Restrictions on the ownership of Brazilian rural real estate property by foreigners

Historical background Since 1971, the acquisition of rural estate properties by foreigners in Brazil is ruled by Federal Law No 5.709/71, and its regulatory Decree No 74.965/74 (‘Law 5.709’).According to such legislation, the acquisition of rural property by a foreign individual domiciled in the country (‘foreign individual’) and a foreign company authorised to act in Brazil (‘branch’) is not prohibited but merely limited to certain caps described in the law. The restrictions also applied to Brazilian…
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