Wednesday, September 11, 2013

Incra authorizes acquisition of land by foreigners

9.11.2013 | 8:58 a.m
Subject: AgricultureAgribusinessCountryPolicyAgrarian Question
Incra authorizes acquisition of land by foreigners
Lands are located in the states of Goiás, Mato Grosso and Minas Gerais
Property in Mato Grosso is intended for grain production

Incra Ordinances published in the Official Gazette of last Monday, the 9th, authorize the acquisition by foreigners, three rural areas in the country. The properties are located in the states of Goiás, Mato Grosso and Minas Gerais. 

The authorization requirements were approved by the board of the municipality at the last regular meeting of the joint committee on August 23. These are the first approvals for the purchase of land after the entry into force of Instruction Joint (INC) No. 1 - ministries Agrarian Development (MDA), Agriculture, Livestock and Supply (MAPA), Development, Industry and Foreign Trade (MDIC) and Tourism, and the Incra. 

Published in September 2012, the INC regulates procedures for the acquisition and leasing of land by foreigners and brings one of the main settings the elements to be included in called Project Exploration. Expected in Law No. 5.909/71, but until then, without normalization, Project Exploration is necessary in case of purchase or lease, for foreign individual, area over 20 exploration modules indefinite (MEI). 

The size of the MEI varies from five to 70 ha, according to the county location of the property. When it comes to foreign legal entity or a Brazilian entity treated as a foreign project presentation independent of the size of the area. 

This is the case of two entrances authorization published. In Goiás, the MIH Finance Ltda. - Brazilian company treated as a foreign legal entity, with 99.99% equity New Zealand - had approval to acquire Fazenda Bom Sucesso I, II, III and IV, located in the city of Crisallina.

 The property is 854.75 hectares (equivalent to 85.47 MEI) and as the project - appreciated by the Superintendency for the Development of the Midwest (Sudeco) and approved by the Ministry of Agriculture, Livestock and Supply (MAPA) - behave activity dairy farming.

 SB Agrícola Ltda., the majority of capital owned company incorporated under the laws of U.S. states, was authorized to obtain part of Fazenda Rio Norte, located in the municipalities of Porto dos Gauchos and Itanhangá in Mato Grosso. The project presented for 2194.0448 hectares to be acquired (a total of 4300 ha) was approved by the Map and refers to grain cultivation. 

Another area to be obtained by foreigners, through a consortium, is undivided Farm Santa Adelaide, property Fazenda Terra Mater, in the municipality of São Gonçalo do Sapucai, and Minas Gerais.

 The area of 112.8389 hectares, equivalent to 7.52 MEI. The two parties have Chilean nationality. authorizations are valid for 30 days so that it provided the drafting of the deed, and another 15 days for the registration of the property in the district housing authority. Purchases are monitored by the National Acquisition and Leasing Land by Foreigners (Sisnate), integrated into the National Register of Rural Property (SNCR),  Incra base under management contained in the entire Brazilian agrarian structure declared by the owners and has 5.8 million registered properties.