loop:
Redpin, a property software firm, is launching Currencies Direct in Brazil to facilitate investments in Portuguese property.
This initiative addresses the significant property-related foreign exchange flows from Brazil to Portugal. Brazilian nationals represented 15% of real estate sales in Portugal in 2023 and contribute to the growth of the existing Brazilian community of 250,000 to 500,000 residents in Portugal.
The new service aims to support real estate agents and legal professionals in Portugal who assist Brazilian nationals with international property purchases, as well as Brazilian clients seeking to buy property in Portugal or send funds internationally.
Currencies Direct will offer competitive BRL-EUR exchange rates, no transfer fees, and high BRL transfer limits for these clients. Expert guidance on transaction timing will also be provided. The service will be delivered in Brazilian Portuguese.
Currencies Direct already has a substantial presence in Portugal, with four offices and partnerships with approximately 122 real estate partners, many of whom serve Brazilian clients. These partners will now be able to offer Currencies Direct services to their Brazilian clients.
Initially, partners and clients will be supported by Brazilian-Portuguese speaking staff from Redpin’s global offices, which include over 35 locations and more than 800 employees. A dedicated office in Brazil is planned for the future.
Rubem Galvâo, sales manager at Currencies Direct, noted the strong historical ties between Brazil and Portugal and the significant Brazilian investment in Portuguese real estate. According to the Luso-Brazilian Chamber of Commerce and Industry (CCILB), investment from Brazil in Portugal is projected to increase by 50% over the next three years.
Redpin’s goal is to collaborate with 50,000 real estate professionals across 10,000 licensed agencies.
