Brazil’s Investor Visa Program
by Carolina Garutti, Emdoc ERS Specialized Services, Brazil

Is there an Investor program to allow immigration in your country?

It is important to clarify that in Brazil there is not properly an investor program, however, the Brazilian legislation has many rules that regulates the entry of foreigners in the condition of investors.   

If yes, what tare the minimum capital requirements?

The Ministry of Labor from Brazil can grant a permanent visa for the foreigners that intend to invest a minimum amount of US$50,000.00 (fifty thousand American dollars). This investment can be done in a corporation that already exists or can be destined to settle up a new one.

Exceptionally, the National Immigration Council can authorize the concession of a permanent visa for a foreigner, even though the amount of investment is lower than the amount mentioned above, but in this case, an absorption plan of Brazilian manpower must be presented and the visa will be valid for a period of two years, with a project that creates at least 10 (ten) new jobs positions for the Brazilian workers. If this compromise is accomplished, the visa will be valid for more 3 years, totalizing 5 years.

What are the minimum qualifications that apply to the potential immigrant with respect to age, business background, experience, and net worth?

According to the Brazilian law, only people who are older that 18 (eighteen) years have legal capacity. Due to this only they are allowed to practice any kind of business activities.

There are no other minimum qualifications to enable applying for investor visa. However, the immigrant must be indicated as the administrator of the company for the permanent visa to be approved.        

Are the potential immigrant’s family members included in the program? Are there any age limitations for the children?

Yes, it is possible that the foreigner is accompanied by his familiar dependents: underage children and spouse, who is also allowed to work in Brazil.

Who administers the program? (i.e. banks, government entities, etc)

In Brazil, the governmental authorities that regulate the immigration matters are the National Immigration Council, the Ministry of Labor, and the Ministry of Foreigner Affairs. The Central Bank of Brazil will make the registration of the investment only.

Do the program managers pay a commission or finders fee? If so, how much?

No. The only stimuli that the Brazilian authorities grant is the possibility that the foreigner invests less than US$50,000.00 (fifty thousand American dollars) in the country in order to apply for the investor visa, if he/she commits to create new jobs in the next years, as per answer number 2 above.

How long does the processing take?

The processing time is normally 35 (thirty five) days.

Once the US$50,000.00 (fifty thousand American dollars) are subscribed into the firm, the visa application can be submitted before the Ministry of Labor.

Normally, the Ministry of Labor takes 30 (thirty) days to analyze and approve the visa application. After that, this information is sent to the Ministry of Foreigner Affairs and the Brazilian Consulate is therefore able to issue the visa. This last phase normally takes more 5 days. 

Please note that we are considering that the Brazilian company that will receive the investment already exists. If it does not exist, it will be first necessary the establishment of this company and only then the application of the visa will be possible.

Does the immigrant receive a “conditional” or “Permanent” visa?

It will be granted a permanent visa.  However, this visa will be linked to the activity that the investor will have in the company. Only after the renewal of the permanent visa this person will have a definite permanent visa.

Are there any conditions attached to the visa that will require further steps to be taken later?

We recommend consulting a tax specialist in order to better understand the fiscal policy in Brazil.

After getting the visa, some Brazilian documentation will have to be arranged, such as RNE (foreigner’s ID number) and driver’s license.

Is there any minimum term for the investment to remain in place before the visa is granted or the conditions lifted?

Taking all the money away from Brazil, after the visa approval, can create tax matters. Therefore, if it happens, it will have to be explained to the fiscal authorities why the money was taken away from the company.

This kind of visa is granted for 05 (five) years and in order to enable its extension it is mandatory that the Brazilian firm continues operating, since the extension will be granted upon evidence that the foreign is still in Brazil as an investor, certified copy of the whole income tax return forms for the company’s latest fiscal year and copy of the RAIS for the preceding five years.

Moreover, the condition of investor will be registered in the visa for the first 05 (five) years. After the visa extension, this condition will no longer remain.