facilitate the purchase and leasing of rural properties in Brazil by foreign nationals or foreign companies. The legislation must be approved by the lower house of Congress before the president can sign it into law. Read full article
Comments
Disclaimer & comment rulesWhere can one read a transcript of this bill? Does it include the removal of prohibition against foreign ownership of coastline property?
Dec 19th, 2020 - 10:37 am - Link - Report abuse 0FortHay
Dec 19th, 2020 - 03:41 pm - Link - Report abuse 0Made a brief search, did not find the actual text of “Projeto de Lei 2.963/2019”, but by what I gather (having read very little about it, and hearing even less on the news), the project refers to rural property, with the (main) objective of boosting agricultural production, and making the land fulfill its social function (as defined in the Constitution - and this can probably mean whatever the politicians want it to).
As far as large tracts of land in coastline areas are concerned, believe they are excluded from the project, given that it specifically mentions the exclusion of frontier /border areas, plus the fact that some coastal areas might be considered strategic by the Navy, and in these cases, their occupation would need to be authorized by the Navy.
On the other hand, have never seen, or heard of any restrictions to buy small plots of land near, or on beaches, for personal use, unless they are inside permanent preservation areas....and which have nothing to do with the project.
I Think..., Yank Mr. FortHay is confounding Brasil with Mexico...
Dec 20th, 2020 - 11:15 pm - Link - Report abuse +1Not at all unusual for his kind...
Capisce...?
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!