Assets in Brazil for Those Living in Portugal

The sale of a property in Brazil is governed by Brazilian law, wherever the owner lives. Moving to Portugal does not change the form of the transaction, but it changes the way you sign and, above all, the taxation.

Public deed

For properties worth more than thirty minimum wages, a public deed (escritura pública) is essential to the validity of the sale (Art. 108 of the Civil Code). Ownership only passes to the buyer when the deed is registered with the Real Estate Registry (Registro de Imóveis).

How to sign without traveling to Brazil

• Through an attorney-in-fact: the power of attorney must take the form required for the transaction, that is, a public power of attorney when the sale requires a deed, and must grant special and express powers to sell (Arts. 657 and 661, § 1, of the Civil Code). See below how to execute this power of attorney in Portugal.
• By videoconference: e-Notariado allows deeds to be executed remotely, by videoconference and digital signature. Jurisdiction lies with the notary of the district where the property is located or where the buyer is domiciled (Art. 302 of the CNJ National Code of Rules, CNJ Provision 149/2023).

Spouse and CPF

• Except under the regime of absolute separation of property, the sale of real estate requires the spouse's consent (Art. 1,647, I, of the Civil Code). If the marriage has ties to both countries, the property regime should be confirmed before the deed. See the page on marriage and matrimonial property regimes.
• A non-resident who owns real estate, accounts or equity interests in Brazil is required to have a CPF (Art. 5 of SRF Normative Instruction 208/2002).

For those who plan to buy in Portugal, the page on buying and selling real estate in Portugal covers the Portuguese documents and taxes.

When a person becomes a non-resident

For the Receita Federal, anyone who leaves Brazil permanently becomes a non-resident on the date of departure. Anyone who leaves temporarily remains a resident for the first twelve consecutive months of absence and becomes a non-resident from the following day (Arts. 2 and 3 of SRF Normative Instruction 208/2002). Departure is formalized through the Notice of Definitive Departure and the Definitive Departure Tax Return (Arts. 9, 11 and 11-A).

The applicable rule

• Capital gains of residents abroad are calculated and taxed under the rules applicable to residents (Art. 18 of Law 9,249/1995). This is the provision that applies to the sale of property in Brazil by someone living in Portugal.
• Rates are progressive: 15% on the portion of the gain up to R$5 million, 17.5% up to R$10 million, 20% up to R$30 million and 22.5% above that (Art. 21 of Law 8,981/1995, as amended by Law 13,259/2016). The Receita Federal applies this table to non-residents (IRPF 2026 Questions and Answers, questions 129 and 655).
• The gain is the difference between the sale price and the acquisition cost, which must be supported by adequate documentation. Without such proof, the cost is deemed to be zero (Art. 26, §§ 1, 3 and 4, of SRF Normative Instruction 208/2002).
• Exemptions and reductions available to residents do not apply to non-residents (Art. 26, § 5). Benefits such as those for a sole property or for reinvestment in another residential property are therefore left out of the calculation.

Withholding by the buyer or the attorney-in-fact

Under Art. 26 of Law 10,833/2003, a buyer resident in Brazil is responsible for withholding and paying the tax. If the buyer also lives abroad, the responsibility lies with the buyer's attorney-in-fact. SRF Normative Instruction 208/2002 also provides that the tax is to be paid by the seller or the seller's attorney-in-fact on the date of the sale (Art. 27). According to the Receita Federal, payment is due on the date of the sale, under revenue code 0473 (question 655).

And in Portugal?

The Brazil–Portugal double taxation convention allows Brazil to tax the gain on the sale of property located in Brazil (Art. 13) and requires the country of residence to deduct the tax paid in the other State, up to the amount of its own tax on that income (Art. 23). How to report this gain in Portugal must be assessed case by case.

Foreign exchange transactions may be carried out freely, with no limit on the amount, but only through institutions authorized by the Central Bank, which are responsible for identifying the client and for the lawfulness of the transaction (Arts. 2 to 4 of Law 14,286/2021). Classifying the purpose of the remittance is the client's responsibility (Art. 4, § 2).

The remittance itself is not a new taxable event for income tax purposes. What is taxed is the capital gain on the sale, which must already have been paid when the funds are sent (IRPF 2026 Questions and Answers, question 314).

• Before the remittance, it is advisable to gather the registered deed, the capital gains calculation and the proof of tax payment.
• The bank in Portugal may also ask for the source of funds; the documentation of the sale in Brazil serves that purpose.
• If the funds remain in an account in Brazil, the income they generate follows the specific rules for non-residents.

Inventory proceedings take place in Brazil

Estate inventory proceedings and partition of assets located in Brazil fall within the exclusive jurisdiction of the Brazilian courts, even if the deceased lived outside the country (Art. 23, II, of the CPC). The proceedings must be opened within two months of the death (Art. 611). An inventory deed executed in Brazil cannot include assets abroad (Art. 29 of CNJ Resolution 35/2007). Assets in Portugal follow the declaration of heirs and partition in Portugal.

Public deed with an heir abroad

• If all heirs have legal capacity and are in agreement, the inventory can be carried out by public deed, with a lawyer (Art. 610, §§ 1 and 2, of the CPC).
• An heir who lives in Portugal can be represented under a public power of attorney with special powers (Art. 12 of CNJ Resolution 35/2007). The choice of notary is free (Art. 1).
• Since CNJ Resolution 571/2024, the out-of-court route is also allowed where there is a minor or legally incapacitated heir, with a favorable opinion from the Public Prosecutor's Office (Art. 12-A), and where there is a will, after it has been opened and with court authorization (Art. 12-B).

ITCMD: which State collects it

Complementary Law 227/2026 (Lei Complementar) defines which State has taxing authority when there is a foreign element:

• Real estate in Brazil: the State where the property is located, even if the deceased lived abroad (Art. 158, I).
• Movable property, investments and equity interests: if the deceased was domiciled abroad, the State of the heir's domicile; if the heir also lives abroad, the State where the assets are located (Art. 159, I, b, and III).

The rate and the method of collection depend on each State's law.

For the overall picture, see the pages on estate inventory proceedings, international succession and wills.

A lifetime gift is a way of organizing the transfer of assets while the owner is still alive. In Brazil, it follows these rules:

• Form: a gift is made by public deed or private instrument (Art. 541 of the Civil Code); for real estate worth more than thirty minimum wages, a public deed is mandatory (Art. 108).
• Advance on the forced share: a gift from parents to children, or from one spouse to the other, constitutes an advance on what they are entitled to inherit (Art. 544) and is subject to collation (Art. 2,002), unless the donor provides that it is to come out of the disposable portion, without exceeding it (Art. 2,005).
• Limit: a gift is void to the extent that it exceeds what the donor could have disposed of by will at the time of the gift (Art. 549).
• Usufruct: the donor may reserve the usufruct of the gifted property; usufruct over real estate is created by registration with the Real Estate Registry (Art. 1,391).
• Spouse: a gift of community property, or of property that may form part of a future half share of the marital property (meação), requires the other spouse's consent, except under absolute separation of property (Art. 1,647, IV).

ITCMD on gifts

On a gift of real estate in Brazil, the tax is due to the State where the property is located, even if the donor lives abroad. For movable property, if the donor is domiciled abroad, the State of the donee's domicile has taxing authority (Arts. 158, I, and 159, II, b, of Complementary Law 227/2026).

A gift made today will count toward the forced share under the law that ends up governing the succession, which may be Portuguese law for someone living in Portugal. For this reason, gifts and wills should be planned together.

Power of attorney executed in Portugal for use in Brazil

• At the Brazilian consulate: Brazilian consular authorities are competent to perform notarial acts for Brazilians (Art. 18 of the LINDB). A consular power of attorney is a Brazilian act and requires no apostille or legalization (Decree 8,742/2016, Art. 1, § 1). For more details, see powers of attorney between Brazil and Portugal.
• Before a Portuguese notary: a public power of attorney executed at a Portuguese notary's office is a foreign public document. Brazil and Portugal are parties to the Apostille Convention, and the only formality that may be required to certify the authenticity of the signature and the capacity of the notary is the apostille, issued in Portugal (Art. 3 of the Convention, promulgated by Decree 8,660/2016).
• Translation: the Public Registries Law requires translation of documents written in a foreign language (Art. 148 of Law 6,015/1973). A power of attorney drawn up in Portuguese does not need translation.
• Registration with the Registry of Deeds and Documents (Registro de Títulos e Documentos): the same law provides for registration of documents of foreign origin so that they take effect before public offices and in court (Art. 129, item 6). Before using the power of attorney, it is advisable to confirm with the Brazilian notary's office whether this registration will be required.
• Electronic power of attorney: a public power of attorney can be executed through e-Notariado, by videoconference, before the notary of the grantor's domicile or of the place where the property is located (Art. 303, sole paragraph, of CNJ Provision 149/2023).

Power of attorney executed in Brazil for use in Portugal

• For notarial acts in Portugal, the power of attorney may be executed as a public instrument, as a signed document with in-person certification of the handwriting and signature, or as an authenticated document (Art. 116 of the Notarial Code (Código do Notariado)).
• Documents issued abroad in accordance with local law are accepted without prior legalization, which may only be required where there are well-founded doubts about their authenticity (Art. 44). The apostille, issued by an authorized Brazilian notary's office, removes those doubts.
• Only documents in a foreign language need translation (Art. 44(3)); a Brazilian power of attorney, in Portuguese, does not.

In any case, the power of attorney must describe the assets and the acts precisely: selling, receiving the price, giving a receipt and discharge, signing the deed, paying taxes, representing the grantor in inventory proceedings or operating accounts.

Rent and other income in Brazil

• Rent from property in Brazil received by someone living in Portugal is taxed exclusively at source, at a rate of 15%, and the attorney-in-fact is responsible for withholding and paying the tax (IRPF 2026 Questions and Answers, question 208; Art. 42 of SRF Normative Instruction 208/2002).
• A non-resident must notify paying sources of this status in writing so that they withhold correctly (Art. 3, § 2, of SRF Normative Instruction 208/2002). The Receita Federal recommends notifying banks, brokerage firms, tenants, fund managers and platforms (question 126).
• A person who becomes a non-resident cannot keep a business registered as an individual microentrepreneur (MEI), and companies with a non-resident partner or manager cannot remain in the Simples Nacional regime (question 126).

Definitive departure and CPF status

• The Notice of Definitive Departure (Comunicação de Saída Definitiva do País) must be filed by the last day of February of the year following the departure (Art. 11-A of SRF Normative Instruction 208/2002). The Definitive Departure Tax Return (Declaração de Saída Definitiva) follows the deadline for the annual return; in 2026, that deadline was extended to May 29 (Art. 11, § 9).
• According to the Receita Federal, anyone who has filed neither of the two may still file the Definitive Departure Tax Return, with a penalty, as long as five years have not elapsed from the tax year following the departure. After that, regularization is done only in the CPF, by email to the Receita Federal, with an identity document, a photo holding the document, a registration form, proof of residence abroad and a statement of the departure date (question 126; see also the page Taxation of non-residents).
• CPF registration for people living abroad is free of charge and can be requested by email to the Receita Federal or at a consular post (gov.br).

Bank accounts

Checking accounts and investments in Brazil are among the assets that make a CPF mandatory for non-residents (Art. 5 of SRF Normative Instruction 208/2002). To operate them from Portugal, the most practical option is usually a power of attorney with specific powers for each bank, in addition to the account holder's own digital access.

With lawyers in São Paulo and Albufeira, Sene & Araújo assists people who live in Portugal and need to deal with assets in Brazil.

1. Initial assessment: assets in Brazil, resident or non-resident status, CPF status, matrimonial property regime and heirs.
2. Powers of attorney: drafting with the necessary powers and guidance on where to execute them: before a Portuguese notary with an apostille, at the consulate or through e-Notariado.
3. Sale of real estate: review of the documentation, calculation of the capital gain, follow-up on the deed and registration, and guidance on the remittance.
4. Inheritance: estate inventory proceedings in court or before a notary in Brazil, ITCMD and coordination with the declaration of heirs in Portugal.
5. Planning: gifts, usufruct and wills, in light of the law that will govern the international succession.
6. Regularization: definitive departure, CPF and notices to paying sources.

Each case begins with a review of the documents. Based on it, we set out the steps, the timeframes and the foreseeable costs of each stage.