Expatriate Forums in Brazil

Marcio Carvalho · Guest Home Country: countryx

By Dr. Marcio Alexande Carvalho
Attorney at Law – www.bionexus.biz

PERMANENT RESIDENCY IN BRAZIL

I am an immigration lawyer in Fortaleza, Brazil and would like to provide the latest information
regarding the various programs available for permanent residency in Brazil.

BRAZILIAN IMMIGRATION LAWS

Here are the differences between Normative Resolution 60 and Normative Resolution 62.

In Normative Resolution 62 it is more rigid as it is for foreign companies who want to form a subsidiary and have a FOREIGN ADMINISTRATOR.

This in the mind of the Brazilian government it is like taking food away from the table of Brazilians as it does not provide a job for a Brazilian administrator.

Normative Resolution 62 is for providing a WORK PERMIT for a foreigner. Therefore it is more strict and in 2 years the Brazilian company must demonstrate that it has provided employment for 10 Brazilians.

Normative Resolution 60 is easier as it is NOT PROVIDING A WORK PERMIT for a foreigner. In other words investors only own the Brazilian company, but do not work there. The investor is allowed to manage his company and the permanent visa is renewable after 5 years.

BRAZILIAN CITIZENSHIP

Many clients are simply after a Brazilian citizenship which can be acquired after 4 years of residency and are not interested in renewing the permanent visa.

BRAZILIAN COMPANY MUST BE FORMED

A Brazilian company must be formed and the bank account of that Brazilian company must be registered with the Central Bank of Brazil. The $50,000 USD must pass through the Central Bank into the investor's Brazilian company bank account which remains under the investor's control at all times.

BRAZILIAN RESIDENT INVESTOR STATUS PROGRAM

Updated – October 6, 2004

A new law has passed on this date in Brazil whereby the fee for obtaining a permanent residency was lowered from $200,000 to only $50,000 USD. You can obtain a permanent residency, by investing in a business - for example it could be in real estate such a rental apartment or it could be in an investment in a fish farm which is a fast growing industry here.

It is important for you to realize that the cost of living in Brazil, and especially in the north east part of the Brazil where Fortaleza is located, is significantly lower than Europe, the United States or Canada. Also the cost of living is much lower than cities in south of Brazil like Rio de Janeiro or Sao Paulo.

Money transfer
It is worth mentioning that when you transfer the money legally, from your bank through the Central Bank of Brazil (Banco Central) to your own bank account in Brazil, that the money remains yours and stays with you at your disposal at all times and under your sole control.

Comparison to Central America Residency Investor Programs
There simply is no comparison. Central American countries like Costa Rica charge $50,000 USD to obtain a second residency, but the investment goes to government tree planting projects that you have no control over and it is doubtful that you will ever receive a penny of profit. Consider it a donation.

Choosing the investment
You can choose your own investment and may use our help on that. If you buy an apartment, or any other real property, it will be registered in your name and the system of registration in Brazil is 100% fool proof and has been operating for many years successfully for our overseas investors. We have clients from all over the world including Asia, Europe and North America.

Holiday apartment
It might be an excellent idea for you to invest your money here in a holiday apartment, where you could spend your vacations in the wonderful environment of Fortaleza, and enjoy the 5 star shopping center "Iguatemi" and the largest waterpark in South America, "Beach Park".

Our property management division can supervise the apartment while you are not here, and at your request, rent it for shorter or longer periods as you wish, (any contract must be signed by you). The real estate profit here, in general, is about 10% annually and for apartments near the beach it increases up to 15% and more on the value of the apartment. This is a solid and secure investment for the future and a possible retirement in Fortaleza.

We would propose for a number of reasons you entertain our Brazilian Resident Investor Status program.

Some of the reasons for this are:

1. The ability for applicant to work in their own business.

2. Minimum amount of time required per year to be there

3. The fact that the program is pre-approved by the government

4. Unrestricted. Applicant and family members may work at any endeavor.

5. Includes entire family including spouse and children up to 18 years.

6. Brazilian Citizenship and Passport possible in only 4 years time.

7. Cost as little as $50,000 per family.

8. Favorable Tax and Extradition laws.

"Resident Investor Status" through this Program.
No personal appearance in Brazil is required for processing. All your documents can be sent to our offices and the process can be completed in 45 to 60 days. You will pick up the Permanent Visa at the Brazilian embassy or consulate in your home country and then you will enter Brazil with the "Resident Investor Status".

Unlike former Brazilian residency programs which restrict you and your family to certain areas of Brazil, our program offers residency anywhere in Brazil for applicant and family. You choose when, where and how you live and work in Brazil. After 4 years you and your family can apply for citizenship and passport/s. In addition you do NOT have to remain in Brazil during your residency. You can visit for as little as a few days every two years.

An interesting note is that if you are single, a Brazilian Citizenship and Passport is possible after only one year of marriage to a Brazilian citizen.

A Resident Investor has most of the rights of a Brazilian Citizen except political. They can not vote or get politically involved.

Requirements to become a citizen are time in country as stated above and must be able to speak a reasonable amount of Portuguese. There are no further requirements.

opfla123 · Posted: Tue Aug 28, 2007 1:46 pm Post subject: Retire to Brazil

Good afternoon,
After search the net and reading many articles within the Brazilia Embassy site there are a few questions I can not answer.
It is possible to bring my car with me, electronics, household (furnuiture). And if so what kind of taxes will I be looking at?
Thank you for you time
Patrick

Mangu231 · Posted: Tue Nov 13, 2007 10:35 pm Post subject:

Hello can you tell me i recenty had a problem where I threw a plastic bottle at another person car after they threw one at mines, I got arrested and charged with terroristic acts because of that which is a felony. I am waiting to go to court now, do I need to wait until I go to court to see what the outcome would be first to apply for residency in brazil? And if I am charged with that felony would that destroy my chances of living in brazil?


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