Bringing money from abroad to buy property in Brazil requires a foreign exchange operation within the financial system regulated by the Central Bank of Brazil—and choosing the wrong channel can cost more than R$ 20,000 in a transaction of R$ 800,000.
This guide consolidates the official data you need: real cost comparison across channels, IOF updated after 2025 Decrees, the document the notary will require at the deed, and when registration at the Central Bank is mandatory. Everything based on primary sources—BCB, Presidency, and Ministry of Finance.
If you’ve reached this point looking to buy a property in Florianópolis with resources from abroad, the process has five stages: choose the foreign exchange channel, contract the operation, receive the foreign exchange contract, close the purchase, and register at the Central Bank when necessary. Each of these stages has financial and documentary implications that this guide details.
Which channel is cheapest to bring money from abroad—and the difference can exceed R$ 20,000
Bringing money from abroad to buy property in Brazil begins with a financial decision that most buyers underestimate: the choice of foreign exchange channel. The Central Bank of Brazil provides the Total Effective Value (VET)—the official metric that includes exchange rate, IOF, and fees in a single number. Institutions are required by law to disclose the VET before contracting. Demanding it is the first step of any serious analysis.
The Central Bank also publishes the VET Ranking on its portal (bcb.gov.br/rex/vet), where you can consult the actual cost history by institution. According to Central Bank Special Study No. 48—”Spread in the foreign exchange market”—the spread difference between specialized brokers and traditional banks is significant: brokers intermediating operations practice a historical average spread of ~0.13%, while direct banks reach ~0.70% average spread.
Combined with the IOF of 0.38% (fixed on all inbound operations, regardless of channel), the total cost varies significantly depending on the channel chosen.
Specialized foreign exchange broker for real estate
It is the most suitable channel for higher-value property purchases. Issues the foreign exchange contract in the format required by the notary, advises on SCE-IED registration when necessary, and practices the lowest spreads in the market. The process happens in a single operation, which simplifies documentation.
For operations of R$ 800,000, the estimated total cost is between R$ 5,440 and R$ 7,200 (0.68%–0.90%). Regente Imóveis works with a partner specialized in foreign exchange for real estate operations in Florianópolis—with conditions specific to this market, available via the form at the end of this guide.
Fintechs (Wise and similar): good for amounts up to R$ 250 thousand per operation
Wise and similar fintechs offer competitive spreads (0.4%–0.7%) and a simplified digital process. The limit per transfer for personal account in Brazil is R$ 250,000 per operation, according to Wise’s official information for the Brazilian market.
For a property of R$ 800,000, at least three or four separate transfers would be necessary. Each operation generates a separate foreign exchange contract, which can complicate documentation with the notary. Consult the local notary’s office before opting for this structure for higher-value properties.
Digital bank
Digital banks such as C6 and similar offer convenience and fully online processing, with spreads that the Central Bank estimates between 0.8% and 1.5% for foreign exchange operations. Per-operation limits vary by institution. For higher-value operations, such as typical ones in Florianópolis, the higher spread represents significant additional cost compared to a specialized broker.
Traditional bank with SWIFT: most familiar, but most expensive
Traditional banks are accepted by all notaries and offer the most familiar process, via SWIFT. The cost, however, is the highest: historical spread of 2.0% to 3.0% (BCB Study No. 48), plus the SWIFT fee (estimate: USD 25–50 per transfer) and IOF of 0.38%.
Comparison table—transaction equivalent to R$ 800,000
| Channel | Estimated spread | Inbound IOF | Estimated total cost | % of R$ 800k | Critical observation |
|---|---|---|---|---|---|
| Specialized broker | 0.30–0.50% | 0.38% | R$ 5,440–7,200 | 0.68–0.90% | One operation; issues contract for notary; advises on SCE-IED |
| Wise / fintech | 0.40–0.70% | 0.38% | R$ 6,240–8,640 | 0.78–1.08% | Limit R$ 250k/op—requires 3–4 transfers for R$ 800k |
| Digital bank | 0.80–1.50% | 0.38% | R$ 9,440–15,040 | 1.18–1.88% | Variable limits by institution |
| Traditional bank (SWIFT) | 2.00–3.00% | 0.38% | R$ 19,175–27,540 | 2.40–3.44% | Most accepted; slowest process; highest cost |
Spreads based on Central Bank Special Study No. 48 and historical VET Ranking (bcb.gov.br/rex/vet). Exact VET varies by date and institution—request in writing before contracting.
The foreign exchange contract: the document the notary requires to execute the deed
The foreign exchange contract is the document that formalizes the legal conversion of foreign currency into Brazilian reais. It records currency, amount, applied rate, VET, purpose of the operation, and identification of the parties.
The property recording notary requires the foreign exchange contract to execute the public deed of purchase and sale. The reason is proof of the legal origin of resources—a requirement that stems from Law 9.613/1998 (prevention of money laundering) and the Central Bank’s foreign exchange norms.
The obligation of a formal foreign exchange contract applies to operations above USD 10,000, according to the Regulation of the Foreign Exchange and International Capitals Market (RMCCI), Title 1, Chapter 3.
The document must contain, according to Central Bank Resolution No. 277/2022—regulation of Law 14.286/2021 for the foreign exchange market:
- Complete identification of the buyer and the financial institution
- Foreign currency, amount, and contracted exchange rate
- VET (Total Effective Value)
- Operation nature code according to Resolution 277/2022
- Property data as destination of resources
- Settlement date
For properties purchased with multiple transfers—as in cases where Wise is used—the notary may require presentation of all corresponding contracts for the transfers that make up the total amount. Confirm this requirement with the local notary’s office before structuring the operation in installments.
The foreign exchange broker issues the contract in the correct format for real estate operations. Digital banks and fintechs also issue the document, but guidance on the appropriate nature code—specific for “property acquisition by non-resident”—varies by institution.
See the personal documents necessary for the foreign exchange operation in our complete guide on documents for foreigners buying property in Brazil.
IOF and the costs nobody shows transparently
The Tax on Financial Operations (IOF) applies to foreign exchange operations. For inbound remittances—from abroad to Brazil, which is the case for property purchase—the rate is 0.38% on the value converted to reais.
Decrees No. 12.466/2025 (May 2025) and No. 12.499/2025 (June 2025) altered the IOF for outbound remittances (Brazil → abroad), but preserved the rate of 0.38% for inbound operations by individuals. Any content before May 2025 that confuses these two directions is outdated. The 2025 change affected exclusively those sending money outside Brazil—not those bringing resources in.
Tax base: IOF is levied on the reais value resulting from conversion. In an operation of USD 150,000 converted at the rate of R$ 5.33/USD, the value in reais is R$ 799,500 and IOF = R$ 3,038.
There is no IOF exemption for housing purposes on international remittances. The housing exemption in IOF applies to insurance linked to the Housing Finance System (SFHSFHVer tudo →)—not to inbound foreign exchange. Some real estate portals suggest otherwise, without legal basis.
Complete calculation for R$ 800,000 by channel:
| Channel | IOF (0.38%) | Estimated spread | SWIFT fee | Total cost | Savings vs. traditional bank |
|---|---|---|---|---|---|
| Specialized broker | R$ 3,040 | R$ 2,400–4,000 | — | R$ 5,440–7,040 | up to R$ 20,500 |
| Wise / fintech | R$ 3,040 | R$ 3,200–5,600 | — | R$ 6,240–8,640 | up to R$ 18,400 |
| Digital bank | R$ 3,040 | R$ 6,400–12,000 | — | R$ 9,440–15,040 | up to R$ 12,500 |
| Traditional bank (SWIFT) | R$ 3,040 | R$ 16,000–24,000 | R$ 135–540 | R$ 19,175–27,540 | reference |
When is registration at the Central Bank required (SCE-IED)?
Registration is mandatory when the operation amount is equal to or greater than USD 100,000.
The SCE-IED (Foreign Capital Information Provision System—Direct Foreign Investment) is the Central Bank’s system for declaratory registration of foreign investments in Brazil. It is the successor to the old RDE-IED and covers property acquisition by non-resident when the value exceeds the threshold.
In Florianópolis, where the average property value for the international buyer profile frequently exceeds USD 100,000, SCE-IED is part of the standard process—not an exception.
Registration is done in 6 stages:
- Access the system at bcb.gov.br/ied with gov.br authentication
- Provide the non-resident investor data (CPF, passport, country of residence)
- Include the investment event: type (property acquisition), amount in USD, currency of origin
- Obtain the SCE-IED code generated by the system
- Inform the code to the bank or foreign exchange broker before settlement
- The financial institution registers the SCE-IED code in the foreign exchange contract
For operations below USD 100,000, registration is not mandatory or accepted by the SCE-IED system. The normal foreign exchange operation remains mandatory, as does the foreign exchange contract for the notary.
Consequences of failing to register when mandatory:
- Blocking in the SCE-IED system, preventing future operations with the nature of direct foreign investment
- Administrative sanctioning proceeding initiated by the Central Bank
- Fine according to Central Bank Resolution No. 131/2021
Beyond the immediate regulatory risk, absence of registration complicates future capital repatriation. Without the SCE-IED code registered on entry, it becomes difficult to prove the foreign origin of resources when sending money back abroad after a possible sale.
To understand the complete process of purchasing as a non-resident, see our guide for Brazilian non-residents wanting to buy property in Brazil.
The New Foreign Exchange Law (Law 14.286/2021): what simplified for those buying property
Law No. 14,286, of December 29, 2021, is the current regulatory framework for Brazilian foreign exchange. It consolidated more than 440 articles dispersed in more than 40 norms issued over one hundred years of foreign exchange legislation.
For those buying property with resources from abroad, the practical changes are relevant:
- Free operations: there is no value limit for remittances, respecting the norms of the National Monetary Council and the Central Bank
- Simplified foreign exchange: operations up to USD 50,000 have a more streamlined documentary process
- Above USD 50,000: requires documentation of resource origin (bank statement, income declaration or equivalent from country of origin)
- Contracts preserved: formalization by foreign exchange contract remains mandatory—the Law did not eliminate the document, only simplified the framework around it
- Regulation: the law was regulated by Central Bank Resolution No. 277/2022, in effect since 2023
Law 14.286/2021 also imposed no limit on future capital repatriation. A non-resident who buys property in Brazil can repatriate the amount corresponding to the original investment whenever desired—provided they have documentation of entry (foreign exchange contract + SCE-IED) and comply with tax obligations on any capital gain.
For a complete overview of the rights of foreigners and non-residents in the Brazilian real estate market, consult our guide on foreigners buying property in Florianópolis.
How to repatriate the money after selling the property
Repatriation requires a new foreign exchange operation—this time selling reais for foreign currency. The foreign exchange contract from the original purchase is not reused.
Critical attention: the outbound IOF is not the same as inbound IOF.
Decrees 12.466/2025 and 12.499/2025 raised the rates for outbound remittances (abroad). The outbound rate for capital repatriation is 3.5%—very different from the 0.38% for inbound. In an operation of R$ 800,000, this represents R$ 28,000 just in outbound IOF.
This difference rarely appears in real estate guides, because most available content was produced before the 2025 changes or confuses the two directions of the operation.
Documentation necessary for repatriation:
- Original purchase deed
- Sale deed of the property
- Foreign exchange contract from the inbound operation
- SCE-IED code registered at the Central Bank on entry
- Proof of withholding income tax on capital gain payment, if applicable
On capital gain: if the property was sold for an amount greater than the purchase price, the difference accrued in reais is subject to Income Tax on Capital Gain, with progressive rates of 15% to 22.5%. For non-residents, the withholding is retained at source by the purchaser or the intermediary at the time of sale.
The SCE-IED registered on entry is what facilitates repatriation. It proves the foreign origin of the capital, allowing the financial institution to process the outbound remittance without question. Without this registration, each stage of repatriation requires additional documentation.
There is no legal maximum timeframe for repatriating after the sale. The capital may remain in Brazil indefinitely or be remitted when convenient—respecting normal foreign exchange procedures.
Do I need a foreign exchange contract to buy property in Brazil with money from abroad?
Yes. The foreign exchange contract is a mandatory document to execute the purchase and sale deed at the notary’s office when resources come from abroad.
Above USD 10,000, the formal contract is required by the RMCCI (Regulation of the Foreign Exchange and International Capitals Market) of the Central Bank. The notary uses the document to prove that resources entered Brazil legally and traceable—complying with Law 9.613/1998 for prevention of money laundering.
The contract is issued by the financial institution that conducts the foreign exchange operation—bank, fintech, or broker. It is not possible to conduct the operation “outside” the financial system and then present any other type of proof to the notary.
For purchases in Florianópolis, we recommend confirming with the property recording notary’s office the exact list of required documents before initiating transfers. The requirement for a foreign exchange contract is universal, but the formats accepted and the need to present multiple contracts (in the case of installment transfers) may vary.
If the purchase involves bank financing in Brazil combined with foreign currency entry, see our guide on financing for foreigners and non-residents.
Frequently asked questions—remittance to buy property in Brazil
How do I bring money from abroad to buy property in Brazil?
You need to conduct a foreign exchange operation through a financial institution authorized by the Central Bank—specialized broker, digital bank, fintech, or traditional bank. The process: (1) compare VET among institutions, (2) contract the operation with resource origin documentation, (3) receive the foreign exchange contract, (4) use the contract in the deed at the notary. For operations above USD 100,000, register at the Central Bank’s SCE-IED before settlement.
What is the IOF to bring money from abroad to buy property in Brazil?
The exchange IOF for inbound remittances is 0.38% on the value converted to reais. Decrees 12,466 and 12,499 of 2025 altered the IOF for outbound remittances, but preserved the rate of 0.38% for inbound operations by individuals. On a remittance equivalent to R$ 800,000, inbound IOF is R$ 3,040.
Does Wise work to bring money to buy property in Brazil?
It works for inbound transfers, but has a limit of R$ 250,000 per operation for personal account. For properties above that amount, multiple transfers with separate contracts would be necessary—which can complicate documentation for the notary. For higher-value real estate operations, a specialized broker simplifies the process and frequently has similar total cost.
What is VET and how do I use it to compare foreign exchange?
VET (Total Effective Value) is the Central Bank’s official metric that includes exchange rate, IOF, and fees in a single number expressed in reais per unit of foreign currency. The institution is required to disclose the VET before contracting. Ask all options in writing before deciding. The Central Bank publishes the historical VET Ranking at bcb.gov.br/rex/vet.
When do I need to register at the Central Bank when buying property with resources from abroad?
Registration at SCE-IED is mandatory when the operation amount is equal to or greater than USD 100,000. Below that, it is not mandatory or accepted by the system. Registration is done at the Central Bank’s portal and the generated code must appear on the foreign exchange contract. Absence of registration when mandatory can result in a fine and blocking of future operations.
Is the outbound IOF different from the inbound IOF on repatriation?
Yes, and the difference is significant. Inbound IOF (abroad to Brazil) is 0.38%. Outbound IOF (repatriation, Brazil to abroad) was raised by Decrees 12,466 and 12.499/2025 to 3.5%. On R$ 800,000 repatriated, outbound IOF represents R$ 28,000—a figure that should enter the planning of those evaluating the return on real estate investment in Brazil.
What documents do I need to make the remittance and buy the property?
For the foreign exchange operation: CPF (Brazilians) or CPF plus passport (foreigners), documentation of resource origin (bank statement from country of origin or income declaration), and property data for the contract. For operations above USD 100,000: SCE-IED code. For the notary: foreign exchange contract, updated property registration record, and certifications required by the notary’s office.
Foreign exchange planning as part of wealth management
Buying property in Brazil with resources from abroad does not begin at the signing of the deed. It begins with the choice of the foreign exchange channel and the planning of the operation—including registration at the Central Bank, the documentary structure for the notary, and, if the horizon contemplates a future sale, the impact of the outbound IOF on the investment return.
Regente curates properties in Florianópolis and connects non-resident buyers to a structured end-to-end process. For the foreign exchange stage, we work with a partner specialized in foreign exchange operations for properties—a team with expertise in this market, not a generic fintech.
The partner issues the contract in the correct format for the notary, advises on SCE-IED registration, and offers feasibility analysis before commitment. The form below connects you to this consulting. To learn the available properties, see our property catalog and the guide on the real estate market in Florianópolis for foreigners.
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