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How to Become a Resident in Brazil

Author: Tom Ocean

Escape Artist - The Definitive Resource on Brazil

National Immigration Council published in February of this year 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 Physical Persons Visa permits non Brazilian partners, companies that are created by foreigners must have a Brazilian Resident partner to enter Brazil without restriction and manage their company.

Three principle modifications were:

1. Change of investment value - increased to R$150,000 to constitute a new company or enter into a joint venture with an existing one, as long as it is registered with Banco Central do Brasil.

2. Reducing from 5 year to three year term.

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

The change was made because many foreigners were simply buying residences that were valued and the previous R$50,000 level simply to get a visa.

The intention of the economic investor visa is to stimulate economic growth for Brazil’s rapidly growing economy. The principle criteria the immigration authorities look at today is if the investment will create more economic activity.

Accomplishing this task requires the analysis of this criteria.

a. Employment and Income Generation

b. Will it increase the value of Brazil?

c. Assimilationof technological resources.

d. Acquisition of resources for specific sectors.

The General Coordination of Immigration expects that the employment of Brazilians will begin within one year of the visa being approved. The law does not specify how many employees are required but the common understanding suggests a minimum of two to four and the generation of indirect employment will be considered as well but rather in a complementary form.

The proof of Social Interest requires a presentation of an Investment Plan which explains exactly how the resources will be utilized, consisting of.

A. Definition of Business should include economic sector, location, description of activity or services and a time line outlining the investment.

B. Objectives of the Investor and the impact of the investment on 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

All requirements for the visa will be reviewed annually to determine if the investor is meeting the employment requirements. If the requirements are not met the visa could be revoked.

Following the three year period there will be a requirement to apply and renew the permanent residency visa with the Federal Police. If it is proven that the investment plan has not been executed the visa could be retracted.

Hopefully this will provide clarity to 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 Staff Writer in living, investing and retiring in South America. He provides an informative Blog for Living in Brazil that answers many of the important questions without the hype of all the other websites. He and his family are perpetual travelers living amongst the free and happy people of the world. Mr. Ocean escaped from America amidst the many of Americans who clearly see the trends toward socioeconomic repression in North America.

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