Investor Visa: Brazil offers an opportunity to invest and obtain citizenship
Are you looking for a country where to invest and at the same time obtain citizenship? Brazil is undoubtedly the ideal place for it.
The economy of this country is considered the sixth largest in the world and should move to the fifth position in the next decade. The main advantages that draw attention to investing there are the favorable social and macroeconomic structure, the strong domestic market, the wealth of natural and cultural assets, the open markets and the clean and abundant renewable energy.
If you want to take advantage of everything this country has to offer, keep reading about this opportunity: the Investor Visa.
The individual investor visa will be granted to foreigners who intend to settle in Brazil and allows the permanence and continuous residence in the country for the investor and his immediate family. Once you get an investor visa, you can invest in opening a business in Brazil, in Brazilian real estate, or stocks, and you can even open a savings account in the country.
But how can you get this visa?
Before starting the process to obtain the Brazilian investor visa, you need the following documentation:
• Proof of identity
• Certificate of good standing
• Curriculum vitae
• Proof of relationship or family
• Marriage certificate
• Academic credentials
• Proof of address
Also, it will require an investment equal to or greater than R $ 500,000.00 (five hundred thousand reais) and must be made directly from the Investor's account abroad to a new company or another established in Brazil. The invested value, due to Visa fines and future repatriation without taxes, must also be registered with the Central Bank.
The investment area can be of any type, the capital can be invested to accumulate the high-interest rates paid by Brazilian banks or to buy real estate, for example.
It is important to note that to improve investment in technology companies, the new regulatory resolution opens an opportunity for new companies working in the technology, scientific, or innovation sector.
If the company complies with the conditions presented in the resolution, the minimum amount required to invest will revert to R $ 150,000.00, creating an opportunity for those investors who wish to undertake the startup business.
Before entering into the description of the specific steps to follow, we must clarify that at no time is the presence of the foreign investor in Brazil required. All procedures can be carried out through a representative issuing power of attorney with specific powers for the procedures.
This means that the foreign investor can plan their move to Brazil immediately after visa approval. This also means that the foreign investor can plan their stay in Brazil before or during the visa processing time, if necessary. Knowing that the visa is not issued in Brazil, but in the designated Brazilian consulate abroad, the foreign investor can make much better use of the 90/180-day tourist visa, for example, when preparing the final transfer to the country.
So what are the steps and how long does it take?
1. Issue a power of attorney through the respective foreign authority (usually a notary) and obtain an apostille certificate for the document (Brazil is part of the Hague Convention that eliminates the requirement of legalization of foreign public documents).
2. Provide apostilled certificates for all foreign documents that will be used during visa procedures (eg passport and birth certificates).
3. Once the representative receives the documents from steps 1 and 2, the CPF (Brazilian Individual Taxpayer Number) of the foreign investor can be obtained from the Federal Revenue Agency.
4. Once the CPF has been obtained, the company opening process can be initiated before a Board of Trade or a shareholder incorporation procedure if the investment will be used in an existing Brazilian company. A representative with Brazilian residence (Brazilian or foreigner with a permanent visa) must act as a representative at this point, at least until the visa is finally granted to the investor.
If the investor is starting a company from scratch, a valid address must be provided to act as the company headquarters. However, the investor CANNOT use the investment money at this time, as visa rules require foreign investment to be applied in a company. This means that you cannot buy a property before opening your business, otherwise the money you invest in the property will not count as foreign investment. An alternative solution to this problem is to use a temporary address for the business procedure and then invest the money in a property after the business is open.
5. Once the company is open, the investor must open a bank account for the company so that the investment can be sent. This step can also be time-consuming because many bank managers in Brazil are not used to companies with foreign shareholders and since banks can establish their own governance rules regarding internal procedures, document requests and delays can take a long time.
6. With the company's bank account open, the investment can finally be made. But before that, the company must be registered with the Central Bank of Brazil to receive a foreign investment operation.
7. Once the investment has been duly registered with the Central Bank, the visa application can finally be submitted with the documents contained in the regulatory resolution, such as a specific business plan.
8. After approval, the investor must consult the respective Brazilian Consulate on how to obtain the permanent visa documents, the procedures may vary from one country to another.