On 15 December 2020, the Federal Senate approved Bill 2,963/2019, authored by Senator Irajá Silvestre Filho, which regulates the acquisition, possession, leasing and registration of rural properties in Brazil by foreigners.
The Bill makes the existing rules more flexible, gives legal certainty to acquisitions made under Law 5,709/71, and resolves doubts left by the current legislation, which restricts the acquisition of rural properties by foreigners (individuals and legal entities) and by comparable Brazilian companies.
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