Permanent Residence Visa
Investment immigration by definition is where a foreign individual invests a set amount of money into an investment project of the country he/she wishes to obtain a residency visa in. In general the investment must be to the benefit of the country’s economy and as a result the applicant can apply for an investor visa, providing him with the right to become a permanent resident. The residency visa is granted on approval of the individual’s investment plan and will enable the applicant to live and carry out business in that country, along with his dependents. Generally, most jurisdictions provide the opportunity for the investor to sponsor his family to reside with him. It is important to acknowledge that each jurisdiction provides for different requirements to be met in order to qualify for a residency visa through investment. There are a number of conditions that need to be satisfied in order to engage in investment immigration.
Brazil is a highly sought after location for many foreign investors seeking permanent residency. It boasts a strong political and financial infrastructure with a solid and prominent legal framework. Brazil has a high standard of living and living expenses are relatively low. Conducting business in Brazil is subject to low tax rates and beneficial/liberal tax breaks. The climate, scenery and Brazilian hospitality is key to attracting foreign investors to this country.
The Ministry of Labor of Brazil is the regulatory body that issues individuals with a permanent visa; however other authorities include the national Immigration Council of Brazil, the Ministry of Foreign Affairs and the Central Bank of Brazil, who initiate the registration of the applicant’s investment.
In order to attain the ‘Permanent Residence Visa’ in Brazil, investors are required to invest a minimum amount of R$150, 000.00 into Brazil. This application is made directly to the Ministry of Labor and Employment.
Applicants who wish to travel with their spouse and children need to present their marriage certificate as well as birth certificates of all children.
After the Brazil permanent resident visa has been issued, the applicant is required to register with the Brazilian Immigration authorities (DPMAF) within 30 days of arrival. The original stamped visa application needs to be submitted to the DPMAF
A Brazil residency visa is granted for 3 years. Unlike other countries, Brazil allows for the investor to take his family with him to reside in Brazil once his application and investment have been approved. Under other jurisdiction’s immigration laws, for an applicant to include his spouse and dependents, there is normally a fee incurred.