Investing in Brazil: how to obtain a residence permit for individual investors?
Brazil is the ninth-largest economy in the world and the largest market in Latin America with diverse opportunities for investment.
It is possible to obtain a residence permit in Brazil in case of investment in Brazilian companies or in real state located in the Brazilian territory. Check below the eligibility criteria and details for each type of investment:
1. Residence permit based on investment in Brazilian companies (in accordance with the Normative Resolution n. 13/2017 of the Brazilian Council for Immigration)
You can obtain a permanent residence permit in Brazil if you make an investment in an existing or recently created Brazilian company. It is important to note, however, that the investment should be equal to or higher than R$ 500,000.00 (around US$ 100,000 or higher). For very specific segments involving innovation and scientific research, the investment amount can vary between R$ 150,000.00 (around US$ 30,000.00) and R$ 500,000.00 (around US$ 100,000 or higher).
Before applying for the investment visa abroad or requesting the residence permit in Brazil, it is necessary to obtain a preliminary authorization from the Ministry of Labor in Brazil.
In order to request this preliminary authorization from the Brazilian Ministry of Labor in Brazil, several documents are required, but, most importantly, it will be necessary to submit an Investment or Business Plan showing the business potential to generate jobs or income in Brazil.
The Business Plan shall contain information on the originality, scope and impact of the business. It should also indicate the business economic sector and location; a plan for execution and initiation of the business activities; the importance of the investment for the location where it is made and its sector; an employee recruitment plan for the first three years; intended wages to be paid to the employees; a financial plan, among others.
In addition, together with the Business Plan, it will be necessary to submit the proof of the completion of the relevant foreign direct investment through the relevant documents demonstrating the foreign direct investment as registered before the Brazilian Central Bank Information System (Sisbacen) and a copy of the relevant currency exchange contract issued by the receiving bank.
After obtaining the relevant preliminary authorization from the Brazilian Ministry of Labor, the individual investor can request the residence visa before the Brazilian embassy/consulate from his/her country of origin or request the residence permit before the immigration authorities in Brazil if he/she is already inside Brazil.
2 – Residence permit for investing in real state in Brazil (in accordance with Normative Resolution n. 36/2018 of the Brazilian Council for Immigration)
It is also possible to obtain a temporary residence permit in Brazil if you invest in real state located in the Brazilian territory. Differently from the residence permit for investing in Brazilian companies, the residence permit based on real state investment provides the investor with only a two-year residence permit and not a permanent residence permit. However, after the expiry of the two-year period, the investor can request the conversion of his/her temporary permit to a permanent permit.
In order to obtain a residence permit based on real state investment, it is necessary to acquire real state in Brazilian urban areas amounting to R$ 1,000,000.00 (around US$ 200,000.00) or more. Note that it is possible to acquire more than one property totaling R$ 1,000,000.00 (around US$ 200,000.00). If the investor wishes to acquire properties in North or Northeast Brazil, the required minimum investment amount is reduced to R$ 700,000.00 (around US$ 140,000.00).
The process for requesting this residence permit also requires a preliminary authorization from the Brazilian Ministry of Labor where the investor shall present documents proving the acquisition of properties with foreign funds in accordance with the required minimum investment amount.
In all the cases mentioned above, the investor can request residence permit for his or her family (spouse and children) based on family reunion after the investment residence permit is granted.
Please note that the process for obtaining a residence permit based on investment is complex. It is highly recommended to seek professional assistance.
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