1. Is the infrastructure for the Villa Condominium complete?
Infrastructure works (land movement, roads, surface water and sewerage works, electricity, water supply, and telecommunications) have already been completed.
2. Is buying real estate in Brazil a simple process?
Buying real estate in Brazil is relatively straightforward. Real estate can be purchased by an individual or company (Brazilian or foreigner). Buyers need to obtain a registration (CPF) with the Brazilian authorities which is a simple process. Enseada assists buyers throughout the purchase process through our dedicated after sales team in Brazil and Dubai.
3. When will the construction of my Villa start?
Enseada will commence construction once the Buyer completes the purchase process and pays the initial deposit.
4. How is my investment safe pending transfer of title deed on completion of the villa?
On payment of the initial deposit, a Promise to Sell Contract will be filed with the Land Registry. This will ensure that your land cannot be sold or otherwise be dealt with (eg cannot be the subject of a mortgage charge) until such time as your villa is completed and title is formally transferred to you.
5. Is the whole development including rental properties run by the Hotel?
The Hotel group only runs the hotel and the hotel residences.
6. Who manages the letting of the villas and apartments?
The owner determines who manages the letting of his villa or apartment. Owners have the option of engaging Enseada or an independent local estate agent.
7. What are the estimated service charges for villas?
The estimated service charges for each villa is USD 3,000 per annum. This covers on-going maintenance costs plus a Sinking fund charge. On-going maintenance costs include costs relating to the administration of the Villa Condominium and the Residence Association, provision of Security services, Gardening, Cleaning, Electricity and Water consumption for common areas. The Sinking Fund charge is an annual payment that will be held in reserve to be deployed at the discretion of the Residence Association for replacing major items of infrastructure.
8. What is the likely profile of residents at Rio Hills?
Residents are likely to be tourists from Brazil and overseas, senior executives from the surrounding area employed in the oil sector and elsewhere and high net worth families from downtown Rio de Janeiro.
9. What is the nature of title for the property?
The property is held on a freehold title.
10. Who is taking care of the legal process for acquiring the property?
DHBC Advogados is engaged to provide legal services to clients of Enseada.
11. What service charges are to be paid to the hotel?
There are no charges payable to the hotel by the villa owners or residents of the Apartment Condominium.
12. What are the associated additional costs of buying a villa?
Completion costs associated with registration of title with Land Registry, transfer taxes and associated legal costs are estimated at 5% of the purchase price.
13. What are the expected rental management costs?
Enseada will charge 10% of rental income for sourcing tenants and managing the property whilst rented.
14. What currency will be used for the purchase (ie instalment payments, transfer costs etc) and rental income?
Instalment payments for the purchase of the property are in USD, transfer costs are in Brazilian Real and rental income is in USD.
15. What is the estimated completion date for the hotel?
Completion is scheduled for March 2018.
16. When will the Club House and leisure facilities be completed?
The completion of Club House construction and leisure facilities is in progress and is expected to be completed by 31 December 2015.
17. What amenities, facilities and leisure activities are in close proximity to Rio Hills?
Rio Hills has a frontage of over 300 meters on Lake Guarapine (spans 4.3 Km wide and 2.3 Km across). The lake which is connected to the the sea by a canal provides a superb environment for water sports, fishing and other leisure pursuits. The sea with its fantastic beach is just over 2 km across from Rio Hills (3km by road). A Marina is planned in Lake Guarapine located a few hundred meters from the Rio Hills waterfront.
Maricá has abundant natural resources coupled with several beaches making the area an ideal location for eco tourism: Recanto de Itaipuaçu, Itaipuaçu, Frânces, Zacarias, Barra, Guaratiba, Ponta Negra – with it's historic Lighthouse - Sacristia and Jaconé plus several lakes.
Maricá attracts tourists with its natural and cultural patrimony sites, which provide breathtaking views and opportunities for adventure sports including rock climbing and rappelling. The Elephant Stone, at the Parque Estadual da Serra Tiririca, which is 412 meters high, provides visitors with panoramic views of the the ocean beaches of Maricá, Niterói, Pão de Açucar, Corcovado and Copacabana. Other sites include the Itaocaia Stone, the Monkey Stone and its surroundings, the Silvado Stone and the Serra do Camburi, which is 890 meters high and features magnificent waterfalls and trails.
There are supermarkets nearby as well as a completed ninehole golf course which is currently under expansion, an equestrian centre, waterfalls, executive airport and a Heliport. Rio Hills Apartments Condo will have 6 commercial units including a mini market for the convenience of all residents. Local buses frequently provide transport to Downtown Rio and the surrounding area. The nearest hospital is 10km away in the nearby town of Maricá. Downtown Rio is home to Internationally Accredited schools, both English and American.
18. What is the surrounding area like?
Rio Hills is located in the stunning Lakes Region surrounded by beaches and natural beauty. It is within striking distance of downtown Rio de Janeiro.
19. What size are the Villa private pools?
The actual pool size will be at the discretion of buyer; however the proposed pool size is 2.8m x 7.06m.
20. Can I build any style of villa on any plot?
The investor can certainly choose the type of villa that he wants from the options provided by our architects. Our architect team will be available to carry out modest modifications to the chosen design at the request of a buyer for a modest fee.
21. What are the annual taxes for owning a villa?
The annual cost of owning a villa, aside from condominium fees, is a tax known as IPTU and varies from 0.6% to 1.2 %, depending on the area of the land/villa, and is calculated on the value of the property which is determined by the municipal authorities.
22. How much are capital gains taxes on resale?
The proceeds of the sale shall be subject to a withholding tax of 15% applicable to the capital gain achieved by the seller. If the owner is domiciled in a tax haven the rate is increased to 25%. The capital gain is calculated as the sales price less the cost of acquisition.
If the property was subject to repairs, improvement, or construction, the cost of construction is added to the cost of acquisition for purposes of calculating the capital gain.
23. What are the taxes on rental income of a completed villa?
Whenever an individual or an entity domiciled or headquartered outside Brazil, owns an urban real estate property which is located in Brazil, and receives rent through wire transfers originating from Brazil to abroad, transfers shall be subject to a withholding of income tax at the rate of 15%, unless the foreign owner is domiciled in a tax haven, in which case the income tax rate is increased to 25%.
24. Do you have a resource to manage the tax affairs of sale and Brazilian tax returns?
We have arranged for Apex Accountants, which is a firm of accountants registered in Rio De Janeiro, to provide this service for a modest fee.