Residence permit for foreign investor in Brazil

The investor visa in Brazil allows foreigners to live in the country as a result of real estate investment, as long as they comply with the requirements indicated in Normative Resolution Number. 36. Understand the requirements to apply, the necessary documents, and the advantages of this visa!

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Residence permit for real estate investor

Normative Resolution (RN) Number 36 of October 9, 2018, describes granting residence permits due to real estate investment in Brazil. Thus, this RN allows an individual – with their resources of foreign origin – to carry out real estate investment in Brazil.

This is a common practice used by several countries. In addition to attracting investment and boosting the economy, real estate investment provides jobs in the country. Therefore, it is a way to facilitate the entry of investors with positive benefits for the domestic market. However, some requirements must be fulfilled.

Requirements for obtaining a residence permit due to real estate investment

The foreigner who wishes to apply for a residence permit due to real estate investment must purchase or own a property in an urban area, which may be under construction or already built. The property must be worth equal to or greater than R$ 1,000,000.00 (one million Brazilian Reais).

There is an exception to this rule if the property is located in the North or Northeast regions of the country. In these cases, the investment can be decreased by 30% of the required amount of R$ 1,000,000.00 (one million Brazilian Reais).

Another investment possibility that the Normative Resolution allows is the total sum of the properties, that is, the entire value of the properties must correspond to the indicated amount. Thus, the applicant can add up all their properties to reach the value of R$ 1,000,000.00 or up to 30% less if it is real estate in the North and Northeast.

The Resolution still allows the co-ownership regime, provided that each owner invests at least the stipulated amount of R$ 1,000,000.00 in the property.

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What documents are required for an investor visa in Brazil?

The Ministry of Labor analyzes the applications for residence permits in this case. For this, the documents needed to start the process are:

Acquisition of built properties:

• General Property Registry, attesting to the investor’s ownership of the property, free of encumbrances or charges;
• Declaration of an authorized credit institution, as well as registered in the national territory with the Central Bank of Brazil, attesting to the international transfer of capital for acquiring properties in the defined value.

Acquisition of properties under construction:

• Promise Agreement for the Purchase and Sale of the property, duly registered;
• Declaration 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 the payment, as a sign in the Promise Agreement of Purchase and Sale, of a defined amount;
• Construction permit issued under Brazilian law;
• Memorial of Incorporation duly registered;
• Other documents are listed in the Normative Resolution Number 01 of 2017.

Moreover, it is important to point out that the Ministry of Labor may carry out on-site diligence to verify the investment if they find it necessary.

Therefore, the foreign applicant must remain in the national territory for at least 30 days during the period granted in the residence permit, counted after registration with the Federal Police.

Term of the residence permit

The initial term of the residence permit is 2 years. The immigrant may request to extend the duration indefinitely in the renewal of the permit, observing the requirements outlined in the law. This authorization is valid and extended to spouses, parents and grandparents, grandchildren, children, and siblings.

What is the investor visa in Brazil?

The investor visa is nothing more than the authorization for permanent residence of foreigners in Brazil, to invest in the country based on their available capital. However, it is important to remember that primarily obtaining the visa is essential for acquiring the residence permit afterward.

How to obtain an investor visa in Brazil?

To acquire an investor visa in Brazil, other than real estate investment, the foreigner must invest in a Brazilian company in the amount of at least R$ 500,000.00, or R$ 150,000.00 for innovation projects.

Thus, the request is submitted to the Ministry of Labor and the interested party must submit:

• Investment plan;
• Articles of Incorporation or constitutive act of the company, with due payment of the invested capital;
• Proof of foreign investment, requiring the presentation of the Declaratory Registration of Foreign Investment;
• Exchange contract issued by the Bank receiving the investment;
• Other documents are necessary to establish residence.

How can a foreigner invest in real estate in Brazil?

Foreigners can invest in real estate in Brazil if they have a valid identification document in the national territory (passport), a unique registration number (CPF), and proof that they have a registered CPF.

However, it is worth noting the existence of restrictions related to the acquisition of rural properties and in border regions.

What is the Normative Resolution number 36 (RN 36)?

The Normative Resolution Nº. 36 of the National Immigration Council, called RN 36, is the rule that governs the granting of residence permits as a result of real estate investment in Brazil. In other words, it presents the requirements to obtain an investor visa in Brazil.

What is the applicable jurisdiction to a property in Brazil purchased or owned by a foreigner?

It’s the jurisdiction of the property’s location. Thus, if the real estate is located in Brazil, even if owned by a foreigner, Brazilian law will apply.

How does the succession of foreign assets in Brazil work?

According to Brazilian law, the succession of assets of foreigners located in Brazil works as follows: it is regulated by Brazilian law for the benefit of the Brazilian spouse or children or whoever represents them. As an exception, foreign law may be applied if it is more advantageous to the heirs.

What are the advantages of obtaining a foreign investor visa in Brazil?

The advantages of becoming a foreign investor in Brazil can come from the devaluation of the national currency and the decrease in the basic interest rate, which turned the real estate market into an interesting area for foreigners.

For this reason, the Association of Foreign Investors points out Brazil as the second best option for investing in commercial real estate.