Escape Artist - The Definitive Resource on BrazilNational Immigration Council published in February of this year Norms Resolution n 84 for concessions of authorization for purposes of obtaining Permanent Visa for Foreigner Physical Persons described as all persons non entity companies, corporations and such are considered in Brazil physical persons until receiving a tax registry number CNPJ, Cadastro Nacional Pessoa Juridica.This Permanent Investor Visa permits non Brazilian partners, companies that are created by foreigners must have a Brazilian Resident partner to enter Brazil freely and manage their company.Three principle modifications were:1. Change of investment requirement - increased to R$150,000 to create a new company or go into a joint venture with an existing one, as long as it is registered with Banco Central do Brasil.2. Reduced from five year to three year term.3. Proof of utilizing the funds to generate commercial activity which has significant 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 physical person investor visa is to create economic growth for Brazil's rapidly growing economy. Today, the principle criteria elected for approval of such by the immigration authorities is the Social Interest of the investment or the analysis will focus on the activity that will be developed.To accomplish.a. Generate employment and income b. Will it increase the value of Brazil?c. Assimilationof technological resources.d. Use 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 determine how many employees are required but the general understanding suggests a minimum of two to four and the creation 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. Definition of Business should include economic sector, location, description of activity or services and a time line outlining the investment.B. Objectives of the Entity and the importance of the investment for the local area and economy in general.C. A 3 year employment plan.D. A financial plan showing utilization of investment funds.There will be more considerations to examine such as educational level and relevance of the foreigner in question in regards to the sector being invested in. Your business plan should be very clear and complete if you desire the approval of the visa.Escape Artist - The Definitive Resource on BrazilAll 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.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.
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As the rules & regulations are constantly changing in these volatile times it is a very good idea to keep up with the latest developments.Recently there was a significant change in the legislature concerning permanent investor visa programs, immigration laws and requirements in respect to the above mentioned. It is very important that you seek counsel to assist you in the process.
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 important questions without the sales pitch 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 now see the trends toward social and economic repression in North America.
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