RIO DE JANEIRO, BRAZIL - According to the one company's CEO, rural land deals have not yet materialized due to the obstacles established by law 5,709 from 1971, which restricts the size of areas that can be purchased by foreigners. This may change, however.
On Tuesday, December 15th, the Senate passed a bill that changes the rules for the sale of land to foreigners, whether individuals or companies. Consultants believe that the market will heat up considerably should the bill be passed by the Chamber of Deputies and sanctioned by President Jair Bolsonaro.
"There are many investment groups waiting . . .
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