Unique Original Articles » How to Become a Resident in Brazil

How to Become a Resident in Brazil

Author: Tom Ocean

Escape Artist - The Definitive Resource on Brazil

In February of this year the National Immigration Council published the Norms Resolution n 84 for concessions of authorization for purposes of receiving Permanent Visa for Foreigner Physical Persons described as all persons non entity companies, corporations and such are considered in Brazil physical persons until obtaining a tax registry number CNPJ, Cadastro Nacional Pessoa Juridica.

This Permanent Investor Visa permits non Brazilian partners, companies that are created by foreigners has to have a Brazilian Resident partner to enter Brazil freely and manage their company.

Three principle changes were:

1. Change of investment requirement - increased to R$150,000 to create a new company or go into a partnership with an existing one, as long as it is registered with Banco Central do Brasil.

2. Reducing from five year to three year term.

3. Proof of utilizing the funds to create productive activity which has substantial social and economic impact on the local community or on the country itself.

When the value was stipulated as R$50,000 would lead to many foreigners purchasing their residences normally of higher value amounts through a simple set up of a company and easily obtaining their permanent residence without attending to principles of the investment to generate employment and productive activity.

The purpose of the physical person investor visa is to create economic growth for Brazil. The principle criteria the immigration authorities look at today is if the investment will create more economic activity.

To accomplish.

a. Employment and Income Generation

b. Does it increase the productivity of Brazil?

c. Useof technological resources.

d. Utilization of resources for specific sectors.

The understanding of the General Coordination of Immigration is that employment of Brazilians should occur in the first year of the approval for the visa. The legislation does not determine how many employees are required but the general understanding suggests a minimum of 2-4 and the generation of indirect employment will be calculated as well but rather in a complementary form.

Investors must provide proof of Social Interest which requires that an investment plan be presented as to how the resources will be employed.

A. The Physical Person applying for the visa must provide a business plan which outlines the description of business activity, geographic location and a time line.

B. Objectives of the Physical Person and the impact of the investment for the local area and economic sector.

C. A 3 year employment plan.

D. The financial plan showing use of funds.

Other consideration for approval of the visa will include the educational level, importance of the business, and the investment sector. Your business plan should be very clear and complete if you desire the approval of the visa.

Escape Artist - The Definitive Resource on Brazil

The General Immigration Coordination Secretary will verify these requirements annually especially in respect to employment and generating income and if not met the authorization will be canceled.

After the three year period there will be a requirement to solicit and renew the permanent residency visa with the Federal Police. If it is determined that the investment plan has not been followed the visa could be rescinded.

Hopefully this will clear many of the questions that you have. If you have specific questions, comments or suggestions please forward them to us and we will do our best to provide you with the most complete and accurate answer that we can.
Mr. Ocean is a freelance writer) for Escape Artist focusing (primarily in living, investing and retiring in South America. He provides an informative Blog for Living in Brazil that answers many of the legal questions without the sales pitch of all the other websites. He and his family are expatriates living amongst the free and happy people of the world. Mr. Ocean escaped from America amidst the many of Americans who now see the trends toward socioeconomic repression in North America.

Article Source: JS2 Article Spinner


All articles are submitted by users, we take no responsibility for the content of any articles. Users have given permission for others to use these articles in exchange for credit in the form of a link back to the author's website. For removal requests please contact us at http://www.jetpackedsupport.com