Brazil’s Supreme Court upholds law limiting land purchases by foreign companies.

The Brazilian Supreme Court (STF) decided this Thursday (23) to uphold the rules that limited the purchase of rural properties by companies with foreign capital in the country, according to a note from "Agência Brasil". The Court validated Law 5.709 of 1971, a regulation that governed the matter and defined that foreigners residing in the country and foreign companies authorized to operate in Brazil must follow rules for land acquisitions. The law imposed several restrictions, such as a maximum purchase of 50 exploration modules, prior authorization for acquisitions in national security areas, and registration with the National Institute for Colonization and Agrarian Reform (Incra). Its constitutionality was questioned in the Court by entities linked to agribusiness. According to the allegations, filed in 2015, the law harms national companies with foreign capital by limiting the purchase of land in the country. The trial began in 2021 and was finalized in this Thursday's session. By unanimous vote, the plenary followed the opinion delivered by the case's rapporteur, former Justice Marco Aurélio (retired), who voted in favor of the constitutionality of the law. The rapporteur cited that the restrictions are necessary to maintain national sovereignty and the country's independence. The arguments were validated by the other justices. :: AGU The Attorney General's Office (AGU) acted in the case as the representative of the federal government. The agency argued that the law serves to protect national sovereignty and prevent land speculation in the country.

This text was translated by machine from Brazilian Portuguese.