Real Estate Fund, Brazil, Asset Management

Brazil’s Resident Investor Programme

Please seek the advice of a professional immigration lawyer.  This is purely for general information purpose August 2006 The New Brazilian Resident Investor Program for Foreigners ($50K) Brazil’s National Immigration Council (“NIC”) issued Resolution 60/04 on October 6, 2004, which supersedes Resolution 28 of November 25, 1998, with respect to the issuance of permanent visas to alien investors in Brazil. With this newer rule, the amount of an investment needed for obtaining a permanent residency in Brazil was lowered to $50,000 USD and this has become the easiest and fastest way of getting residency in Brazil. You can obtain a permanent residency in Brazil, by investing the minimum amount of US$50K in, for example, it could potentially be a piece of real estate, such as a rental apartment or condo-hotel unit (Flat) or even by opening a small business, such as a restaurant or lodge. Under this new Resolution, a permanent visa allows a foreigner to live and work in Brazil with the purpose of investing his or her own foreign funds in productive activities or investing in existing activities in Brazil. Under the new rules, a permanent visa can be obtained by a foreigner when the following conditions are met: • a minimum investment of $ 50,000, from individual resources in productive activities; • the investment can be made into his or her newly opened company or in an already existing business; The procedure is pretty easy for the petitioner; the documentation needed is basically a Power of Attorney, copy of passport, and proof of address in native country. This is how it works: usually, a corporation is opened for the applicant (in his name – as the owner) and subsequently a corporate bank account will be opened. Afterwards, a registration takes with Banco Central do Brasil and the minimum amount of $50,000 is authorized to be wired from the investor’s account abroad to his new corporate account. It is worth mentioning that when you transfer the money 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. Once this has been completed, Banco Central do Brasil will issue a certificate. With that certificate your visa application will be filed, approved, issued and sent to any Brazilian Consulate abroad, as per your request, so your passport can be stamped. Compared to other Central America Residency Investor Programs, there 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. Freedom to Choose your Investment, you can choose your own investment. It could vary a lot, from real estate to new businesses. Most foreigners, usually those who are already purchasing real estate, take advantage of it. But here are some other inexpensive direct examples: Import/Export Company of goods or services. Small Lodges / Restaurants. Holiday apartments. It might be an excellent idea for you to invest your money, where you could spend your vacations and lease it out while you are not there. Flats in Sao Paulo. Low prices, equity, non-management needs, and monthly income make these a great investment opportunity. There are many reasons to choose the Investment Program path, some of the reasons for this are: 1. Small amount of money needed to obtain a permanent visa. 2. Diverse possibilities of investment. 3. 100% control of your money. 4. Benefits of having a bank account in Brazil, such as bank investment and bill payments. 5. The ability for applicant to work in their own business. 6. Minimum amount of time required per year to be here. 7. The fact that the program is encouraged and pre-approved by the government. 8. Unrestricted. Applicant and family members may apply and work at any endeavor. 9. Includes entire family including spouse and children up to 18 years. 10. Brazilian Citizenship and Passport possible in only 4 year’s time. 11. Favorable Tax and Extradition laws. 12. No personal appearance in Brazil is required for processing. 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". 13. It is good for 5 years and takes 60 days for a permanent visa to be issued. 14. You do NOT have to remain in Brazil during your residency. You can visit for as little as a few days every two years. 15. If you are single, a Brazilian Citizenship and Passport is possible after only one year of marriage to a Brazilian citizen. 16. A Resident Investor has almost all rights of a Brazilian Citizen except political. You can not vote or get politically involved. In conclusion, there is no other program that offers a faster and better cost/benefit ratio for a foreigner than the $50K Investment Residency Program. Source: www.josecsa

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