Brazilian residence permit for foreigners who buy property

Did you know that immigrants who buy property can have a Brazilian residence permit? Understand how to proceed if you seek residence in Brazil.

And if you want assistance with your Brazilian visa from our specialized legal team, click here to access the service area.

Yes, a normative resolution was published in the Federal Gazette (Diário da União) which confirms that immigrants who buy property can have a Brazilian residence permit. The resolution reads:

The Ministry of Labor may grant a residence permit, pursuant to art. 35 of Law nº 13,445, of May 24, 2017, and art. 42 and 151, caput, of Decree nº 9,199, of 2017, to individuals who intend, with their own resources from external sources, to carry out real estate investment in Brazil with the potential to generate jobs or income in the country.

However, authorization is granted following some necessary documentation investment criteria. Read until the end to understand how to finance property in Brazil.

Immigrants who buy property may have a Brazilian residence permit

In this way, the immigrant who buys property can have a Brazilian residence permit. But they can also get a visa for several other situations and thus have the rights that Brazilian citizens have.

Understand the types of visas for immigrants and find out when you have the right to remain in Brazil by clicking here (article in Portuguese).

What does a foreigner need to buy a property in Brazil?

To buy a property in Brazil, the foreigner needs the following documents:

• Passport or National Registration of Foreigners (RNE);
• CPF (Individual Taxpayer Registration), which can be requested by the Federal Revenue Service.

In addition, it is important for the immigrant to seek a professional to understand in more detail the limits of the territorial area in which it is possible to make the investment.

The text continues after the form.

Price of the property to obtain a residence permit in Brazil

The price of the property is an important factor for the immigrant to be able to buy a property and obtain a Brazilian residence permit. This is because, to make the investment, in the South, Southeast, and Midwest regions, it will be necessary to have an amount equal to or greater than R$ 1,000,000.00.

Thus, the investment can be made in:

• a) acquisition of constructed real estate; or
• b) acquisition of real estate under construction.

However, it’s possible to invest less than this amount if it is directed to the North and Northeast regions of the country. In these cases, the amount must be equal to or greater than R$700.000,00, according to the resolution:

The minimum investment amount may be less than 30% of the total amount provided for in the caput of this article, when it comes to the acquisition of real estate in the North and Northeast regions of the country.

In addition, it’s possible to prove the real estate investment in the amount discussed above with the acquisition of more than one property. Thus, the sum of all properties must correspond to the minimum value.

How to get a residence permit in Brazil for real estate investment?

As we mentioned before, the immigrant who buys property may have a Brazilian residence permit, but it is necessary to present some documents, which will be analyzed by the Ministry of Labor.

Thus, in order to grant a temporary visa for the acquisition of constructed real estate, it’s necessary:

• a) General Property Registry, attesting ownership of the investor’s property, free of liens or charges; And
• b) statement from a credit institution authorized or registered in the national territory with the Central Bank of Brazil, attesting to the international transfer of capital for the acquisition of real estate at the defined amount (discussed above).

Likewise, when it comes to the acquisition of real estate under construction, the following documents are required:

• a) Promissory Agreement of Purchase and Sale of the property, duly registered;
• b) statement from a credit institution authorized or registered in the national territory with the Central Bank of Brazil, attesting to the international transfer of capital for the acquisition of real estate or for payment, as a down payment in the Promissory Purchase and Sale Agreement, of set value;
• c) Construction Permit issued pursuant to Brazilian legislation; And
• d) Memorandum of Incorporation duly registered.

Other information for Immigrants who buy property may have a Brazilian residence permit

There is also other important information for the immigrant who intends to buy a property and have a Brazilian residence permit:

• The regime of co-ownership may be accepted, provided that each interested co-owner has invested the established minimum amount;
• The value of the real estate investment may be financed if it exceeds the amount of R$ 1,000,000.00 (one million reais);
• Ministry of Labor may carry out visits to the site to verify the completion of the investment;
• The period of residence envisaged will be 04 (four) years.

If you want legal assistance from our specialized lawyers for residence permit cases in Brazil, click here to access the service area and request yours.

Can a foreigner finance property in Brazil?

Yes, foreigners can finance property in Brazil.