Published by Hector Lopez | SetupGlobal.Com
All you wanted to know about Investor Visas and Residency in Brazil, is explained below....
For those who may need a second residency in Brazil, for the entrepreneur relocating to Brazil for the purposes of running a business, for the retired executive (alone or with a family wanting to start or buy a business, or for the C-level executive appointed to oversee their company’s Brazilian subsidiary, a Brazilian Investor Visa is required.
Similar to the US Green Card, the Investor Visa brings you many benefits:
Endows Permanent Residency status
Residency for the entire family, including all your dependent family members.
Grants the option to apply for Brazilian Citizenship and a Brazilian Passport within a couple of years.
See the Key Facts below:
Investment of US$ 150,000
The Investor Visa requires a minimum level of financial investment of R$ 500k BRL (Brazilian currency) for the individual investor or R$ 600k BRL (Brazilian currency) for legal entity investor, in a Brazilian company. This process is simple, regulated by Government and very straightforward.
Investment of US$ 270,000
The Investor Visa through property acquisition requires a minimum level of financial investment of 700k BRL on North & Northeast regions, or 1,000,000 BRL on South, Southeast & Midwest regions for individual investor or legal entity investor. This process is simple, regulated and very straightforward.
Living & Working in Brazil | How long is the investor visa valid for?
Your residency status is permanent in the sense that you can live and work in Brazil without a time limit. However, your permanent residency is linked to your status as an investor in the country.
Therefore, in order to renew your documents, the authorities will periodically check if you have kept your investment in the country; if it has been repatriated, you visa may be annulled. The first time will be after three years.
The renewed visa will be valid for 9 years before renewal, but after the visa holder becomes 60 years old, it will be no longer necessary to renew the document. You can also apply for citizenship and will no longer need to renew your visa after that.
Visa Process: What are the required documents for the Investor Visa process?
Besides the Power of Attorney that you will be giving us to initiate the process on your behalf, the below documents are required: A passport to start the process and the rest should be provided at a later stage (about 3 months from start and after transferring the investment capital). The following documents are required from your end:
1. Proof Of Identity (Valid Passport with an expiration no less than 6 months away). 2. Certificate of Good Conduct. 3. Curriculum Vitae 4. Optional and/or when Applicable a. Proof of parental relationship or family (Birth Certificate, or family book). b. Marriage certificate, when applicable. c. Academic credentials (e.g. Diploma), d. Proof of address (like utility bill)e. Proof of banking details(Bank statement, or screenshot). The following documents we will prepare on your behalf and/or will help you to get locally: 1. Articles of incorporation of your Brazilian legal entity that received the investment. 2. SISBACEN – declaratory registration of FDI Foreign Direct Investment in Brazil’s Central Bank or the Exchange Contract issued by the bank of exchange that receives the investment. 3. Presentation of the receipt of the entry of payment of Income tax for the legal entity’s last year of fiscal operations, when applicable. 4. Confirmation of the payment of the individual immigration tax. 5. Business Plan.
Requirements for obtaining the Brazilian Citizenship (after you are registered as a Brazilian Permanent Resident
Be registered as a Brazilian permanent resident Proof of uninterrupted residence in Brazil for at least four years prior to applying. Keep in mind that trips abroad do not count as interruptions. Ability to read and write elementary Portuguese. You must be able to provide for yourself and your family.
This condition can be fulfilled in several different ways:
1. You receive a salary or pension in the country 2. You are a student and are under 25 years of age 3. You can provide proof that a relative provides you with enough income to match legal requisites You must be able to pass a background check for criminal conduct You must not be owing any taxes in the country You must have a proof of righteous conduct All candidates are required to produce a ‘Certificate of Good Health’ except for those who have lived in the country for more than two years.
What can be done with the investment once it has been brought to the country?
The money will be in the bank account of a legal entity owned by the investor. From there, and through the entity created, the investor can choose to invest the money as it pleases, including real estate property, bank investments, stocks, etc. In other words, the investor can choose on almost any form of investment, as long as it’s done in the name of the investor's company. Most foreigners, usually those who are already purchasing real estate, take advantage of that. The investor can also invest in stocks and even put in a savings account at a fixed interest rate. The interest rates in Brazil are much higher than in most countries.
If It is decided to stop the procedure, can the investment be paid back?
In fact the investor can take it back at any time, even when it's in the legal entity’s bank account, the investor still have control over it to do whatever the investor wants. However, if the investor already have an investor visa and the case is reviewed by the authorities after 2 years, they will find that the investor have repatriated the capital then will not renew the visa. In order to renew the visa, the investor needs to keep the minimum investment amount in the country. Note that this does not include any profit generated from the investment in Brazil (e.g. bank interest), which can be taken out at any moment without affecting the status of the visa. Profit repatriation is also exempt from taxes in Brazil.